5 Biggest Banks of the World

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International banks continue to grow their assets as the world economy expands. If no major economy falters, the expansion may continue. While there is some debate whether China’s economy is bigger than the United States’, there is no questioning which nation is home to the largest banks. Let us take a look at 5 Biggest Banks of the World.

1. Industrial & Commercial Bank of China
biggest banks

This is the largest bank in the world when measured by assets. It has $3.62 trillion in total assets. The bank’s revenues come in at $134.8 billion. Measured by revenues, this is the fourth largest bank in the world.

Though this is a commercial bank, it is state-owned. The bank provides loans, financing for businesses, credit cards, as well as money management for high-net-worth individuals and companies. The bank also offers money market vehicles, investing opportunities and exchange and transfer services. A bank spokesman says that President Trump’s insistence that U.S. companies stop manufacturing in Mexico could be an opportunity for the Chinese bank. It plans to invest in Mexico as U.S. firms pull out.

2. China Construction Bank Corp.

biggest bank

This is the second Chinese bank on our top 10 list. It offers corporate banking, which deals with credit, company e-banking, credit lines and commercial loans. The personal banking segment offers personal loans, credit cards, deposits and wealth management for individual investors.The bank also operates a Treasury sector that deals with money markets, debt securities, and currencies. The China Construction Bank has assets of $2.94 trillion. On March 29, 2017, the bank announced that its profits have risen by 2.8% during the fourth quarter. The bank expects its profit margins to shrink in 2017, and plans to improve pricing on loans.

3. Agricultural Bank of Chinabiggest banks

This Beijing bank has branches across China, plus London, Tokyo, New York and Sydney, Australia. Not only is it the third-largest bank on our list, but it is also one of the 10 largest companies in the world. Agricultural Bank of China is state-owned. The bank deals with small farmers and large agricultural wholesale companies. It also works with non-agricultural companies. Its largest growth segment is mid-sized companies. The bank has assets of $2.82 trillion. The bank reported a fourth-quarter increase in profits of 1.8%, even though its profit margins have been shrinking. Profits in U.S. dollars was $ $26.7 billion.

4. Bank of China

biggest banks
The Bank of China offers investment banking, insurance, and investment services. It also provides personal loans, credit card services, debit cards, mortgages, asset and liability management and insurance. Assets total $2.63 trillion.

In April 2017, the bank sold bonds denominated in four currencies. The sale took place on one day and resulted in $3 billion in capital for the bank. In its latest profit report, the Bank of China reported a 3.7% drop.

5. HSBC Holdings

biggest banks

This is a bank based in England. The bank has offices in 80 countries and has 1,800 locations in the U.K. It provides private banking and consumer finance, along with corporate banking and investment services. HSBC has $2.57 trillion in assets.

Article Source : Investopedia

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