In this article, we will take a look at 5 of the largest banks based on their assets. If you want to see more of the biggest banks in the world, go directly to 25 Largest Banks in the World by Assets.
5. JPMorgan Chase & Co. (NYSE:JPM)
Total Assets: $3.74 trillion
JPMorgan Chase & Co. (NYSE:JPM) is an American multinational financial services firm headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States and the world’s largest bank by market capitalization. Founded in 1799 as the Bank of the Manhattan Company, JPMorgan Chase & Co. (NYSE:JPM) manages approximately $3.74 trillion in total assets. As the largest of the Big Four banks in the United States, the firm is considered systemically important by the Financial Stability Board.
4. Bank of China
Total Assets: $4.42 trillion
The Bank of China is a Chinese majority state-owned commercial bank headquartered in Beijing. Despite being the smallest of the big four Chinese state owned banks, the Bank of China remains the fourth largest bank in the world, with total assets amounting to $4.42 trillion. The Bank of China was founded in 1912 by the Republican government as China’s central bank, replacing the Qing Dynasty’s Ta-Ching Government Bank and plays a substantial role in the country’s economical development.
3. China Construction Bank
Total Assets: $4.98 trillion
Founded on 1 October 1954 under the name of People’s Construction Bank of China, and later changed to China Construction Bank (CCB) on 26 March 1996, CCB engages in the provision of financial and banking services by operating through the following segments: Corporate Banking, Personal Banking, Treasury Business, and Others. As another of China’s big four state owned banks, China Construction Bank is an economically important bank with almost $5 trillion in total assets.
2. Agricultural Bank of China
Total Assets: $5.35 trillion
The Agricultural Bank of China, also known as AgBank, was founded on 10 July 1951, and has its headquarters in Dongcheng District, Beijing. Earlier this May, the Agricultural Bank of China stated that it had enhanced loan issuance and offered innovative products and services to support the development of China’s county-level areas. By the end of the first quarter, the bank’s outstanding loans for farmers reached 970.5 billion yuan ($136.3 billion), up 190.1 billion yuan ($26.68 billion) from the start of this year.
1. Industrial and Commercial Bank of China Limited
Total Assets: $6.1 trillion
Industrial and Commercial Bank of China Limited is a Chinese multinational bank. Founded as a limited company on 1 January 1984, ICBC is the largest state-owned commercial bank in China, and simultaneously, the largest bank in the world based on its $6.1 trillion worth of total assets. With capital provided by the Ministry of Finance of China, the bank’s Tier 1 capital in 2013 was the largest of one thousand global banks, being the first bank headquartered in China to achieve this distinction in modern history. Similar to the other state-owned banks in China, Industrial & Commercial Bank of China recently cut its deposit rates so that lending rates could potentially be lowered.
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