15 Largest Banks In The World of 2023
15 largest banks in the world of 2023-According to the Annual Report data from each bank in 2022, there are 15 Largest banks in the world. Of course, they are the big bank in the world with billion US. Dollar of revenues and income annually. The assets of these bank spread over in many countries.
So far, in monetary system, banks are financial institutions which has significant role in maintaining the stability of the world economy. Functionally, this institution plays a role in absorbing excess funds from the community and give the funds to their users/ customers as capital loans for business activities and consumptive activities. So far, banks can be the bridge between the interests of people who have excess funds and people who need money. In addition, various banking products with various uniqueness are offered to consumers so that they have alternatives in managing finances.
Historically, since the time of Assyria and Babylonia era until now followed with various technological advances that have occurred, there are some of the biggest banks in the world. These banks certainly have large assets and huge of net income. From the financial report data / annual report in 2022, there are 15 Largest Banks in the World in 2022. This data came from the Annual Report / Annual Report of the Company in 2022.
The Rank of Bank is based on the financial positions and business performance. The rank of financial position can be observed from balance sheet of company. Meanwhile, the business performance of the company can be observed based on the income statement of the company.
The Rank 15 largest banks in the world based on Financial Position of Assets and Liabilities
|
Rank |
Name of Company |
Assets |
Assets |
Liabilities |
Liabilities |
|
Origin Currency |
US Dollar |
Origin Currency |
US Dollar |
||
|
1 |
Industrial and Commercial Bank of China |
RMB 44,697 Billion |
USD 6,257 Billion |
RMB 40,920 Billion |
USD 5,728 Billion |
|
2 |
Agricultural Bank of China |
RMB 39,872 Billion |
USD 5,582 Billion |
RMB 36,976 Billion |
USD 5,176 Billion |
|
3 |
China Construction Bank Corporation |
RMB 38,324 Billion |
USD 5,365 Billion |
RMB 35,152 Billion |
USD 4,921 Billion |
|
4 |
Bank of China |
RMB 32,432 Billion |
USD 4,540 Billion |
RMB 29,675 Billion |
USD 4,154 Billion |
|
5 |
J.P. Morgan Chase |
USD 3,875 Billion |
USD 3,875 Billion |
USD 3,547 Billion |
USD 3,547 Billion |
|
6 |
Bank of America (BAC) |
USD 3,180 Billion |
USD 3,180 Billion |
USD 2,888 Billion |
USD 2,888 Billion |
|
7 |
HSBC Holdings PLC |
USD 3,038 Billion |
USD 3,038 Billion |
USD 2,846 Billion |
USD 2,846 Billion |
|
8 |
BNP Paribas |
EUR 2,591 Billion |
USD 2,876 Billion |
EUR 2,462 Billion |
USD 2,732 Billion |
|
9 |
Mitsubishi UFJ Financial Group |
JPY 397,496 Billion |
USD 2,742 Billion |
JPY 378,959 Billion |
USD 2,614 Billion |
|
10 |
Citigroup |
USD 2,411 Billion |
USD 2,411 Billion |
USD 2,205 Billion |
USD 2,205 Billion |
|
11 |
Banco Santander |
EUR 1,797 Billion |
USD 2,196 Billion |
EUR 1,692 Billion |
USD 1,878 Billion |
|
12 |
Sumitomo Mitsui Banking Corporation |
JPY 295,236 Billion |
USD 2,037 Billion |
JPY 280,436 Billion |
USD 1,935 Billion |
|
13 |
Wells Fargo |
USD 1,932 Billion |
USD 1,932 Billion |
USD 1,745 Billion |
USD 1,745 Billion |
|
14 |
Mizuho Financial Group |
JPY 278,672 Billion |
USD 1,922 Billion |
JPY 268,360 Billion |
USD 1,851 Billion |
|
15 |
Japan Post Bank |
JPY 233,907 Billion |
USD 1,613 Billion |
JPY 224,200 Billion |
USD 1,546 Billion |
|
Source : Annual report, 2023 |
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Description : |
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Origin Currency : Currency officially Used in Annual Report 2023 |
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US Dollar = Currency from Origin Currency Which has been Converted into
US Dollar |
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Currency Rate : |
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|
1 Renminbi (RMB)= 0.14 US Dollar
(USD) |
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1 Japanese Yen (JPY) = 0.0069 US dollar (USD) |
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1 Euro = 1.11 US Dollar (USD) |
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These data about the assets and liabilities above was obtained from the balance sheet of the annual report in 2022. The assets describe all physical and non-physical assets which the company has owned. Furthermore, Liabilities is about the obligation or financial debts that company must pay back in the futures. Its components include current liabilities and non-current liabilities. Company with bigger assets than liabilities commonly in good conditions to do business. They have huge of resource to do business without thinking about obligation to pay the debts.
