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Which Is The Richest Bank In The World – Journal – Publication – Asset Management – The world’s largest banks, measured by total assets, 2023
With assets of $5.5 trillion, Industrial and Commercial Bank of China Limited is the world’s largest bank, measured by total assets. Given its size and dominance, it’s no surprise that ICBC ranks high in terms of financial stability and profitability. To find the world’s largest banks, we looked at the size of the assets of institutions that serve consumers and small businesses. A bank’s assets include, but are not limited to, loan balances, mortgages, and credit card accounts. This is the latest data from major banks up to January 30, 2023.
Which Is The Richest Bank In The World
With assets totaling nearly $3.3 trillion, JPMorgan Chase & Co. It is the fifth largest bank in the world and the largest bank in the United States. The bank’s main office is located in New York City. JPMorgan Chase & Co. was founded (NYSE: JPM) was founded in 1799 as the Manhattan Bank Company. In terms of asset size, here are the world’s largest banks, with total assets of more than $1 trillion.
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All four banks have something in common, and it’s not what you think. They are the four largest banks in the world in terms of assets.
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Unless you are familiar with the Chinese financial system, you may not have heard of it. But you may have heard of some of the world’s largest banks on this list, such as JPMorgan Chase Bank, Bank of America, Wells Fargo, and Citibank.
These major US banks hold their own against competitors from China, Japan, France and Spain. Find out where they rank on the World’s Top 20 Banks list.
These are the 20 largest banks in the world right now. Each tab includes the bank’s size by total assets, along with some additional details:
1. Industrial and Commercial Bank of China Industrial and Commercial Bank of China originated from the Central Bank of China and is still closely supervised by the country’s central government. It was and remains very important to Chinese state-owned enterprises, which provide important water. Assets: $5.10 trillion
Largest Banks In The World By Total Assets
Like your neighborhood trust fund kid, the Industrial and Commercial Bank of China (ICBoC) was born in third base.
It was in the mid-1980s that the People’s Bank of China split into two. ICBoC is a unique type of business, built to contribute to China’s fast-growing industry. What was left of the People’s Bank of China became the country’s central bank, similar to the central bank of the United States.
Although still under the control of the Chinese government, IBoC was one of the only commercial banks for a long time, allowing it to thrive while liberalizing the country’s economy. Today it is the largest bank in the world by some distance.
2. CCB CCB is a state-owned bank in China, which has been important to the development of the country’s real estate market. It now does business on at least three continents and is listed on the Hong Kong Stock Exchange. Assets: $4.31 trillion
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China Construction Bank is a major Chinese bank that is controlled by the government and is important to the country’s economy. Founded in the 1950s, it has grown alongside China’s once-dormant private equity market, although it is sometimes marred by allegations of corruption and authoritarianism.
Today, CCB is under Chinese supervision, but was part of Bank of America for a time and does business in Southeast Asia and Europe. It also has a small base in the US, but is not a big player here.
3. Agricultural Bank of China “AgBank” is a Chinese government enterprise that was originally established to support the country’s agricultural industry. Today, it is a major commercial bank with offices in major financial centers around the world and around 24,000 branches (mainly in China). Assets: $4.16 trillion
The Agricultural Bank of China, or “AgBank” as it is known in the industry, is a government-controlled financial institution that is vital to China’s economy.
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The backstory is remarkable even by the standards of the Chinese financial system. Various institutions known as “Agricultural Bank of China” or “Agricultural Bank of China” have existed since the 1940s, and all have since been abolished except for the “current” AgBank, which dates back to 1979.
Today, AgBank is more sleepy than Farmers Bank. It went public in 2010 in what was then the world’s largest IPO, raising millions of dollars for US backers such as Goldman Sachs and Morgan Stanley. It has offices in many countries and more than 20,000 retail branches.
4. Bank of China Bank of China is the youngest and oldest of the “big four” banks owned by the Chinese government. Formerly the country’s central bank, it gave that role to the People’s Bank of China in the 1980s and is now the country’s second largest commercial bank. Assets: $3.74 trillion
The Bank of China emerged from the Republic of China, which succeeded the Qing Dynasty in 1912, and continued to rule until the Communist government took over in 1949. (The Republic of China remained on the island of Taiwan, which is claimed by China continental. ) How is it.)
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For most of its history, the Bank of China was the central bank and controlled the country’s printed currency. Although this role ended in 1942, the bank continued to exist and actually grow from the start of the communist era, despite strict measures on private lending and property.
Today, Bank of China is more focused on commercial lending and foreign exchange than the other “Big Four” Chinese banks. However, it is the second largest lender in the country and no less important than the other three banks.
5. JPMorgan Chase’s predecessor, the Manhattan Corporation, aided the rapid growth of New York City in the 19th century. Today, JPMorgan Chase is the largest bank in the United States and the largest seller of credit cards for consumers and small businesses. Assets: $3.31 trillion
JPMorgan Chase & Co. It takes its name from the 19th century financier J.P. Morgan, who was once so rich and powerful that he saved the US government from financial crisis. But he did not find the previous institution of the bank. This happened in 1799, many years before Morgan was born.
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This predecessor, the Manhattan Company, grew over the years into a financial corporation called The Chase Manhattan Company, which eventually merged with JPMorgan & Co. in the year 2000 to create the modern system that everyone knows as Chase Bank.
Chase did well for the next twenty years. It grew in size during the Great Financial Crisis, mostly at the expense of investment giants like Washington Mutual and Bear Stearns, and helped save the U.S. auto industry by facilitating the $23 billion initial public offering of General Motors in 2010. Today, Chase is a household name with around 5,000 branches, cash-back and travel points and a large commercial and consumer lending division.
6. BNP Paribas BNP Paribas is the largest bank outside of China and the United States. Formed from the 2000 merger of Banque Nationale de Paris and Paribas (formerly Banque de Paris et des Pays-Bas), it is one of the largest commercial and consumer lenders in Europe. Assets: $3.05 trillion
The history of BNP Paribas goes back to 1848, when a series of democratic revolutions shook ambitious Europe. The first previous institution, Comptoir National d’escompte de Paris
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