Banks are often among the biggest companies in the world.
In this graphic, Visual Capitalist's Marcus Lu lists the top 50 banks in the world by consolidated assets, based on a 2023 report from S&P Global Market Intelligence. The data represents each bank’s total assets for the most recent period available.
Chinese Banks Keep on Growing
According to S&P, the four largest Chinese banks grew their assets by 4.1% in 2022, reaching a combined total of $19.8 trillion.
In fact, Chinese banks already account for over a third of the assets held by the largest banks on the planet. Four of the 15 biggest companies in China are banks.
| Rank | Bank | Headquarters | Total Assets |
|---|---|---|---|
| 1 | Industrial and Commercial Bank of China | 🇨🇳 China | $5.7T |
| 2 | China Construction Bank Corp | 🇨🇳 China | $5.0T |
| 3 | Agricultural Bank of China | 🇨🇳 China | $4.9T |
| 4 | Bank of China | 🇨🇳 China | $4.2T |
| 5 | JPMorgan Chase & Co. | 🇺🇸 US | $3.7T |
| 6 | Bank of America | 🇺🇸 US | $3.1T |
| 7 | Mitsubishi UFJ Financial Group | 🇯🇵 Japan | $3.0T |
| 8 | HSBC Holdings | 🇬🇧 UK | $2.9T |
| 9 | BNP Paribas | 🇫🇷 France | $2.9T |
| 10 | Crédit Agricole Group | 🇫🇷 France | $2.5T |
| 11 | Citigroup | 🇺🇸 US | $2.4T |
| 12 | Postal Savings Bank of China | 🇨🇳 China | $2.0T |
| 13 | Sumitomo Mitsui Financial Group | 🇯🇵 Japan | $2.0T |
| 14 | Mizuho Financial Group | 🇯🇵 Japan | $1.9T |
| 15 | Bank of Communications | 🇨🇳 China | $1.9T |
| 16 | Wells Fargo & Co. | 🇺🇸 US | $1.9T |
| 17 | Banco Santander | 🇪🇸 Spain | $1.9T |
| 18 | Barclays PLC | 🇬🇧 UK | $1.8T |
| 19 | JAPAN POST BANK | 🇯🇵 Japan | $1.7T |
| 20 | UBS Group | 🇨🇭 Switzerland | $1.7T |
| 21 | Groupe BPCE | 🇫🇷 France | $1.6T |
| 22 | Société Générale | 🇫🇷 France | $1.6T |
| 23 | Royal Bank of Canada | 🇨🇦 Canada | $1.5T |
| 24 | The Toronto-Dominion Bank | 🇨🇦 Canada | $1.5T |
| 25 | China Merchants Bank | 🇨🇳 China | $1.5T |
| 26 | Goldman Sachs Group | 🇺🇸 US | $1.4T |
| 27 | Deutsche Bank | 🇩🇪 Germany | $1.4T |
| 28 | Industrial Bank | 🇨🇳 China | $1.3T |
| 29 | China CITIC Bank International | 🇨🇳 China | $1.2T |
| 30 | Shanghai Pudong Development Bank | 🇨🇳 China | $1.2T |
| 31 | Morgan Stanley | 🇺🇸 US | $1.2T |
| 32 | Crédit Mutuel | 🇫🇷 France | $1.2T |
| 33 | Lloyds Banking Group | 🇬🇧 UK | $1.1T |
| 34 | China Minsheng Banking | 🇨🇳 China | $1.1T |
| 35 | Intesa Sanpaolo | 🇮🇹 Italy | $1.0T |
| 36 | ING Groep | 🇳🇱 Netherlands | $1.0T |
| 37 | The Bank of Nova Scotia | 🇨🇦 Canada | $1.0T |
| 38 | UniCredit | 🇮🇹 Italy | $917B |
| 39 | China Everbright Bank | 🇨🇳 China | $913B |
| 40 | NatWest Group | 🇬🇧 UK | $868B |
| 41 | Bank of Montreal | 🇨🇦 Canada | $859B |
| 42 | Commonwealth Bank of Australia | 🇦🇺 Australia | $837B |
| 43 | Standard Chartered | 🇬🇧 UK | $820B |
| 44 | La Banque Postale | 🇫🇷 France | $797B |
| 45 | Ping An Bank | 🇨🇳 China | $772B |
| 46 | Banco Bilbao Vizcaya Argentaria | 🇪🇸 Spain | $762B |
| 47 | The Norinchukin Bank | 🇯🇵 Japan | $753B |
| 48 | State Bank of India | 🇮🇳 India | $695B |
| 49 | Canadian Imperial Bank of Commerce | 🇨🇦 Canada | $691B |
| 50 | National Australia Bank | 🇦🇺 Australia | $680B |
The Chinese financial market is followed by the American market on our list, with six U.S. banks combining for $13.7 trillion in assets.
The top 10 on the list include four Chinese banks, two American institutions, two French, one Japanese, and one British.
The biggest climber on our rank was Swiss UBS Group AG. The bank surged to 20th place from 34th in 2021. Its $1.6 trillion asset size has been adjusted to incorporate troubled Credit Suisse Group AG, which UBS agreed to take over in an emergency deal orchestrated by the Swiss authorities in March 2023.
Assets held by the 100 largest banks totaled $111.97 trillion in 2022, down 1.5% from $113.67 trillion a year earlier. Some of the reasons include high inflation, interest rate hikes, and the Russia-Ukraine war, which dampened global economic growth and investor sentiment.
