10 largest public banks in the world
The S& P Global Market Intelligence agency has compiled a rating of the 100 largest banks in the world. Consider the changes over the past year and make the top 10 public banks in terms of assets.
Rating
1 — Industrial and Commercial Bank of China
The first line of the rating is occupied by the Chinese ICBC. The bank's assets at the end of 2021 exceeded $5.5 trillion. ICBC founded in 1987 and is listed on the Hong Kong and Shanghai stock exchanges. The bank has branches almost all over the world, most of all in Asia and Europe.
ICBC is one of the four largest state-owned banks in China. The following 3 places in the ranking are also included in this list, they remain the largest banks in the world
2 — China Construction Bank
The assets of the China Construction Bank are estimated at $4.7 trillion. The organization is engaged in lending, investment activities, and deposits, serves individuals and legal entities. The bank was founded in 1954 and shares are traded on the Hong Kong and Shanghai stock exchanges.
3 — Agricultural Bank of China Limited
This agricultural bank was founded in 1951 by Mao Zedong. Assets at the end of 2021 amounted to $4.5 trillion. Shares are listed on the same exchanges - in Hong Kong and Shanghai. The bank is mainly engaged in issuing loans, most of the branches are located on the territory of mainland China, there are foreign representative offices.
4 — Bank of China
The last Chinese bank in the top 10. Founded in 1912 through the transformation of Ta Ching Government Bank, it is the oldest bank in China still in operation. The shares are traded in the same place as those listed above. Assets last year left $4.2 trillion. In addition to banking services, Bank of China is engaged in asset management and insurance.
5 — JPMorgan Chase & Co
An American financial conglomerate founded in 1789. It is one of the Big Four US banks, along with Bank of America, Citigroup and Wells Fargo. In 2021, JPMorgan moved up from sixth to fifth with $3.7 trillion in assets. The bank's activities are mainly related to investments, financial services, transactions and asset management. The shares are listed on the New York Stock Exchange and are available on the St. Petersburg Exchange under the ticker JPM.
6 — Mitsubishi UFJ Financial Group
The Japanese bank, which fell from fifth place in the rankings last year, has assets estimated at $3.2 trillion. The bank was founded in 2005 by merging two largest financial groups. The credit institution's shares are listed on the Nagoya, Tokyo and New York stock exchanges.
7 — Bank of America
Another American financial conglomerate with a wide range of financial services. Last year, the bank, climbed from ninth to seventh with $3.2 trillion in assets. BAC fell short of Mitsubishi UFJ by only $7.3 billion.
Bank of America was formed in 1998 after the merger of two American banks. The shares are traded on the New York Stock Exchange and are available on the St. Petersburg Exchange under the ticker symbol BAC.
8 — HSBC
The abbreviation stands for Hongkong and Shanghai Banking Corporation, with this name the bank was founded in 1865 in Hong Kong to finance trade between China and Europe. It was the first bank in Hong Kong, previously only foreign representative offices were present there.
The bank absorbed the English credit organization Midland, in 1992 the process was completed and HSBC Holdings appeared - the largest bank in the UK. Last year, his assets amounted to over $2.9 trillion, and his place in the ranking has not changed. The shares are traded on the London, Hong Kong and New York stock exchanges.
9 —BNP Paribas
French financial conglomerate, one of the big four banks in the country. Assets — $2.9 trillion. During the year, the bank will drop in the rating from the seventh line. The shares are traded on the Euronext exchange.
10 — Credit Agricole Group
Closes the rating of another French conglomerate of the big four banks in the country. Last year, assets amounted to $2.6 trillion, the place in the ranking has not changed. The bank's shares are traded on the Euronext and the Italian Stock Exchange.
Source: S&P Global Market Intelligence
What else?
Chinese banks have maintained their leadership status as the largest financial institutions in the world. European banks are losing positions: 26 out of 37 institutions have dropped 1-9 positions in the ranking. The total assets of all European banks in the list decreased by 2.16% y/y, to $36.8 trillion in 2021.
The combined assets of the top four Chinese banks rose 10.2% to $19.1 trillion in 2021 from $17.3 trillion a year earlier. Beijing is pushing banks to expand lending to infrastructure projects and small businesses while cutting key interest rates to free up more liquidity, said Nathan Stovall, chief analyst at Market Intelligence.
Major US banks such as JPMorgan Chase & Co, Bank of America and Goldman Sachs have increased their balance sheets in 2021, which has led to an increase in their rating by asset size. The lack of government stimulus and the Fed's efforts to combat elevated inflation, including by reducing the balance sheet, will lead to a slowdown in the growth of bank assets in the future, Stovall said.
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