15 Biggest Banks in the World– According to the Annual Report data from each company in 2020, there are the 15 Biggest Banks in the world. Of course, they are the kings of banking indutries in the world with revenues of up to billions of US dollars and assets of up to trillions of US dollars.
So far, banks are part of financial institutions that have an important role in maintaining the stability of the world economy. They certainly play a role in absorbing excess funds from the community and can also channel credit to their users as capital for business activities and consumptive activities. So far, banks have been able to bridge the interests of people who have excess funds to those who lack funds. Nowadays, with the development of technologies, various banking products with various uniqueness are offered to consumers so that they have alternatives in managing finances.
From the time of Assyria and Babylonia until now with various technological advances that have occurred, there are some of the biggest banks in the world. These banks certainly have large assets and huge net income. From the financial report data / annual report in 2020, there are 15 Biggest Banks in the World in 2020. This data is obtained from the Annual Report of the Company in 2020.
Ranking 15 Biggest Banks in The World Based on Net Income / Profits Earned by Companies in 2020
| Rank | Name of Company | Revenue | Revenue | Net Income | Net Income |
|---|---|---|---|---|---|
| Origin Currency | US Dollar | Origin Currency | US Dollar | ||
| 1 | Industrial and Commercial Bank of China | 800 Billion RMB | 120 Billion US Dollar | 317 Billion RMB | 47 Billion US Dollar |
| 2 | China Construction Bank Corporation | 714 Billion RMB | 107 Billion US Dollar | 273 Billion RMB | 41 Billion US Dollar |
| 3 | Agricultural Bank of China | 659 Billion RMB | 98 Billion US Dollar | 216 Billion RMB | 32 Billion US Dollar |
| 4 | Bank of China | 567 Billion RMB | 85 Billion US Dollar | 205 Billion RMB | 30 Billion US Dollar |
| 5 | J.P. Morgan Chase | 119 Billion US Dollar | 119 Billion US Dollar | 29 Billion US Dollar | 29 Billion US Dollar |
| 6 | Bank of America (BAC) | 85 Billion US Dollar | 85 Billion US Dollar | 17 Billion US Dollar | 17 Billion US Dollar |
| 7 | Citigroup | 74.3 Billion US Dollar | 74.3 Billion US Dollar | 11 Billion US Dollar | 11 Billion US Dollar |
| 8 | Sumitomo Mitsui Banking Corporation | 2,768 Billion Yen | 24 Billion US Dollar | 1,085 Billion Yen | 9.5 Billion US Dollar |
| 9 | BNP Paribas | 44 Billion Euro | 51 Billion US Dollar | 7 Billion Euro | 8.6 Billion US Dollar |
| 10 | Mitsubishi UFJ Financial Group (Mitsubishi) | 3,997 Billion Yen | 35.1 Billion US Dollar | 777.0 Billion Yen | 6.8 Billion US Dollar |
| 11 | HSBC Holdings PLC | 63 Billion US Dollar | 63 Billion US Dollar | 6 Billion US Dollar | 6 Billion US Dollar |
| 12 | Credit agricole | 33 Billion Euro | 38 Billion US Dollar | 5.1 Billion Euro | 6 Billion US Dollar |
| 13 | Mizuho Financial Group | 3,360 Billion Yen | 29.5 Billion US Dollar | 477 Billion yen | 4.1 Billion US Dollar |
| 14 | Wells Fargo | 72 Billion US Dollar | 72 Billion US Dollar | 3 Billion US Dollar | 3 Billion US Dollar |
| 15 | Japan Post Bank | 1,799 Billion Yen | 15.8 Billion US Dollar | 273 Billion Yen | 2.4 Billion US Dollar |
| 16 | Banco Santander | 44 Billion Euro | 51 Billion US Dollar | (-7.7 Billion Euro ) | (-8.9 Billion US Dollar) |
| Source : Annual report, 2020 | |||||
| Origin Currency = Currency at the Annual Report | |||||
| Currency Rate : | |||||
| 1 Renminbi (RMB)= 0.15 US Dollar (USD) | |||||
| 1 Japanese Yen (JPY) = 0.0088 US dollar (USD) | |||||
| 1 Euro = 1.16 US Dollar (USD) | |||||
As additional data, we also attach some additional data related to the company’s assets and debts in 2020. This data is taken from the Balance Sheet, from the 2020 Company Annual Report.