The Rank 15 Largest Banks in The World based on Business Performance of Revenue and Net Income
|
Rank |
Name of Company |
Revenue |
Revenue |
Net Income |
Net Income |
|
Origin Currency |
US Dollar (USD) |
Origin Currency |
US Dollar (USD) |
||
|
1 |
Industrial and Commercial Bank of China |
RMB 806 Billion |
USD 112 Billion |
RMB 65 Billion |
USD 51 Billion |
|
4 |
J.P. Morgan Chase |
USD 158 Billion |
USD 158 Billion |
USD 49.5 Billion |
USD 49.5 Billion |
|
2 |
China Construction Bank Corporation |
RMB 745 Billion |
USD 113.7 Billion |
RMB 332 Billion |
USD 46.4 Billion |
|
3 |
Agricultural Bank of China |
RMB 695 Billion |
USD 97 Billion |
RMB 269 Billion |
USD 37.6 Billion |
|
5 |
Bank of China |
RMB 624 Billion |
USD 87 Billion |
RMB 246 Billion |
USD 34 Billion |
|
6 |
Bank of America (BAC) |
USD 98.5 Billion |
USD 98.5 Billion |
USD 26.5 Billion |
USD 26.5 Billion |
|
7 |
HSBC Holdings PLC |
USD 66 Billion |
USD 66 Billion |
USD 24.5 Billion |
USD 24.5 Billion |
|
9 |
Wells Fargo |
USD 82.5 Billion |
USD 82.5 Billion |
USD 19.1 Billion |
USD 19.1 Billion |
|
10 |
Banco Santander |
EUR 57.4 Billion |
USD 63.7 Billion |
EUR 12.1 Billion |
USD 13.4 Billion |
|
11 |
BNP Paribas |
EUR 45.8 Billion |
USD 50.8 Billion |
EUR 11.4 Billion |
USD 12.6 Billion |
|
8 |
Citigroup |
USD 78.5 Billion |
USD 78.5 Billion |
USD 9.2 Billion |
USD 9.2 Billion |
|
13 |
Mitsubishi UFJ Financial Group |
JPY 7,107 Triilion |
USD 49.03 Billion |
JPY 1,328 Billion |
USD 9.1 Billion |
|
12 |
Sumitomo Mitsui Banking Corporation |
JPY 9,353 Billion |
USD 64 Billion |
JPY 968 Billion |
USD 6.6 Billion |
|
14 |
Mizuho Financial Group |
JPY 8,744 Billion |
USD 60 Billion |
JPY 678 Billion |
USD 4.6 Billion |
|
15 |
Japan Post Bank |
JPY 2,651 Billion |
USD 18.2 Billion
|
JPY 355 Billion |
USD 2.4 Billion |
|
Source : Annual report, 2023 |
|||||
|
Description : |
|||||
|
|
Origin Currency : Currency officially Used in Annual
Report 2023 |
||||
|
|
US Dollar = Currency from Origin Currency Which has
been Converted into US Dollar |
||||
|
Currency Rate : |
|||||
|
1 Renminbi (RMB)=
0.14 US Dollar (USD) |
|||||
|
1 Japanese Yen (JPY) = 0.0069 US dollar (USD) |
|||||
|
1 Euro = 1.11 US Dollar (USD) |
|||||
The data above about revenue and income came from Income statement of company. The revenue and income/loss that company was earned in specific time reflects the efficiency and effective of company in doing the business. The consistent of company in reaping the profit can be the indicators that companies has stability in doing business.
