5 China’s Largest Banks  

 

5 China’s Largest Banks- According to the annual report of 2024, there are five China’s Biggest Banks in 2024. These banks have extensive markets in China with many branches and customers. As a country that has the biggest population in the world, around 1.41 billion people, this country has enormous potential.

 

Along with Chinese economic reform led by Deng Xiaoping, from state ownership and central planning to market-oriented reforms, China can improve their economic conditions from time-to-time Gross Domestic Product (GDP). The private sector grows remarkably because of the permission of its citizens to do business. Economically, until 2024, from the data of IMF, China still becomes the second-biggest country in GDP after United States of America. China's Gross Domestic Products is around $19.25 trillion.

 

With the condition of increasing of prosperity in China and huge population of this country, China still became the potential market to the company from domestic and foreign. Bank is the financial institution that has an extensive market in China. Many banks in China, but few of them have become the largest bank in China. Here are the 5 China’s Biggest Banks in 2024. These data were obtained from Annual reports from each company in 2024.

 

The Rank of China’s Biggest Banks in 2024 based on Total Assets

 

Rank	Name of China's Bank	Total Assets	Total Assets	Total Liabilities	Total Liabilities
		(in Renminbi (RMB))	(in US Dollar (USD))	(in Renminbi (RMB))	(in US Dollar (USD))
1	Industrial and Commercial Bank of China	RMB 48,821 billion	USD 6,834 billion	RMB 44,834 billion	USD 6,276 billion
2	Agricultural Bank of China	RMB 43,328 billion	USD 6,065 billion	RMB 40,140 billion	USD 5,619 billion
3	China Construction Bank Corporation	RMB 40,571 billion	USD 5,679 billion	RMB 37,227 billion	USD 5,211 billion
4	Bank of China	RMB 35,061 billion	USD 4,908 billion	RMB 32,108 billion	USD 4,495 billion
5	Postal Savings Bank of China	RMB 17,084 billion	USD 2,931 billion	RMB 16,053 billion	USD 2,247 billion
Source: Annual report, 2024
Description:
	US Dollar = Currency from Yuan Renminbi (RMB) Which has been converted into US Dollar (USD)
Currency Rate:
1 Renminbi (RMB)= 0.14 US Dollar (USD)

 

The data above was obtained from the Balance sheet of the bank in 2024. The balance sheet above can describe the financial positions. The bank with more assets than liabilities is in an advantageous position. With less liabilities, the bank can expand the business rather than focusing on paying back the loans or debts.

 

The Rank of China’s Biggest Banks in 2024 based on Net Income

  

Rank	Name of China's Bank	Total Revenue	Total Revenue	Net Income	Net Income
		(in Renminbi (RMB))	(in US Dollar (USD))	(in Renminbi (RMB))	(in US Dollar (USD))
1	Industrial and Commercial Bank of China	RMB 786 billion	USD 110 billion	RMB 366.9 billion	USD 51.3 billion
2	China Construction Bank Corporation	RMB 728 billion	USD 101.9 billion	RMB 336 billion	USD 47 billion
3	Agricultural Bank of China	RMB 711 billion	USD 99.5 billion	RMB 282 billion	USD 39.8 billion
4	Bank of China	RMB 632 billion	USD 88 billion	RMB 252 billion	USD 35 billion
5	Postal Savings Bank of China	RMB 349 billion	USD 48.86 billion	RMB 86.7 billion	USD 12.1 billion
Source: Annual report, 2024
Description:
	US Dollar = Currency from Yuan Renminbi Which has been Converted into US Dollar
Currency Rate:
1 Renminbi (RMB)= 0.14 US Dollar (USD)

 

The data about Revenue and net income was obtained from the Income Statement of the banks in Annual Report 2024. In the income statement, the business of the bank can be observed. The bank with net income showed efficiency and effectiveness in doing the business from a specific time.

 

Brief Description of China’s Largest Banks in 2024

 

 

1.Industrial and Commercial Bank of China (ICBC)

Industrial and Commercial Bank of China Ltd (ICBC) is a China-based Bank founded in Beijing in 1984. This Bank is owned by the Chinese Central Government with 70.82% of stake ownership and meanwhile, the minority shareholders are Temasek Holdings, a Singaporean-based Investment Company, with 2.44% of share ownership. Furthermore, on 27 October 2006, the Bank was successfully listed on Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited. Along with business development, ICBC has provided diversified financial products and financial services to over 13 million corporate customers and 766 million personal customers around the world. Operationally, along with business development, ICBC has around 15,365 branches of office. Compared to other banks in China, Industrial and Commercial Bank of China Ltd (ICBC) will still become the biggest bank in China based on Total Assets and Net Income in 2024.

Financially, based on the annual report released by ICBC in 2024, the ICBC has total assets around 44,697 billion RMB or equivalent to 6,257 billion US Dollar and total liabilities around RMB 44,834 billion or equivalent to USD 6,834 billion. Based on the business performance in 2024, Industrial and Commercial Bank of China Ltd (ICBC) successfully gained total revenue RMB 786 billion or equivalent to USD 110 billion and successfully reaped net Income of RMB 367 billion or equivalent to USD 51 billion.

 

2.China Construction Bank Corporation

China Construction Bank Corporation (CCB) is another biggest bank in China and The World. Historically, it was founded in Beijing, China on 1 October 1954 and still has a primary office in Beijing, China. The China Construction Bank Corporation provides customers with some financial services, including corporate finance business, personal finance business, treasury and asset management business and others, serving 771 million personal customers and 11.68 million corporate customers. Moreover, China Construction Bank Corporation has subsidiaries in various sectors, including fund management, financial leasing, trust, insurance, futures, pension, and investment banking. At the end of 2024, China Construction Bank Corporation had 376,847 staff members and 14,750 operating entities. In terms of banking performance of 2024, China Construction Bank successfully penetrated net loans to customers RMB 25,040 billion and collected deposits from customers around RMB 28,713 billion.