Ranking 15 of the Biggest Banks Based on Assets Owned by Companies in 2020
| Rank | Name of Company | Assets | Assets | Liabilities | Liabilities |
|---|---|---|---|---|---|
| Origin Currency | Billion US Dollar | Origin Currency | Billion US Dollar | ||
| 1 | Industrial and Commercial Bank of China | 33,345 Billion RMB | 5,001 | 30,435 Billion RMB | 4,565 |
| 2 | China Construction Bank Corporation | 28,132 Billion RMB | 4,219 | 25,742 Billion RMB | 3,861 |
| 3 | Agricultural Bank of China | 27,205 Billion RMB | 4,080 | 24,994 Billion RMB | 3,749 |
| 4 | Bank of China | 24,402 Billion RMB | 3,660 | 22,239 Billion RMB | 3,335 |
| 5 | J.P. Morgan Chase | 3,386 Billion US Dollar | 3,386 | 3,136 Billion US Dollar | 3,136 |
| 6 | Mitsubishi UFJ Financial Group (Mitsubishi) | 359,473 Billion Yen | 3,163 | 341,757 Billion Yen | 3,007 |
| 7 | HSBC Holdings PLC | 2,984 Billion US Dollar | 29,84 | 2,779 Billion US Dollar | 2,779 |
| 8 | BNP Paribas | 2,488 Billion Euro | 2,886 | 2,371 Billion Euro | 2,750 |
| 9 | Bank of America (BAC) | 2,819 Billion US Dollar | 2,819 | 2,546 Billion US Dollar | 2,546 |
| 10 | Citigroup | 2,260 Billion US Dollar | 2,260 | 2,059 Billion US Dollar | 2,059 |
| 11 | Credit Agricole | 1,916 Billion Euro | 2,222 | 1,893 Billion Euro | 2,195 |
| 12 | Wells Fargo | 1,955 Billion US Dollar | 1,955 | 1,769 Billion US Dollar | 1,769 |
| 13 | Mizuho Financial Group | 225,586 Billion Yen | 1,985 | 216,224 Billion Yen | 1,902 |
| 14 | Sumitomo Mitsui Banking Corporation | 219,863 Billion Yen | 1,934 | 209,078 Billion Yen | 1,839 |
| 15 | Japan Post Bank | 210,910 Billion Yen | 1,856 | 201,907 Billion Yen | 1,776 |
| 16 | Banco Santander | 1,508 Billionn Euro | 1,749 | 1,416 Billion Euro | 1,642 |
| Source : Annual report, 2020 | |||||
| Origin Currency = Currency at the Annual Report | |||||
| Currency Rate : | |||||
| 1 Renminbi (RMB)= 0.15 US Dollar (USD) | |||||
| 1 Japanese Yen (JPY) = 0.0088 US dollar (USD) | |||||
| 1 Euro = 1.16 US Dollar (USD) | |||||
Brief Description of 15 Biggest Banks in the World
1. Industrial and Commercial Bank of China (ICBC)
Industrial and Commercial Bank of China Ltd is a China-based Bank founded in Beijing in 1948. This Bank is owned by the Chinese Central Government with 70.82% of voting rights. In 2020, this bank has gotten the biggest revenue and Net income of the other banks in the world. Along with the development of this bank, ICBC listed its share in the Stock exchange. On 27 October 2006, the Bank had listed on the Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited. Financially, based on the annual report of ICBC in 2020, the revenue of this bank reached 800 billion RMB or equivalent with 120 billion US dollars, and net income reach 317 billion RMB or equivalent with 47 billion US dollars.
2. China Construction Bank Corporation (CCB)
China Construction Bank Corporation (CCB) is another biggest bank in China and The World. Historically, it was founded in Beijing, China on 1 October 1954 and still has its main office in Beijing, China. Financially, in 2020, Based on a Published Annual report by the Company, the revenue of this bank reach 714 billion RMB or equivalent to 107 billion US dollars, and net income reach 273 billion RMB or equivalent to 41 billion US Dollars.
