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Top 10 Largest Banks In The World
According to the latest data from relbanks.com, the largest banks in the world are still European banks. American banks have only 1 spots in top 10. Unfortunately Bank of America and Citigroup which were in top 10 in 2010, have fallen off the list. But 3 Asian banks secured a spot in top 10 - one of them Chinese, and two - rapidly growing Japanese.
So here are the top 10 largest banks in the world in terms of assets as of March 2012.
1. Deutsche Bank (Germany)
German Deutsche Bank is financial giant and leader in global banking and financial services. It was founded in 1870 and now has more than $2.8 trillion in assets. Deutsche Bank has more than 13 million clients and more than 1500 branches in Germany alone. It has the offices in 76 countries.
2. Mitsubishi UFJ Financial Group (Japan)
Mitsubishi UFJ Financial Group is young and rapidly growing bank. It was formed in 2005 by the merge of Mitsubishi Tokyo Financial Group (MTFG) with UFJ Holdings. Currently is has $2.64 trillion in assets.
3. HSBC (Great Britain)
A little behind is HSBC of Great Britain with $2.63 trillion in assets. Though British, the bank was founded in Hong Kong in 1865 to finance the trade between China and Europe. Its original name was Hongkong and Shanghai Banking Corporation. After the purchase of English bank Midland, the headquarters of HSBC moved to Great Britain.
4. Industrial & Commercial Bank of China
This is is the largest bank in the world by profit and market capitalization, and has $2.6 trillion in assets. It is a state-owned commercial bank which is part of Chinese 'Big Four' along with the Bank of China, Agricultural Bank of China, and China Construction Bank. As of 2011, Industrial & Commercial Bank of China ranked 7 on Forbes Global 2000 list of worlds biggest public companies.
5. BNP Paribas (France)
BNP Paribas together with Société Générale and Crédit Lyonnais comprises the "big three" of the French banking market. Its main headquarters are in Paris, London and Geneva. In 2010 ranking of the top 50 safest banks in the world, published by magazine Global Finance, BNP Paribas dropped to 18th place (compared to the previous 9th place). In 2010 it was the largest bank in the world with the most assets, but now takes only fifth place having $2.54 trillion in assets.
6. Credit Agricole (France)
Credit Agricole is a French bank which is represented mostly in Europe, but has almost no representation in Great Britain. It has $2.51 trillion in assets. The bank started in 19 century, when many regional agricultural financial institutions were created, that later united and formed bank Credit Agricole.
7. Barclays (Great Britain)
Barclays is another British bank in the top 10 with $2.43 trillion in assets. Its history begins more than 300 years ago, from 1690. Though the name "Barclays" started associating with the bank since 1736. In 2012, in the list of the safest banks, which is published by Global Finance magazine, Barclays was put on the 34th place, which gave it the second place among British banks (after HSBC).
8. Japan Post Bank
As of 2008, Japan Post Bank was reported as being the world's biggest deposit holder. The youngest bank in the top 10, it was established in 2006, and currently has $2.36 trillion in assets.
9. JP Morgan Chase (USA)
This is the only American bank in the top 10 largest banks in the world. It went ahead of Bank of America which was leading among U.S. banks in 2012, but now fallen off the top 10. JP Morgan Chase is one of the most influential financial institutions in the world, and the largest public corporation in the world (according to Forbes). It has $2.32 trillion in assets.
10. Royal Bank of Scotland (Great Britain)
Royal Bank of Scotland (one more British bank) ends the list of top 10 largest banks in the world. It has $2.24 trillion in assets. It was founded in 1727 and currently is one of the largest commercial banks in Scotland and one of three Scottish banks which are allowed to print bills.
Runner Up: Bank of America (USA)
Since I live in the U.S., wanted to point out one more U.S. bank, which is just below top 10, on 11th place. Bank of America is the largest bank in the United States by number of brances and state representation, that has $2.18 trillion in assets. It has more than 6,000 branches in USA alone, and more than 300 outside the country. Bank of America serves clients in more than 150 countries and works with 99% of the U.S. Fortune 500 companies and 83% of the Fortune Global 500. It was sixths in 2010, and was ahead of JP Morgan Chase, but now has fallen off.