China and Europe dominate the largest-bank rankings.

Author:
Project Coordinator:

Chinese banks now account for 12 of the 50 largest banks in the world, when ranked by assets, but European banks continue to be the largest regional contingent, contributing 20 of the largest 50.

Japan’s Mitsubishi UFJ Financial Group is the fourth biggest bank in this year’s rankings, moving up from fifth last year. The strengthening of the Japanese yen during 2016 led to significant increases in asset size, when measured in dollars, for several Japanese banks. The same five Japanese banks feature in this year’s list of the 50 biggest as last year.

Industrial and Commercial Bank of China retains its position as the world’s biggest bank, followed by China Construction Bank and Agricultural Bank of China, respectively. Bank of China falls to fifth place due to the rise of Mitsubishi UFJ Financial Group.

The 20 European banks in the top 50 come from eight different countries, with the UK contributing five and France four. HSBC Holdings, in seventh place, is the biggest European bank, just ahead of BNP Paribas in eighth place.

JPMorgan Chase is the biggest American bank, taking sixth place in the global rankings. Six US banks feature in the largest 50. This is one fewer than last year, as a result of our decision this year to exclude Prudential Financial, since its business model is based on insurance and asset management rather than banking.

Commerzbank is the other bank that was included last year but does not make the top 50 this year, though this is due to its asset size rather than to a change in our selection methodology. The two new banks to appear this year are Westpac at 49th and Agricultural Development Bank of China at 48th. Westpac’s inclusion takes the number of Australian banks in the list to four. Canada contributes three banks, the same as last year.

China is the only emerging-market country to contribute banks to the list of the 50 biggest in the world. The two biggest banks in the ranking had assets of more than $3 trillion each at the end of 2016, and each of the 10 biggest banks had assets greater than $2 trillion. The 25 biggest banks all had more than $1 trillion each in assets.

The 50th largest bank this year, National Australia Bank, had assets of $593.3 billion compared to $579.9 billion last year for the 50th biggest bank, Commerzbank. Overall, the total assets of the world’s 50 largest banks is 2% higher than last year. 

 

50 Biggest Global Banks 2017

Rank

Group Name

 Country

Total Assets
USD mn

1

Industrial and Commercial Bank of China

China

3,473,088

2

China Construction Bank Corporation

China

3,016,447

3

Agricultural Bank of China

China

2,815,917

4

Mitsubishi UFJ Financial Group

Japan

2,626,286

5

Bank of China

China

2,611,426

6

JPMorgan Chase

United States

2,490,972

7

HSBC Holdings

United Kingdom

2,374,986

8

BNP Paribas

France

2,189,268

9

Bank of America

United States

2,187,702

10

Japan Post Bank

Japan

2,046,218

11

China Development Bank

China

1,943,930

12

Wells Fargo

United States

1,930,115

13

Crédit Agricole

France

1,816,010

14

Citigroup

United States

1,792,077

15

Mizuho Financial Group

Japan

1,742,392

16

Sumitomo Mitsui Financial Group

Japan

1,693,008

17

Deutsche Bank

Germany

1,676,553

18

Barclays

United Kingdom

1,492,343

19

Société Générale

France

1,456,984

20

Banco Santander

Spain

1,411,537

21

Groupe BPCE

France

1,302,034

22

Sparkassen-Finanzgruppe

Germany

1,246,015

23

Bank of Communications

China

1,209,123

24

Norinchukin Bank

Japan

1,008,842

25

Lloyds Bank

United Kingdom

1,006,019

26

Royal Bank of Scotland

United Kingdom

982,478

27

UBS

Switzerland

918,664

28

UniCredit

Italy

906,011

29

ING

Netherlands

890,778

30

Royal Bank of Canada

Canada

880,592

31

TD Bank

Canada

878,137

32

Industrial Bank

China

875,694

33

Goldman Sachs

United States

860,165

34

China Merchants Bank

China

855,033

35

China CITIC Bank

China

853,413

36

China Minsheng Bank

China

848,352

37

Shanghai Pudong Development Bank

China

842,796

38

Morgan Stanley

United States

814,949

39

Crédit Suisse

Switzerland

805,523

40

BBVA

Spain

771,430

41

Intesa Sanpaolo

Italy

764,309

42

Rabobank

Netherlands

698,422

43

ANZ

Australia

698,054

44

Commonwealth Bank of Australia

Australia

692,914

45

Scotiabank

Canada

668,706

46

Nordea

Sweden

648,950

47

Standard Chartered

United Kingdom

646,692

48

Agricultural Development Bank of China

China

644,401

49

Westpac

Australia

640,319

50

National Australia Bank

Australia

593,333

Source: Asset values from Fitch Ratings