Banks have been part of our lives since the beginning of civilization for the very important role they play not only as a safe depository for people’s personal money but for the services they provide to support a country’s economy.  They are vital for today’s growing businesses, startups and globalization and provide services such as loans, bank account services, insurances, foreign exchange, and many more.

With very strong competition between global banks, the differentiating factor between the best and the remaining banks boils down to factors like loan rates and online services such as customer touch points, multiple ATMs, smartphone apps, net banking and the like.

There are several websites that provide bank rankings based from information gathered from the banks’ balance sheets published in the Bankers Almanac and other sources.  Rankings may differ but the four top banks remain the same.

1. Industrial & Commercial Bank of China

In terms of assets, ICBC has the largest in the world totaling $3.62 trillion.  However, measured by revenues, the bank comes at fourth largest in the world with a revenue close at $134.8 billion.

ICBC is a stated-owned commercial bank providing loans, financing for businesses, credit cards, and money management for high-net-worth individuals and companies.  In addition, the bank also provide services such as money market vehicles, investing opportunities and exchange and transfer services.

2. China Construction Bank Corp.

The second Chinese bank on the list, this bank has a total asset of $2.94 trillion.  The bank offers corporate banking such as credit, company e-banking, credit lines, and commercial loans while the personal banking segment provides personal loans, credit cards, deposits and wealth management for individual investors.  The Treasury sector deals with money markets, debt securities, and currencies.

3. Agricultural Bank of China

State-owned Agricultural Bank of China has a total asset of $2.82 trillion, the third largest bank in the world. With branches across China, London, Tokyo, New York, and Sydney,  it is also the third largest company in the world.

Its largest growth segment is mid-sized companies.  Among its clients are small farmers and large agricultural wholesale companies as well as non-agricultural companies.

4. Bank of China

With a total asset of $2.63 trillion, the Bank of China is the fourth largest bank in the list.  It offers investment banking, insurance and investing services.  It also provides personal loans, credit card services, debit cards, mortgages, asset and liability management and insurance.

5. HSBC Holdings (HSBC)

HSBC is based in England but has offices in 80 countries and has 1,800 locations in UK alone.  The bank provides private banking and consumer finance, as well as corporate banking and investment services. HSBC has $2.57 trillion in assets.

6. JP Morgan Chase & Co. (JPM)

The first bank on the list that is based in the United States, JPM has headquarters in New York but is a multinational bank.  Its assets total $2.45 trillion.

Though ranked sixth largest bank in the world, it is the largest bank in the United States.  The bank provides investment services, asset management, wealth management and securities.

7. BNP Paribas

This French bank has assets of $2.4 trillion.  The bank has offices in 75 countries including the United States.  BNP is the second among banks in the euro zone in 2016.

8. Mitsubishi UFJ Financial Group

The group has total assets worth $2.459 trillion, while assets for the bank total $2,901.34 billion.  The bank offers consumer banking, as well as business and private banking.  It also offers asset management and real estate banking.

9. Bank of America

This U. S. bank offers services for personal banking, small businesses, mid-sized businesses, and large corporations.  Services include investment in addition to its deposit and checking accounts.  With nearly 5,000 retail outlets, its asset totals $2.15 trillion.

10. Crédit Agricole Group

The second French bank on the list, this bank has assets totaling $1.91 trillion.  This bank provides services to farmers and has 39 offices in the country. The group is a network of 39 French banks.

Do you know the top 10 banks in the Philippines in terms of assets?  According to this website ( these are the following banks and their published assets:

  1. BDO – 2,092,685.54
  2. Metrobank – 1,398,305.31
  3. Landbank– 1,335,098.49
  4. BPI – 1,310,656.25
  5. Security Bank – 680,724.30
  6. PNB – 677,733.07
  7. DBP – 492,453.29
  8. China Bank – 488,012.59
  9. RCBC – 415,035.50
  10. UnionBank – 410,563.48

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