Top banks in the world

A wide range of goods and services are offered by banks. These include handling deposits, lending, wealth management, currency exchange, and investment banking. Customers of these banks include private citizens, companies, and a wide range of institutional clientele. Over the past few decades, the commercial bank has seen significant evolution. Large banks today provide savings and checking accounts, certificates of deposit, loans, and other services to their clients, which include individuals and both large and small businesses. Many of them also run firms that act as investment banks and engage with corporate and institutional clients by offering brokerage, M&A advising, and the underwriting of stock offers.

List of 10 top banks in the world

Here are the top 10 banks according to 12-month trailing revenue. Only businesses that trade publicly in the United States or Canada, directly or via ADRs, are included on this list. The 12-month trailing data may be older than it is for companies that report quarterly, as some companies outside of the US report profits semi-annually instead of quarterly.

All numbers are as of March 30, 2020, and YCharts is the source of all data.

Industrial and Commercial Bank of China Ltd. (IDCBY)

Revenue (TTM): $123.6B

Net Income (TTM): $45.3B

Market Cap: $231.8B

1-Year Trailing Total Return: -6.9%

Exchange: OTC

The Industrial and Commercial Bank of China Ltd. is the biggest in the world in terms of total assets managed (AUM). This organization offers credit cards, loans, business finance, and money management services to high-net-worth individuals and enterprises. It is state-owned, despite being a commercial bank.

JP Morgan Chase & Co. (JPM)

Revenue (TTM): $114.6B

Net Income (TTM): $36.4B

Market Cap: $280.1B

1-Year Trailing Total Return: -5.8%

Exchange: New York Stock Exchange

A worldwide bank and holding company for financial services, JPMorgan Chase & Co. engages in a variety of financial services, including consumer and investment banking, asset management, wealth management, and corporate financing. JP Morgan Chase has revealed intentions to solicit up to $10 billion in funding from pension funds and other clients in response to COVID-19 for alternative investments such as leveraged loans and specific kinds of real estate.

Japan Post Holdings Co. Ltd. (JPHLF)

Revenue (TTM): $112.3B

Net Income (TTM): $4.7B

Market Cap: $34.4B

1-Year Trailing Total Return: -28.3%

Exchange: OTC

Japan Post Holdings Co. Ltd. is different from many of the businesses on this list.  It works in banking, life insurance, logistics, and other sectors. The organization is also well-known for its banking division. Japan Post Bank, and its Japan Post branch, also manage post offices and handle mail delivery in Japan.

China Construction Bank Corp. (CICHY)

Revenue (TTM): $102.2B

Net Income (TTM): $38.7B

Market Cap: $196.6B

1-Year Trailing Total Return: -3.7%

Exchange: OTC

China Construction Bank Corp. is the second Chinese bank on our list of the ten largest. It offers business banking services, such as commercial loans, credit lines, and e-banking. Through a different division, China Construction Bank also offers personal banking services, including credit cards, deposits, asset management, and personal loans.

Bank of America Corp. (BAC)

Revenue (TTM): $91.2B

Net Income (TTM): $27.4B

Market Cap: $188.5B

1-Year Trailing Total Return: -18.2%

Exchange New York Stock Exchange

A U.S. bank, Bank of America, provides services for both small and large enterprises. Bank of America offers several business and wealth management services through its global branches in addition to deposit and checking accounts through its Consumer Banking division. The company recently rose to prominence for its willingness to accommodate customer requests for mortgage deferrals during the COVID-19 outbreak. 

 Agricultural Bank of China Ltd. (ACGBY)

Revenue (TTM): $89.7B

Net Income (TTM): $30.9B

Market Cap: $131.5B

1-Year Trailing Total Return: -14.1%

Exchange: OTC

State-owned Agricultural Bank of China offers a variety of products for agricultural clients, including small farms and bigger agricultural wholesale businesses besides personal and corporate banking services.

Credit Agricole SA (CRARY)

Revenue (TTM): $83.4B

Net Income (TTM): $5.4B

Market Cap: $22.3B

1-Year Trailing Total Return: -32.4%

Exchange: OTC

The largest cooperative financial institution in the world by AUM is Credit Agricole SA, the only bank based in Europe among the ten biggest banks. Although the company used to cater to agricultural clients, it currently works with a wide range of private and corporate customers.

Wells Fargo & Co. (WFC)

Revenue (TTM): $82.0B

Net Income (TTM): $19.6B

Market Cap: $123.8B

1-Year Trailing Total Return: -35.4%

Exchange: New York Stock Exchange

For both individual and business clients, Wells Fargo provides a wide range of financial services. Based in San Francisco, it was founded in 1852 and offers banking, investment, and mortgage products and services, as well as consumer and commercial finance.

Bank Of China Ltd. (BACHF)

Revenue (TTM): $79.4B

Net Income (TTM): $27.2B

Market Cap: $109.1B

1-Year Trailing Total Return: -12.7%

Exchange: OTC

The primary areas of concentration for the Bank of China include commercial banking operations, including deposits and withdrawals as well as foreign exchange. The bank is also permitted to print money in Macau and Hong Kong.

Citigroup Inc. (C)

Revenue (TTM): $74.3B

Net Income (TTM): $19.4B

Market Cap: $91.9B

1-Year Trailing Total Return: -25.9%

Exchange: New York Stock Exchange

An international investment bank and provider of financial services, Citigroup also provides global retail banking, institutional financial services, and securities services.

Key takeaways

• Banks provide a variety of products and services. Deposit management, lending, wealth management, currency exchange, and investment banking are a few of them.
• Private citizens, businesses, and a wide spectrum of institutional clients are among the clients of these banks. Large banks today provide their customers with loans, savings and checking accounts, certificates of deposit, and other services.
• Citigroup, Bank of China, Wells Fargo & Co., Bank of America Corp., and JP Morgan Chase & Co. are some of the top banks in the world.

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FAQs

Q1. Which is the richest bank in the world?

Ans- With a market cap of 400.37 USD JP Morgan and Chase is considered the richest bank in the world.

Q2. Why is the Swiss bank so famous? 

Ans- The low levels of financial risk and strong levels of privacy that Swiss bank accounts offer are among its key advantages. The economy of Switzerland is one of the most secure in the world, and there haven’t been any major wars there in hundreds of years.

Q3. Which country has the best banking system?

Ans- Cooperative and savings banks, which carry little risk, dominate Finland’s banking industry. Erkki Liikanen, the governor of the nation’s central bank has taken the lead in advocating for measures to separate deposit-taking and investment banking functions at European lenders.