World Safest Banks | Top 50 Biggest Banks 2017

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. 

Source: Asset values from Fitch Ratings