Which Bank Is The Largest In The World

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Which Bank Is The Largest In The World

Which Bank Is The Largest In The World

All four of these banks have one thing in common, and it’s not what you think. They are the world’s four largest banks by assets.

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If you’re not familiar with China’s financial system, you probably haven’t heard of any of them. You may have heard of other major international banks on this list, such as JPMorgan Chase Bank, Bank of America, Wells Fargo, and Citibank.

These major US banks are holding off their rivals in China, Japan, France and Spain. Find out where they fit on the list of the 20 largest banks in the world.

These are now the 20 largest banks in the world. Each listing has added value with some notable new features:

1. The Industrial and Commercial Bank of China grew out of the Central Bank of China and is closely controlled by the country’s central government. It is important to China’s large state-owned enterprises, where it supplies critical water. Value: $5.10 trillion

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Like your typical domestic trust fund baby, the Industrial and Commercial Bank of China (ICBoC) was born into a third bank.

It began in the mid-1980s when the People’s Bank of China split into two. The ICBoC is a quasi-commercial body created to finance fast-growing state-owned enterprises. What remains of the People’s Bank of China is the country’s central bank, like the US Federal Reserve.

Despite being controlled by the Chinese state, the ICBoC was for a long time one of the only commercial banks, which gave it the edge to grow as agriculture accelerated. Today it is the largest bank in the world.

Which Bank Is The Largest In The World

2. China Construction Bank China Construction Bank is a state-controlled Chinese bank that has played an important role in the development of the country’s private real estate market. It does business in at least three countries and is publicly traded on the Hong Kong Stock Exchange. Value: $4.31 trillion

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China Construction Bank is a large Chinese state-controlled bank that plays an important role in the country’s commercial sector. Founded in the 1950s, it has grown alongside China’s private equity market, if at times beset by corruption and privatization.

Today, China Construction Bank lives under the thumb of the Chinese government, but is a subsidiary of Bank of America and does business between Southeast Asia and Europe. It has a small footprint in the US but is not a major economic operator here.

3. Agricultural Bank of China “AgBank” is a Chinese state-owned enterprise originally established to support the agricultural industry. Today it is a diversified commercial bank with offices in major financial centers around the world and around 24,000 branches (in China). Value: $4.16 trillion

Agricultural Bank of China, or “AgBank” as it is known in the industry, is a state-owned financial institution that benefits China’s economy.

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His background is unusual in the context of the Chinese financial system. Various institutions known as “Agricultural Bank of China” or “Agricultural Bank of China” have existed since the 1940s. All but the “current” AgBank, incorporated in 1979, have closed.

Today, AgBank is much more than a sleepy farm bank. In 2010, it announced the world’s largest IPO, generating millions of dollars in fees for US backers such as Goldman Sachs and Morgan Stanley. It has offices in several countries and has over 20,000 sales members.

4. Bank of China Bank is the smallest and oldest of the “big four” national banks. Once the country’s central bank, it ceded that role to the People’s Bank of China in the 1980s and is now the country’s second-largest bank. Value: $3.74 trillion

Which Bank Is The Largest In The World

The Bank of China traces its roots to the Republic of China, which replaced the Qing dynasty in 1912 and remained in power until the Communist government took over this year. 1949. on his own.).

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For most of its history, the Bank of China operated as a quasi-central bank, managing the country’s printed money supply. Although this practice was abolished in 1942, banking continued to flourish in the early communist era, despite strict restrictions on private credit and ownership.

Today, Bank of China focuses more on commercial loans and foreign exchange than the “big four” Chinese banks. However, it is the country’s second largest lender and is just as important as the other three.

5. JPMorgan Chase Bank JPMorgan Chase’s predecessor, The Manhattan Company, was instrumental in the rapid growth of New York City in the 1800s. Today, JP Morgan Chase is the largest bank in the United States. It is a leading supplier to consumers and small businesses. Business cards. Value: $3.31 trillion

JP Morgan Chase & Co. It was named after the late 19th century investor J.P. Morgan, the wealthy and powerful, came forward to save the US government from a financial crisis. But he did not know the first business of the bank. That was in 1799, the year before Morgan was born.

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First, a proto-coutomerate called The Manhattan Company grew over the years into a separate financial institution called The Chase Manhattan Company, which later merged with JPMorgan & Co.

Chase did well over the next 20 years. He thrived during the Great Financial Crisis at the expense of bankrupt firms such as Washington Mutual and Bear Stearns, and helped save the U.S. auto industry by facilitating General Motors’ $23 billion IPO in 2010. Today, Chase is a surname with enk. Proximity. 5,000 members including credit and travel cards, large rental agencies and small businesses.

6. BNP Paribas BNP Paribas is the largest bank outside China and the US. Formed in 2000 from the merger of Banque Nationale de Paris and Paribas (formerly Banque de Paris and Des Paces-Pas), it is one of Europe’s largest banks and brokerages. Value: $3.05 trillion

Which Bank Is The Largest In The World

BNP Paribas traces its history to 1848, when a series of democratic revolutions shook Europe. His first company, Comptoir National d’escompte de Paris (CNEP), was created from the ashes of the French financial system and quickly grew into one of the country’s largest banks.

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CNEP continued to grow through acquisitions until World War I, which devastated the European economy. But the bank survived that shock and the biggest war since World War II. On a side note: the last French government privatized CNEP and three major French banks, turning them into state-owned enterprises. This remained the case until it was “re-privatized” in 1993, when CNEP was renamed Banque Nationale de Paris.

BNP Paribas’ other predecessor, Banque de Paris et des Pays-Bas, followed a similar path of growth through acquisitions, nationalizations and divestitures. In 2000 the two merged to form Europe’s largest bank. Today, BNP Paribas rules despite heavy sanctions on the US in 2014.

7. Credit Agricole Credit Agricole is the world’s largest financial institution. With deep roots in the French agricultural economy, it is a popular regional bank for millions across the country and a major contributor to European senior finance. Value: $2.41 trillion

Crédit Agricole began serving French farmers and small agricultural businesses, and struggled to find reliable credit for decades in the 19th century. Major changes in French law in the 1880s allowed the development of mutual banks – that is, groups of people who pooled their money to lend to others – and Crédit Agricole was one of the early adopters.

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The idea had legs, and Crédit Agricole quickly expanded its network of retail banks across the French countryside. By 1900, it was more of a traditional bank than a farmer-owned financial institution, with a portfolio of financial products and services. It was important in the reconstruction of the country after the two world wars.

Crédit Agricole began expanding overseas in the 1970s, with branches in major financial centers such as Chicago, and diversified into insurance in the 1990s. Today in Europe and parts of Africa, the Middle East and North America.

8. Bank of America From humble 20th-century roots in San Francisco’s immigrant communities, Bank of America has grown into an American lending powerhouse.

Which Bank Is The Largest In The World

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