10 Richest Banks in the World
Bank is a financial institution that has the basic function of keeping deposits from the general people and also provides credit to them. They have an important role in the financial system of any country and have a significant impact on any nation’s economy. There are basically two types of banks. First, one is commercial or retail banks and the second one is investment banks. You might have heard in the news that some particular bank has provided a huge amount of credit to a particular firm. But have you ever wondered that how much worth of these assets these banks are possessing? Many of the banks deal with billions and trillions worth of assets. So let’s discuss the top 10 richest banks in the world. In this list, we will cover those banks on the basis of the value of the total assets possessed by them.
- Credit Agricole Group
Also famous as “Green Bank” this bank was founded in 1885 and has been serving since then. With its long history of service from 131 years bank, it is basically a French group of cooperative and mutual banks that totaled consists of 39 Credit Agricole Regional Banks. Its headquarters are located in Montrouge, France. In 1990 it started functioning as a banking group which provides all types of financial services on an international level. As per the data of 2013, it has around 150,000 employees. The value of total assets possesses by the company is $1911.27 billion.
- Bank of America
Bank of America is a multinational banking and financial services corporation of American origin. The company is headquartered in Charlotte, North Carolina. On the basis of possession of assets, it is the second-largest bank holding company in the United States of America. It provides its operation through the network of 5,100 banking centers, 16,300 ATMs, and call centers. It possesses total assets worth of $2149.03 billion.
- Mitsubishi UFJ Financial Group
Mitsubishi UFJ Financial Group is a Japanese bank holding company or we can say Japanese Financial Services Company. It has its headquarters located in Chlyoda, Tokyo, Japan. It is one of the major companies under the Mitsubishi Group. It holds the position of Japan’s largest financial Group and in terms of a world; it is the second largest bank holding company. On the basis of market capitalization, Mitsubishi UFJ financial Group is the second largest public company in Japan. It was formed on October 1, 2005, as a merger of Tokyo centered Mitsubishi Tokyo Financial Group (MTFG) and an Osaka-based company named as UFJ holdings. Till 2015 it has 106,800 employees. The value of its total asset is around $2323.24 billion.
- BNP Paribas
BNP Paribas is a multinational bank and financial services company belonging to French origin. It has been headquartered at Boulevard des Italiens, Paris. The value of total assets possessed by the company is$ 2400.04 billion. It is amongst the famous and largest banks in the world. It was founded in 2000 as a result of a union of Banque Nationale de Paris (BNP) and Paribas. Till 2014 it was giving employment to 185,000 employees. It is basically a universal bank which has its operations divided into two strategic business divisions. First, one is Retail Banking and Services and the second one is Corporate and Industrial Banking.
- JPMorgan Chase and Company
JPMorgan Chase and Company is one of the famous multinational banking and financial services company. The company has its headquarters located in the New York City. It was founded on December 1 in the year 2000 and has been serving people since then. It was formed with the merger of Chase Manhattan Corporation and J.P.Morgan and Co. As per the record it is the largest bank in the United States of America and also it holds the title of World’s sixth largest bank on the basis of its total assets. As per the data in 2015, it has around 235, 678 employees. It has total assets worth $2449.60 billion.
- Bank of China
Bank of China was founded in 1912 by the Republican government in order to replace the then existing Imperial Bank of China. It possesses total assets worth $2629.31 billion. It is amongst the 5 biggest state-owned commercial banks present in china and also the oldest bank since its inception still operating in China. It a public company and have been serving people for 102 years. It has its headquarters in Xicheng District of Beijing. As per the data till 30 June 2015, it possesses third highest fraction of interest allocated to Chinese companies. Till 2013, it has around 305,675 employees. It is owned By Government of China.
- HSBC Holdings
HSBC Holdings plc is a British multinational banking and financial services company. It has its headquarters located in Canary Wharf, London, United Kingdom. On the basis of possession of total assets of US$ 2.67 trillion, it holds the position of world’s fourth largest bank. Till 2014 it gives employment to 266, 273 people. It has its operation available in 71 countries through 6000 offices.
- Agricultural Bank of China
Agricultural Bank of China was founded in 1951 and it has its network of branches spread throughout Mainland China, London, New York, Tokyo, Hong Kong, Frankfurt, Seoul, Sydney and Singapore. It possesses assets worth $2816.60 billion. It is amongst the “Big Four” banks present in the People’s Republic of China. Its headquarters are located in Dongcheng District, Beijing. The Government of the People’s Republic of China has 46.6% stake in ownership of this bank.
- China Construction Bank Corporation
China Construction Bank Corporation or CCB is also amongst the “big four” banks in the People’s Republic of China. On the basis of market capitalization, it has been the second largest bank in the world in 2015. Also, it holds the position of the sixth largest company in the world. On an approx. the bank has a widespread network of around 13,629 branches on the domestic level. It’s headquarter is located in Beijing China. It was founded in 1954 and has been serving since 62 years. It has total assets worth $2939.15 billion.
- Industrial and Commercial bank of China
Industrial and Commercial bank of China or ICBC is a China-based multinational banking company. On the basis of market capitalization and possession of total assets worth $3616.39 billion, it is number one richest bank in the world. It is also amongst the “Big Four” state-owned commercial bank of China. It has been serving for the duration of 32 years and was founded on January 1, 1984. It is the first Chinese bank to be able to possess the title of “World Richest Bank”