Below you can find the list of 5 largest financial services companies in the world. For a detailed coverage of this topic and a more comprehensive list, please take a look at this article.
5. Bank of China
Total revenue in 2019 (in millions of dollars): 135,091
Total profit in 2019 (in millions of dollars): 27,127
Total assets in 2019 (in millions of dollars): 3,268,838
Total employees in 2019: 309,384
Bank of China is a state owned commercial bank, and is one of the four biggest banks in China and 5 biggest banks in the world. Founded in 1912, it is nearly a century old and is actually the second oldest bank in the country. It is one of the largest lenders in China, and the world as well, and owns an astound $3.2 trillion in assets. It also has a lot of subsidiaries, which has allowed it to accumulate significantly in size.
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4. Berkshire Hathaway (NYSE:BRK.A)
Total revenue in 2019 (in millions of dollars): 254,616
Total profit in 2019 (in millions of dollars): 81,417
Total assets in 2019 (in millions of dollars): 817,729
Total employees in 2019: 391,500
If only considering revenue, Berkshire Hathaway is by far the largest financial services company in the world. Even if you consider revenues and profits, no other company in this sector can come close. However, once you factor in total assets, and while $817 billion worth of assets may seem a lot, many companies have trillions of dollars worth of total assets, which is why Berkshire Hathaway has dropped to the fourth position. It also owns or has a stake in many other companies including Apple, which is also the biggest electronics company in the world.
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3. China Construction Bank
Total revenue in 2019 (in millions of dollars): 158,884
Total profit in 2019 (in millions of dollars): 38,610
Total assets in 2019 (in millions of dollars): 3,651,645
Total employees in 2019: 370,169
One of the ‘big four’ banks in China, it is also the third largest bank in the world, and no bank outside of China can compete with it. It has over 13,000 branches in China alone while also having branches in several major cities across the world including Luxembourg, Hong Kong, New York City, Seoul, Tokyo, Melbourne, Frankfurt and Barcelona among many others.
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2. Agricultural Bank of China
Total revenue in 2019 (in millions of dollars): 147,313
Total profit in 2019 (in millions of dollars): 30,701
Total assets in 2019 (in millions of dollars): 3,571,542
Total employees in 2019: 467,631
The top 3 are all Chinese banks, and the Agricultural Bank of China has the highest number of employees in the financial services sector. It is considered to be one of the Big 4 banks in China and was founded in 1951, headquartered in Beijing, China. It also has several branches across the world including in Hong Kong, Tokyo, Frankfurt, Seoul, Sydney and Singapore. The bank has over 320 million retail customers, 2.7 million corporate clients and around 24,000 branches. In mid-2010, it had the highest IPO at the time, later taken over by Saudi Aramco.
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1. Industrial & Commercial Bank of China
Total revenue in 2019 (in millions of dollars): 177,069
Total profit in 2019 (in millions of dollars): 45,195
Total assets in 2019 (in millions of dollars): 4,322,528
Total employees in 2019: 445,106
The Industrial a& Commercial Bank of China employs nearly half a million people and is a vast institution, with over $4.3 trillion in assets. Founded in 1984, ICBC is a commercial bank which is state owned and has been the biggest bank in the entire world for a few years. According to The Banker’s top 1,000 World Banks ranking, it has been top for the past seven years.
See also 10 Most Profitable Companies in the World in 2020 and 10 Most Profitable Industries in America in 2020
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