3. Agricultural Bank of China
Agricultural Bank of China (ABC), commonly known as AgBank is the next one from China. It was founded on July 10, 1951. Until now, this bank has had a main office in Beijing, China. Financially, based on the annual report of the Published company, the bank generated revenue until 659 billion RMB or equivalent with 98 billion US dollars, and net income reach 216 billion RMB or equivalent with 32 billion US Dollars.
4. Bank of China
Bank of China is the biggest and one of the oldest banks in China. Historically, it was founded in Beijing, China in 1912 by Chen Jintao. Financially, in 2020, this bank can generate revenue up to 567 billion RMB or equivalent with 85 billion US dollars and net income reach 205 billion RMB or equivalent with 30 billion US Dollars.
5. J.P. Morgan Chase
JP Morgan Chase & Co. is one of the biggest banks in the United States of America and the world. This is one of America’s Big Four banks, besides Bank of America, Wells Fargo, and Citigroup. Operationally, this bank has a main office in New York City, New York. Historically, the establishment of J.P. Morgan Chase is a merger from several financial institutions, namely Chase Manhattan Bank, J.P. Morgan & Co., Bank One, Bear Stearns, and Washington Mutual. In 2020, based annual report, the revenue of the company reaches 119 billion US dollars and net income reaches 29 billion US dollars.
6. Bank of America (BAC)
The Bank of America Corporation, simply known as Bank of America. in 1998, the bank of America is formed as the merger between BankAmerica and NationsBank. Operationally, this bank has 2 main offices Charlotte, North Carolina, U.S. (Corporate), and New York (Investment banking). Financially, based on the annual report in 2020, the revenue of the company reaches 85 billion US Dollar and net income reach 17 billion US Dollar.
7. Citigroup
Citigroup Inc. or Citi is one of the biggest big four banks in the United States of America. Historically, this bank was formed on October 8, 1998, as the merger of Citicorp and Travelers Group to create the world’s largest financial services. Financially, in 2020, the company’s revenue reach 74.3 billion US Dollars with net income reaching 11 billion US dollars.
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8. Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation Group (SMBC Group). Operationally, this company has a main office in Yurakucho, Chiyoda, Tokyo, Japan. Historically, the establishment of this bank is the merger of The Sumitomo Bank and Sakura Bank in April 2001. Financially, in 2020, based on the annual report, the Japanese-based Bank has revenue up to 2,768 billion Yen or equivalent with 24 billion US Dollar and net income reach 1,085 billion Yen or equivalent to 9.5 billion US Dollar.
9. BNP Paribas
BNP Paribas S.A. is one of the biggest banks in Europe from France. Historically, this bank was formed as the merger of Banque Nationale de Paris S.A. (BNP) and The Banque de Paris et des Pays-Bas S.A. (Bank of Paris and the Netherlands), or Paribas in May 2000. Until now, the company has a main office in Boulevard des Italiens, Paris, France. Financially, based on the annual report of the company, the company’s revenue reaches 44 billion Euro equivalent with 51 billion US Dollar with net income reaches 7 billion Euro or equivalent with 8.6 billion US Dollar.
10. Mitsubishi UFJ Financial Group (Mitsubishi)
Mitsubishi UFJ Financial Group is one of the biggest from Japan. Historically, this bank was formed by the merger of UFJ Holdings with the Mitsubishi Tokyo Financial Group in 2005. Operationally, this bank has a main office in Yurakucho, Chiyoda, Tokyo, Japan. Financially, the bank has generated revenue up to 3,997 billion Yen or equivalent with 35.1 billion US Dollar with net income reach 777.0 billion Yen or equivalent with 6.8 billion US Dollar.
11. HSBC Holdings PLC
This Bank is another biggest bank from the European continent. This bank has a main office in 8 Canada Square, London, England, UK. Based on the annual report in 2020, the company’s revenue reach 63 billion US Dollars with net income reaching 6 billion US dollars.
12. Credit Agricole
Credit Agricole is one of the oldest banks in France. Operationally, this bank has its main office in Montrouge, France, and was founded on 5 November 1894. Financially, in 2020, this bank has revenue up to 33 billion Euro or equivalent with 38 billion US Dollar and net income reach 5.1 billion Euro or equivalent with 6 billion US Dollar.
