In this article, we discuss 5 of the biggest banks in the world. If you want to see more of the biggest banks in the world, go directly to 16 Biggest Banks in the World.
5. JPMorgan Chase & Co. (NYSE:JPM)
Total Assets: $3.74 trillion
JPMorgan Chase & Co. (NYSE:JPM) is the largest U.S. bank with total assets of $3.74 trillion. Although it could face headwinds if a recession occurs, the bank is well positioned in the long term given its substantial scale and financial strength. With its scale, JPMorgan Chase & Co. (NYSE:JPM) can spend more on technology than many of its competitors and potentially realize more market share and higher margins. With its financial strength, JPMorgan Chase & Co. (NYSE:JPM) could potentially buy back more shares even given the uncertain economic climate. CEO Jamie Dimon said in the company’s Q3 results, “Importantly, we continue to make all the investments that we need to grow our businesses and serve our customers, and we hope to be able to resume stock buybacks early next year.”
4. Bank of China
Total Assets: $4.21 trillion
Although Bank of China is the smallest of the big four Chinese state owned banks, it is nevertheless the fourth largest bank by total assets in the world. With total assets of $4.21 trillion, Bank of China plays a substantial role in China’s developing economy. If Bank of China makes quality loans, the country’s economy could grow faster and the bank could potentially be more profitable.
3. Agricultural Bank of China
Total Assets: $4.58 trillion
With total assets of almost $4.6 trillion, Agricultural Bank of China is the third largest bank by assets in the world. Recently, Agricultural Bank of China, along with the other big four Chinese state owned banks, cut its interest rate for three year deposits by 0.15 percentage points that could allow the bank to lower its lending rate. With lower lending rates, China’s economy could benefit and Agricultural Bank of China could potentially benefit in the long run.
2. China Construction Bank
Total Assets: $4.76 trillion
China Construction Bank is the second largest bank in the world with total assets of $4.76 trillion. As another of China’s big four state owned banks, China Construction Bank is an economically important bank. Given that China’s economic growth has slowed, China Construction Bank’s growth may not be as strong as before in the near term.
1. Industrial & Commercial Bank of China
Total Assets: $5.54 trillion
Industrial & Commercial Bank of China, or ICBC, is the largest bank in the world with total assets of over $5.5 trillion. As one of the big four Chinese state owned banks in the second largest economy in the world, Industrial & Commercial Bank of China has huge scale with around 9.7 million corporate customer sand 704 million individual customers. Like the other state owned banks in China, Industrial & Commercial Bank of China recently cut its deposit rates so that lending rates could potentially be lower too.
You can also take a look at 20 Most Admired Companies in the World in 2022 and 15 Biggest Dow Companies By Market Cap.
