List of largest banks explained

The following are lists of the largest banks in the world, as measured by total assets and market capitalization.

By total assets

This list is based on the April 2024 S&P Global Market Intelligence report of the 100 largest banks in the world. The ranking was based upon assets as reported and was not adjusted for different accounting treatments.^[1] Another publication which compiles an annual list of the world's largest banks is The Banker magazine. It publishes a list of the World 1000 Largest Banks every July.^[2] The financial data published by the July yearly issue of The Banker are much more extensive compared to the S&P Top 100 banks, but it is not a publication intended for the general public.

Accounting treatment affects the assets reported: for example, the United States uses US GAAP (as opposed to IFRS), which only reports the net derivative position in most cases, leading to US banks having fewer derivative assets than comparable non-US banks.^[3] If Goldman Sachs reported under the IFRS, it would be ranked 17th on the list, rather than 26th.

data-sort-type="number"	Rank	Bank name	Total assets (2023) (US$ billion)
1	Industrial and Commercial Bank of China	6,303.44
2	Agricultural Bank of China	5,623.12
3		5,400.28
4	Bank of China	4,578.28
5	JPMorgan Chase	3,875.39
6	Bank of America	3,180.15
7	HSBC	2,919.84
8	BNP Paribas	2,867.44
9	Mitsubishi UFJ Financial Group	2,816.77
10	Crédit Agricole	2,736.95
11	Postal Savings Bank of China	2,217.86
12	Citigroup	2,200.83
13	SMBC Group	2,027.34
14	Banco Santander	1,986.36
15	Bank of Communications	1,982.89
16	Wells Fargo	1,932.47
17	Mizuho Financial Group	1,923.56
18	Barclays	1,891.72
19	Société Générale	1,717.49
20	UBS	1,717.25
21	Groupe BPCE	1,706.80
22	Goldman Sachs	1,641.59
23	Japan Post Bank	1,625.60
24	Royal Bank of Canada	1,566.41
25	China Merchants Bank	1,555.30
26	Deutsche Bank	1,450.57
27	Industrial Bank (China)	1,432.59
28	Toronto-Dominion Bank	1,428.29
29	China CITIC Bank	1,276.63
30	Crédit Mutuel	1,262.95
31	Shanghai Pudong Development Bank	1,207.18
32	Morgan Stanley	1,193.69
33	Lloyds Banking Group	1,122.76
34	China Minsheng Bank	1,082.37
35	ING Group	1,078.35
36	Intesa Sanpaolo	1,066.74
37	Scotiabank	1,041.11
38	Bank of Montreal	990.19
39	China Everbright Bank	955.14
40	NatWest Group	882.30
41	UniCredit	872.90
42	Commonwealth Bank	868.74
43	Banco Bilbao Vizcaya Argentaria	857.25
44	Standard Chartered	822.84
45	La Banque postale	815.91
46	Ping An Bank	787.93
47	State Bank of India	780.05
48	ANZ Group	769.59
49	Canadian Imperial Bank of Commerce	726.27
50	DZ Bank	712.49
51	Norinchukin Bank	702.03
52	National Australia Bank	683.41
53	Rabobank	678.45
54	CaixaBank	671.13
55	Westpac	664.50
56	U.S. Bancorp	663.49
57	Nordea	662.71
58	Capital One	629.99
59	Sberbank of Russia	581.88
60	Commerzbank	571.64
61	Huaxia Bank	562.58
62	PNC Financial Services	561.58
63	DBS Group	560.10
64	Itaú Unibanco	555.72
65	KB Financial Group	551.94
66	Danske Bank	542.81
67	Truist Financial Corp	535.35
68	Shinhan Financial Group	533.48
69	Resona Holdings	527.53
70	Sumitomo Mitsui Trust Holdings	520.34
71	Bank of Beijing	503.31
72	China Guangfa Bank	495.55
73	Charles Schwab Corporation	493.18
74	HDFC Bank	464.34
75	Bank of Jiangsu	457.25
76	Hana Financial Group	456.47
77	Banco do Brasil	447.72
78	Nationwide Building Society	446.95
79	China Zheshang Bank	443.37
80	OCBC	441.53
81	Bank of Shanghai	435.14
82	ABN AMRO	417.72
83	BNY	409.88
84	United Overseas Bank	396.62
85	Banco Bradesco	394.76
86	Nonghyup Bank	394.46
87	Nomura Holdings	388.42
88	Woori Financial Group	382.05
89	KBC Group	383.47
90	Caixa Econômica Federal	377.29
91	Erste Group	372.67
92	Landesbank Baden-Württemberg	368.41
93	Bank of Ningbo	365.96
94	SEB Group	358.79
95	Raiffeisen Group	352.87
96	Handelsbanken	351.79
97	Industrial Bank of Korea	345.81
98	DNB	339.21
99	Qatar National Bank	338.14
100	VTB Bank	326.85

Banks by country or territory

Number of banks in the top 100 by total assets

Rank	Country	Number
1		20
2		12
3		8
4	United Kingdom	6
		6
		6
7		5
8		4
		4
		4
11		3
	Netherlands	3
		3
14	Switzerland	2
		2
	India	2
		2
		2
19		1
		1
	Belgium	1
		1
		1
		1

By market capitalization

Forbes maintains a list of top ten largest banks in the world, ranked by their market capitalization. The list was updated on May 2, 2024.

Many of the largest banks in the world are part of larger bank holding companies. This structure allows them to offer various financial services, making them more resilient and competitive in the global market.^[4]

data-sort-type="number"	Rank	Bank name	Market cap (US$ billion)
1		551.03
2	Bank of America	288.96
3	Industrial and Commercial Bank of China	249.28
4	Wells Fargo	208.41
5	Agricultural Bank of China	207.79
6	Bank of China	171.35
7	China Construction Bank	166.19
8	HSBC	161.05
9	Morgan Stanley	155.58
10	HDFC Bank	153.01

See also

• List of systemically important banks
• List of largest banks in Africa
• List of largest banks in the Americas
• List of largest banks in North America
• List of largest banks in Latin America
• List of largest banks in Southeast Asia
• List of largest banks in the United States
• List of banks in Europe
• List of banks in Asia
• List of banks in Oceania
• List of banks in Africa

Notes and References

1. Web site: Jimenea . Adrian . Wu . John . Terris . Harry . 30 April 2024 . The world’s largest banks by assets, 2024 . 8 May 2024 . spglobal.com . S&P Global Market Intelligence.
2. Web site: Banker . The . Top 1000 . 26 August 2023 . www.thebanker.com . en-GB.
3. Web site: World's 100 Biggest Banks: China's ICBC #1 . 12 February 2014 . Forbes.
4. News: The 10 largest banks in the world by market capitalization as of January 2024 .