13. Mizuho Financial Group
Mizuho Financial Group, Inc. is another biggest bank in Japan. Historically, it was founded by the merger of Dai-Ichi Kangyo Bank, Fuji Bank, and the Industrial Bank of Japan in 2000. Operationally, this bank has a main office in Marunouchi, Chiyoda, Tokyo, Japan. Financially, in 2020, this bank has a positive performance of its business. Based on the annual report in 2020, the company generated revenue of 3,360 billion Yen or equivalent with 29.5 billion US dollars, and net income reach 477 billion yen or equivalent to 4.1 billion US dollars.
14. Wells Fargo
Wells Fargo & Company is an American-based Bank founded by Henry Wells and William Fargo. This bank has its main office in San Francisco, California, U.S., and New York. Financially, this bank generates revenue of 72 billion US Dollar and net income reach 3 billion US Dollar.
15. Japan Post Bank
Japan Post Bank Co., Ltd has its main office in Chiyoda, Tokyo, Japan. Financially, the company can generate revenue of 1,799 billion Yen or equivalent with 15.8 billion US Dollars and net income reaches 273 billion Yen or equivalent with 2.4 billion US Dollar.
16. Banco Santander
Banco Santander, S.A was founded on 15 May 1857. This Spanish Bank has a main office in Santander and Boadilla del Monte, Madrid. Financially, based on the annual report in 2020, the company generated revenue of 44 billion Euro or equivalent with 51 billion US Dollar but has net losses of (-7.7 Billion Euro) or equivalent with (-8.9 Billion US Dollar).
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Bibliography of 15 Biggest Banks in the World
Industrial and Commercial Bank of China. 2021. Annual Report 2020. Accessed via http://www.icbc-ltd.com/ICBCLtd/Investor%20Relations/Financial%20Information/Financial%20Reports/ in October 2021
China Construction Bank Corporation. 2021. Annual Report 2020. Accessed via http://www.ccb.com/en/investorv3/annualreports/annals.html?ptId=6&ctId=1 in October 2021
Agricultural Bank of China. 2021. Annual Report 2020. Accessed via http://www.abchina.com/en/investor-relations/performance-reports/annual-reports/ in October 2021
Bank of China. 2021. Annual Report 2020. Accessed via https://www.boc.cn/en/investor/ir3/202103/t20210330_19206075.html in October 2021
J.P. Morgan Chase. 2021. Annual Report 2020. Accessed via https://www.jpmorganchase.com/ir in October 2021
Bank of America (BAC). 2021. Annual Report 2020. Accessed via https://investor.bankofamerica.com/annual-reports-and-proxy-statements in October 2021
Citigroup. 2021. Annual Report 2020. Accessed via https://www.citigroup.com/citi/investor/annual-reports.html in October 2021
Sumitomo Mitsui Banking Corporation. 2021. Annual Report 2020. Accessed via https://www.smfg.co.jp/english/gr2020/ in October 2021
BNP Paribas. 2021. Annual Report 2020. Accessed via https://invest.bnpparibas/en/search/reports/documents/financial-reports in October 2021
Mitsubishi UFJ Financial Group (Mitsubishi). 2021. Annual Report 2020. Accessed via https://www.mufg.jp/english/ir/report/annual_report/backnumber/index.html in October 2021
HSBC Holdings PLC. 2021. Annual Report 2020. Accessed via https://www.hsbc.com/investors/results-and-announcements/annual-report in October 2021
Credit Agricole. 2021. Annual Report 2020. Accessed via https://www.ca-cib.com/pressroom/news/results-fourth-quarter-and-full-year-2020 in October 2021
Mizuho Financial Group. 2021. Annual Report 2020. Accessed via https://www.mizuhogroup.com/investors/financial-information/financial-statements in October 2021
Wells Fargo. 2021. Annual Report 2020. Accessed via https://www.wellsfargo.com/about/investor-relations/ in October 2021
Japan Post Bank. 2021. Annual Report 2020. Accessed via https://www.jp-bank.japanpost.jp/en/ir/financial/en_ir_fnc_annualreport2020.html in October 2021
Banco Santander. 2021. Annual Report 2020. Accessed via https://www.santander.com/en/shareholders-and-investors/financial-and-economic-information/annual-report in October 2021
