Top 10 Largest Banks in the World

The list  is showing the largest banks in the world based on market capitalization as of January 20, 2012. Industrial & Commercial Bank of China (ICBC) is the largest bank in the world by market capitalization value. Chinese banks occupy the top positions. The People’s Republic now has 4 of the top 7 banks, including the top 2. Here are the top 10 largest banks in the world based on market capitalisation.

 

 

10. Commonwealth Bank of Australia

Australia

Commonwealth Bank have a market capitalisation of  $ 82.62 Billion as of January, 2012. The Commonwealth Bank of Australia is an Australian multinational bank with businesses across New Zealand, Fiji, Asia, USA and the United Kingdom. Commonly referred to as the Commonwealth Bank (or Commbank), it provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment and broking services. The Commonwealth Bank is now the second largest Australian listed company on the Australian Securities Exchange as of January 2008 with brands including BankWest, Colonial First State Investments Limited, ASB Bank (New Zealand), Commonwealth Securities Limited (CommSec) and Commonwealth Insurance Limited (CommInsure).

 

 

9. Citigroup

United States of America

Citigroup have a market capitalisation of $ 86.67 Billion. Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world’s largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group in October 1998 (announced on April 7, 1998). The year 2012 marks Citi’s 200th anniversary.

Citigroup has the world’s largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company currently employs approximately 260,000 staff around the world, which is down from 267,150 in 2010 according to Forbes. It also holds over 200 million customer accounts in more than 140 countries. It is a primary dealer in US Treasury securities. According to Forbes, at its height Citigroup used to be the largest company and bank in the world by total assets with 357,000 employees until the global financial crisis of 2008. Today it is ranked 20th in size under the Fortune 500 list.

 

 

8. Itaú Unibanco

Brazil

Itaú Unibanco have a total market capitalisation of  $ 88.17 Billion. Itaú Unibanco is a Brazilian publicly quoted bank with headquarters in São Paulo,Brazil. The bank is the result of the merger of Banco Itaú and Unibanco, which occurred on November 4, 2008 to form Itaú Unibanco Holding S.A, the largest financial conglomerate in the Southern Hemisphere and is the 10th largest bank in the world by market value. The bank ist listed at the BM&F Bovespa in São Paulo and in NYSE in New York. Currently is the second biggest Brazilian bank by assets, after Banco do Brasil.

Itaú Unibanco owns the Redecard, the second largest Brazilian card payment company. Itaú Unibanco accounts for about 11% of the Brazilian market for retail banking services. It has operations in Argentina, Chile, Paraguay and Uruguay in South America, as well as in England, Luxembourg and Portugal in Europe, USA, Japan, China, Hong Kong and UAE in Asia.

 

 

7. Bank of China

People’s Republic of China

Bank of China have a market capitalisation of $128.80 Billion as of January 2012. Bank of China Limited (BOC)  is one of the big four state-owned commercial banks of the People’s Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China. From its establishment until 1942, it issued banknotes on behalf of the Government of the Republic of China along with the “Big Four” banks of the period: the Central Bank of China, Farmers Bank of China and Bank of Communications. Although it initially functioned as the Chinese central bank, in 1928 the Central Bank of China replaced it in that role. Subsequently, BOC became a purely commercial bank. Its headquarters are in Xicheng District, Beijing.

 

 

6. JPMorgan Chase

United States of America

JPMorgan Chase have a market capitalisation of  $ 140.95 Billion. JPMorgan Chase & Co. is an American multinational banking corporation of securities, investments and retail. It is the largest bank in the United States by assets. It is a major provider of financial services, with assets of $2 trillion and according to Forbes magazine is the world’s second largest public company based on a composite ranking. The hedge fund unit of JPMorgan Chase is one of the largest hedge funds in the United States. It was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.

The J.P. Morgan brand is used by the investment banking as well as the asset management, private banking, private wealth management and treasury & securities services divisions. Fiduciary activity within private banking and private wealth management is done under the aegis of JPMorgan Chase Bank, N.A.—the actual trustee. The Chase brand is used for credit card services in the United States and Canada, the bank’s retail banking activities in the United States, and commercial banking.

 

 

5. Agricultural Bank of China

People’s Republic of China

The Agricultural Bank of China have a total market capitalisation of $ 141.73 Billion. Agricultural Bank of China Limited (ABC), also known as AgBank, is one of the “Big Four” banks in the People’s Republic of China. It was founded in 1951, and has its headquarters in Beijing. It has branches throughout mainland China, Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul, and Singapore.

ABC has 320 million retail customers, 2.7 million corporate clients, and nearly 24,000 branches. It is China’s third largest lender by assets. ABC went public in mid-2010, fetching the world’s biggest ever initial public offering (IPO). As of 2011, it ranks 8th among the Top 1000 World Banks, meanwhile Forbes Global 2000 named it the 25th-largest public company in the world.

 

 

4. HSBC Holdings

United Kingdom

HSBC have a market capitalisation of $ 150.90 Billion as of January 2012. HSBC Holdings plc (commonly known as HSBC) is a British multinational banking and financial services company headquartered in London, United Kingdom. As of 2012, it was the world’s third-largest bank and sixth-largest public company according to a composite measure by Forbes magazine.

HSBC is a universal bank and is organised within four business groups: Commercial Banking; Global Banking and Markets (investment banking); Retail Banking and Wealth Management (retail banking and consumer finance); and Global Private Banking. It has around 7,200 offices in 85 countries and territories across Africa, Asia, Europe, North America and South America and around 89 million customers. As of 31 March 2012, it had total assets of $2.637 trillion, of which roughly half were in Europe, a quarter in the Americas and a quarter in Asia.

 

 

3. Wells Fargo & Co.

United States of America

Well Fargo and Co. have a market capitalisation of $ 160.72 Billion. Wells Fargo & Company (WFC) is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit cards. In 2011, Wells Fargo was the 23rd largest company in the United States. Wells Fargo is headquartered in San Francisco, California, but has major “hubquarters” in other cities throughout the country.

In 2007 it was the only bank in the United States to be rated AAA by S&P, though its rating has since been lowered to AA- in light of the financial crisis of 2007–2012. The firm’s primary U.S. operating subsidiary is national bank Wells Fargo Bank, N.A., which designates its main office as Sioux Falls, South Dakota.

 

 

2. China Construction Bank

People’s Republic of China

China Construction Bank have a total market capitalisation of $ 195.85 Billion. China Construction Bank Corporation (CCB) is one of the ‘big four’ banks in the People’s Republic of China. In 2011 CCB was the second largest bank in the world by market capitalization and 13th largest company in the world. The bank has approximately 13,629 domestic branches. In addition, it maintains overseas branches in Frankfurt, Hong Kong, Johannesburg, New York, Seoul, Singapore, Tokyo, and Sydney, and a wholly owned subsidiary in London. Its total assets reached 8.7 trillion RMB in 2009.

 

 

1. Industrial & Commercial Bank of China (ICBC)

People’s Republic of China

ICBC is the largest bank in the world by market capitalisation, it has a total of $ 240.95 Billion market capitalisation as of January, 2012. Industrial and Commercial Bank of China Ltd. (ICBC) is the largest bank in the world by profit and market capitalization. It is one of China’s ‘Big Four’ state-owned commercial banks (the other three being the Bank of China, Agricultural Bank of China, and China Construction Bank). It was founded as a limited company on January 1, 1984. As of March 2010, it had assets of RMB 12.55 trillion (US$1.9 trillion), with over 18,000 outlets including 106 overseas branches and agents globally. In 2011, it ranked number 7 on Forbes Global 2000 list of worlds biggest public companies.

 

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