Banks have played a vital and irreplaceable role in the history of economies around the world and the entire institution that they represent continuous to thrive and grow today. With a combined assets of $25.81 trillion, the world’s top ten largest banks are found scattered across the globe, mostly within the superpowers from Asia, North America, and Europe. Based on the 2017 Forbes Global 2000 and data from the annual S&P Global Intelligence rankings, these are the top countries with the largest banks in terms of assets:
Many analysts aren’t surprised that Chinese banks once again dominated the rankings this year. The Industrial and Commercial Bank of China together with China Construction Bank took the first and the second spot, with a $3.47 trillion and $3.02 trillion of total assets, respectively. The Agricultural Bank of China with a $2.82 trillion-asset took the third place for being the largest not just in Asia but globally, followed by Bank of China with a total of $2.60 trillion as of recent data.
U.S. banks are slowly gaining major ground with JPMorgan Chase leading the way with a $2.49 trillion-asset based on the recent global rankings, joining the group of the world’s top banking companies of the same influential financial caliber. As the world’s largest economy (based on nominal GDP), it does not come as a surprise that it also boasts of some of the largest deposits.
Many European banks endured a tough 2016 after surviving several depreciations in its major currencies, the euro and pound, decreasing the relative size of the top countries’ assets piles. Nonetheless, HSBC in UK and BNP Paribas in France still hold a combined asset of over $4.5 trillion. The two are included in the nine European banks that made it to the cut of corporations with more than $1 trillion assets.