Brief Description of 15 largest banks in the world of 2022
1.Industrial and Commercial Bank of China
Industrial and Commercial Bank of China Ltd is China-based Bank found in Beijing in 1948. This Bank owned by Chinese Central Government with 70.82% of stake ownership. In 2023, this bank has gotten the biggest revenue and Net income than the other banks in the world. On 27 October 2006, the Bank was successfully listed on Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited. Financially, based on the annual report of ICBC in 2023, the bank has assets around 44,697 billion RMB/ 6,257 billion US Dollar and liabilities around RMB 40,920 Billion / USD 5,728 Billion. Based on the business performance in 2023, the company gained the revenue RMB 806 Billion RMB / USD 112 Billion and successfully reaped net Income of RMB 65 Billion / USD 51 Billion .
2.J.P. Morgan Chase
JP Morgan Chase & Co. become one of the biggest banks in United States of America and the World. This is one of America’s Big Four banks, besides Bank of America, Wells Fargo, and Citigroup. Operationally, this bank has primary office in New York City, New York. Historically, the establishment of J.P. Morgan Chase is the merger from several financial institution, namely Chase Manhattan Bank, J.P. Morgan & Co., Bank One, Bear Stearns and Washington Mutual. In 2023, based annual report, the company has assets around 3,875 billion US Dollar and liabilities around 3,547 billion US Dollar. Based on the business performance in 2023, this bank gained revenue of 158 billion US Dollar and Net Income around 49.5 billion US Dollar.
3.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 primary office in Beijing, China. Financially, in 2023, Based on Published Annual report by the Company, the company has assets around 38,324 billion RMB/ 5,365 billion US Dollar and liabilities around 35,152 billion RMB/ 4,921 billion US Dollar. Based on the business performance in 2023, the company gained the revenue around 745 billion RMB/ 113.7 billion US Dollar and reaped the net Income 323 billion RMB/ 46 billion US Dollar.
4.Agricultural Bank of China
Agricultural Bank of China (ABC), commonly known as AgBank, is one of the biggest banks from China. It was founded on July 10, 1951. Until now, this bank has primary office in Beijing, China. Financially, based on the annual report of Published company in 2023, the company has assets around 39,872 billion RMB/ 5,582 billion US Dollar with liabilities around liabilities 36,976 billion RMB/ 5,6176 billion US Dollar. Based on the business performance in 2023, the company gained the revenue around 695 billion RMB/ 97 billion US Dollar and net income around 269 billion RMB/ 37.6 billion US Dollar.
5.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. Financially, the company has assets 28,913 billion RMB/ 4,336 billion US Dollar and liabilities around 26,346 billion RMB/ 3,951 billion US Dollar. Based on the business performance in 2023, the company gained revenue 624 billion RMB/ 87 billion US Dollar and net income around 246 billion RMB/ 34 billion US Dollar.
6.Bank of America
The Bank of America Corporation, simply known as Bank of America. in 1998, bank of America is formed as the merger between Bank America and Nations Bank. Operationally, this bank has two primary office Charlotte, North Carolina, U.S. (Corporate) and New York (Investment banking). Based on the financial position on Balance sheet in 2023, the company has assets around 3,180 billion US Dollar and liabilities around 2,888 billion US Dollar. Meanwhile, in 2023, the bank gained positive performance with gaining revenue 98.5 billion US Dollar and net Income around 26.5 billion US dollar.
