Each and every day, billions and billions of dollars are passed between banks around the world. Due to the way in which banks work, most of them should be in a constant state of growth. Providing the economy the are in is not faltering, then they should constantly be making money. Here, we are going to take a look at some of the biggest banks in the world. You may be surprised about which banks hit the list and which ones fail to make the cut.
In terms of assets, this state-owned bank is by far the largest in the world. It has assets totally $3.62 trillion, although revenues are slightly smaller at $134.8 million.
This is a commercial bank, although it is owned by the government of China. Part of the reason why the Industrial & Commercial Bank of China is so large is down to the fact that it manages the finances of some of the richest people in the world. They also deal with serious investments.
There is a prediction that this bank is going to get considerably larger over the years, particularly as more companies are starting to shift their manufacturing to China, and this does not show any signs of slowing down either.
This is another Chinese bank to make our list. This one deals with mostly corporate banking, although a small amount of business also comes from personal banking, a lot of which involves wealth management for high net worth individuals.
Profits have been rising year on year for China Construction Bank Corp, with assets currently at the $2.94 trillion marks.
This bank is based in Beijing, although it has branches in all of the major financial capitals of the world. As you can likely guess from the name, this bank mostly deals with agricultural companies, which is a huge part of Chinese business. When it invests, it tends to aim for mid-level companies, which is a far cry from some of the others on this list.
Profits have been rising for the company, although the company is having to cut profit margins to try and gain some business. The asset total of $2.82 trillion. While the bank is growing, it is growing at a slower pace than some of the other companies on this list.
The fourth, and final, Chinese bank on this list is the Bank of China. This bank mostly deals with investment banking. The assets for the company are $2.63 billion. However, this is one only a few companies on our list where the profits are falling. However, when you are competing against three other huge banks in China, this is very much to be expected.
This is an English bank, although it is one of the largest banks in the world with branches in 80 different countries, including 1,800 branches in the United Kingdom alone. HSBC offers a good mix of banking services, with the bulk of its cash coming from corporate banking and investment.
It is unknown how long HSBC is going to remain in the list of some of the biggest banks in the world, mostly because it is impossible to predict the outcome of Brexit. We can expect that HSBC will likely move some of its operates around and will suffer little to no ill effect from Brexit, although there may be a small shrinkage in its $2.57 trillion in assets should the economy in the United Kingdom shrink even a little bit.
This is the sixth largest bank in the world and the largest in the US. There is a good chance that JPMorgan Chase & Co. could overtake HSBC in the near future, as their assets of $2.45 trillion are just so close. It is predicted that their share price is going to rise quite rapidly over the coming months too, due to a lot of companies opting to invest in the growth of JPMorgan Chase & Co.
There are a lot of European countries set to benefit from Brexit, and this French bank is likely to be one of them. It is the second largest bank in the European Union, and soon it will be the largest. It currently has assets of $2.4 trillion and is going through a rapid amount of growth around the world, with operations currently in 75 countries with plans to add more to the tally.
This Japanese bank mostly deals with consumer banking, although there are business banking options available too. At the moment, the assets total for the bank is pretty close to BNP Paribas, and both of them regularly switch when it comes to their overall ‘size’.
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