Financially, in 2024, Based on the published annual report released by the Company, the China Construction Bank (CCB) has total assets around RMB 40,571 billion or equivalent to USD 5,679 billion and total liabilities around RMB 37,227 billion RMB or equivalent to USD 5,211 billion. Based on the business performance in 2024, the China Construction Bank (CCB) successfully gained total revenue around RMB 728 billion or equivalent to USD 101.9 billion US Dollar with the net Income RMB 336 billion or equivalent to 46 billion US Dollar.

 

3.Agricultural Bank of China 

Agricultural Bank of China (ABC), commonly known as AgBank or ABC, is one of the biggest banks and financial services from China. Historally, it was founded on July 10, 1951. Until now, this bank has had a primary office in Beijing, China. Along with business progress and development, In the year of 2024, Agricultural Bank of China (ABC) penetrated total loans to customers reaching RMB 24,906 billion and successfully collected deposits from its customers up to RMB 30,305 billion. Operationally, as of 2024, Agricultural Bank of China (ABC) had 22,877 domestic branch outlets located in China and 13 overseas branches and 4 overseas representative offices.

Financially, based on the annual report of the publishing company in 2024, the Agricultural Bank of China (ABC) has total assets around RMB 43,328 billion or equivalent to USD 6,065 billion with total liabilities around RMB 40,140 billion or equivalent to USD 5,619 billion. Based on the business performance in 2024, the Agricultural Bank of China successfully gained the total revenue around RMB 711 billion or equivalent to USD 99.5 billion and net income around RMB 282 billion or equivalent to USD 39.8 billion.

 

4.Bank of China           

Bank of China is one of the oldest and biggest banks in China. Historically, it was founded in Beijing, China in 1912 by Chen Jintao. Along with business development, in 2024, Bank of China penetrated total loans to customers RMB 21,594 and successfully collected deposits from its customers around RMB 24,202 billion. Operationally, as of 2024, Bank of China provides some financial services to its customers including Corporate Financing (Trade Services, Corporate Financial Services, RMB Settlement Services, Corporate Savings, Other Services), Personal Savings (Personal Loans, Personal Wealth Management, Personal Exchange, Other Services), and bank card (Credit Cards and Debit Cards).

In the financial and business aspects, according to its 2024 annual report, Bank of China has total assets RMB 35,016 billion or equivalent to USD 4,908 billion and total liabilities around RMB 32,108 billion or equivalent to USD 4,495 billion. Based on the business performance in 2024, Bank of China gained total revenue RMB 632 billion or equivalent to USD 88 billion and net income around RMB 252 billion or equivalent to USD 35 billion.

 

5. Postal Savings Bank of China     

 

Historically, the Postal Savings Bank of China started its business in 1919. Along with business development, Postal Savings Bank of China has managed approximately 40,000 outlets and services covering over 660 million personal customers. Commonly, Postal Savings Bank of China provide some financial services including Personal Banking (Savings Business, Micro Loan, Settlement Business, Bank Card, Foreign Exchange Business, Consumer Credit Business, Personal Online Banking) and Corporate Banking (Corporate Deposits, Company Settlement, Cash Management, Negotiable Instruments, Corporate Financing, Trade Finance, Custody Business, Financial Markets Business, SME Operating Index, Corporate Online Banking).

 

Related to financial and business aspects, according to its annual report of 2024, Postal Savings Bank of China has total assets of around RMB 17,084 billion or equivalent to USD 2,931 billion with total liabilities of around RMB 16,053 billion or equivalent to USD 2,247 billion. In terms of business performance in 2024, Postal Savings Bank of China has gained total revenue of around RMB 349 billion or equivalent to USD 48.86 billion with total net income of around RMB 86.7 billion or equivalent to USD 12.1 billion.

 

The Summary of The Rank of China’s Biggest Banks in 2024 based on Total Assets

 

The Summary of The Rank of China’s Biggest Banks in 2024 based on Net Income

 

 

Bibliography of The Top 5 China’s Largest Banks in 2024

 

International Monetary Fund. 2025. World Economic Outlook database: April 2025. accessed via

https://www.imf.org/en/Publications/WEO/weo-database/2022/April/weo-report?c=924,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,&sy=2022&ey=2022&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 on August 30th, 2025

Industrial and Commercial Bank of China. 2025. Annual Report 2024. Accessed via http://www.icbc-ltd.com/ICBCLtd/Investor%20Relations/Financial%20Information/Financial%20Reports/  on August 30th, 2025.

China Construction Bank Corporation. 2025. Annual Report 2024. Accessed via http://www.ccb.com/en/investorv3/annualreports/annals.html?ptId=6&ctId=1  on August 30th, 2025.

Agricultural Bank of China. 2025. Annual Report 2024. Accessed via https://www.abchina.com/en/investor-relations/performance-reports/annual-reports/  on August 30th, 2025.

Bank of China. 2025. Annual Report 2024. Accessed via https://www.bankofchina.co.id/en-id/top/about-us/financial-report/annual-report.html  on August 30th, 2025.

Postal Savings Bank of China. 2025. Annual Report 2024. Accessed via https://www.psbc.com/en/investor_relations/announcement/index_6.html on August 28th, 2025.