7.Citigroup
Citigroup Inc. or Citi is one of biggest big four bank in the United States of America. Historically, this bank was formed on October 8, 1998, as the merger of Citicorp and Travelers Group to create the world’s largest financial services. Based on the financial position on balance sheet in 2023, this bank has assets around 2,411 billion US Dollar and liabilities around 2,205 billion US Dollar. Based on the business performance in 2023, the company gained revenue around 78.5 billion US Dollar and Net Income around 9.2 billion US Dollar.
8.Wells Fargo
Wells Fargo & Company is American-based Bank founded Henry Wells and William Fargo. This bank has central office in San Francisco, California, U.S., and New York. Financially, based on annual report 2023, the company has assets around 1,932 billion US Dollar and liabilities 1,745 billion US Dollar. Based on the business performance in 2023, the company has revenue around 82.5 billion US Dollar and net Income around 19.1 billion US Dollar.
9.HSBC Holdings PLC
This Bank is another biggest bank from Europe continent. This bank has primary office in Canada Square, London, England, UK. This company has assets around 3,038 billion US Dollar and liabilities around 2,846 billion US Dollar. Based on the business performance in 2023, the company gained the revenue around 66 billion US Dollar and net income around 24.5 billion US Dollar.
10.BNP Paribas
BNP Paribas S.A. is one of the biggest banks in the Europe from France. Historically, this bank was formed as the merger of Banque Nationale de Paris S.A. (BNP) and The Banque de Paris et des Pays-Bas S.A. (Bank of Paris and the Netherlands), or Paribas on May 2000. Until now, the company has central office in Boulevard des Italiens, Paris, France. Financially, based on the financial position on 2023, the company has assets of EUR 2,591 Billion / USD 2,876 Billion and liabilities around EUR 2,462 Billion / USD 2,732 Billion. In terms of business performance in 2023, the company gained the revenue around EUR 45.8 Billion / USD 50.8 Billion and net income around Net Income EUR 11.4 Billion / USD 12.6 Billion.
11.Banco Santander
Banco Santander, S.A was founded on 15 May 1857. This Spanish Bank has primary office in Santander and Boadilla del Monte, Madrid. Financially, in 2023, the bank has assets around EUR 1,797 Billion / USD 2,196 Billion and liabilities around EUR 1,692 Billion / USD 1,878 Billion. Based on the business performance in 2023, the company gained the revenue around 57.4 billion Euro /63.7 billion US Dollar and Net Income around 12.1 billion Euro / 13.4 billion US Dollar.
12.Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation Group (SMBC Group). Operationally, this company has central office in in Yurakucho, Chiyoda, Tokyo, Japan. Historically, the establishment of the bank because of was the merger between The Sumitomo Bank and Sakura Bank in April 2001. Based on the financial position in 2023, the company has assets around JPY 295,236 Billion / USD 2,037 Billion and liabilities around Liabilities of JPY 280,436 Billion / USD 1,935 Billion . Based on the business performance in 2022, the company gained the revenue around JPY 9,353 Billion / USD 64 Billion and net income around JPY 968 Billion / USD 6.6 Billion.
13.Mizuho Financial Group
Mizuho Financial Group, Inc. in another biggest bank from Japan. Historically, it was founded by the merger of Dai-Ichi Kangyo Bank, Fuji Bank, and the Industrial Bank of Japan in 2000. Operationally, this bank has primary office in Marunouchi, Chiyoda, Tokyo, Japan. Financially, in 2023, the company has assets around JPY 278,672 Billion / USD 1,922 Billion and Liabilities around JPY 268,360 Billion / USD 1,851 Billion. Based on the business performance in 2023, the company successfully gained the revenue JPY 8,744 Billion / USD 60 Billion and Net Income around JPY 678 Billion / USD 4.6 Billion.
14.Mitsubishi UFJ Financial Group
Mitsubishi UFJ Financial Group is one of the biggest from Japan. Historically, this bank was formed by the merger of UFJ Holdings with the Mitsubishi Tokyo Financial Group in 2005. Operationally, this bank has central office in Yurakucho, Chiyoda, Tokyo, Japan. Based on financial position in 2023, the company has assets around JPY 397,496 Billion / USD 2,742 Billion and liabilities of around JPY 378,959 Billion / USD 2,614 Billion . Based on the business performance in 2023, the company generated revenue JPY 7,107 Billion / USD 49.03 Billion and net income of JPY 7,107 Billion / USD 49.03 Billion .
15.Japan Post Bank
Japan Post Bank Co., Ltd has primary office in Chiyoda, Tokyo, Japan. Financially, the company has assets around JPY 233,907 Billion / USD 1,613 Billion and liabilities around JPY 224,200 Billion / USD 1,546 Billion. Based on the business performance in 2023, the company gained revenue around JPY 2,651 Billion / USD 18.2 Billion or net income around JPY 355 Billion / USD 2.4 Billion .
The Summary of World’s Largest Bank in 2023
Bibliography of 15 World’s Biggest Bank in 2023
Industrial and Commercial Bank of
China. 2024. Annual Report 2023. Accessed via http://www.icbc-ltd.com/ICBCLtd/Investor%20Relations/Financial%20Information/Financial%20Reports/ on
August 28th, 2024.
China Construction Bank
Corporation. 2024. Annual Report 2023. Accessed via http://www.ccb.com/en/investorv3/annualreports/annals.html?ptId=6&ctId=1 on
August 28th, 2024.
Agricultural Bank of China. 2024.
Annual Report 2023. Accessed via https://www.abchina.com/en/investor-relations/performance-reports/annual-reports/ on
August 28th, 2024.
Bank of China. 2023. 2024.
Annual Report 2023. Accessed via https://www.bankofchina.co.id/en-id/top/about-us/financial-report/annual-report.html on
August 28th, 2024.
J.P. Morgan Chase. 2024. Annual
Report 2023. Accessed via on August 28th, 2024.
Bank of America (BAC). 2023.
Annual Report 2022. Accessed via https://investor.bankofamerica.com/annual-reports-and-proxy-statements on
August 28th, 2024.
HSBC Holdings PLC. 2024. Annual
Report 2023. Accessed via https://www.hsbc.com/investors/results-and-announcements/annual-report
on August 28th, 2024.
Mitsubishi UFJ Financial Group
(Mitsubishi). 2024. Annual Report 2023. Accessed via https://www.mufg.jp/english/ir/report/annual_report/index.html on
August 28th, 2024.
BNP Paribas. 2024. Annual
Report 2023. via https://invest.bnpparibas/en/search/reports/documents/financial-reports?s%5Bsubthemes%5D%5B%5D=18 on
August 28th, 2024.
Citigroup. 2024. Annual Report
2023. Accessed via https://www.citigroup.com/citi/investor/annual-reports.html on
August 28th, 2024.
Wells Fargo. 2024. Annual
Report 2023. Accessed via https://www.wellsfargo.com/about/investor-relations/annual-reports/ on
August 28th, 2024.
Sumitomo Mitsui Banking
Corporation. 2024. Annual Report 2023. via https://www.sumitomocorp.com/en/jp/ir/financial/investors-guide/2021 on
August 28th, 2024.
Mizuho Financial Group. 2024. Annual Report 2023. Accessed via https://www.mizuhogroup.com/investors/financial-information/annual on
August 28th, 2024.
Japan Post Bank. 2024. Annual
Report 2023. Accessed via https://www.jp-bank.japanpost.jp/en/ir/financial/en_ir_fnc_annualreport.html on
August 28th, 2024.
Banco Santander. 2024. Annual
Report 2023. Accessed via https://www.santander.com/en/shareholders-and-investors/financial-and-economic-information/annual-report on
August 28th, 2024.