15 largest banks in the world of 2021–According to the Annual Report data from each bank in 2021, there are 15 Largest banks in the world. Of course, they are the big bank in the world with billion US. Dollar of revenues and income annually. The assets of these bank spread over in many countries.
So far, in monetary system, banks are financial institutions which has significant role in maintaining the stability of the world economy. Functionally, this institution plays a role in absorbing excess funds from the community and give the funds to their users/ customers as capital loans for business activities and consumptive activities. So far, banks can be the bridge between the interests of people who have excess funds and people who need money. In addition, various banking products with various uniqueness are offered to consumers so that they have alternatives in managing finances.
Historically, since the time of Assyria and Babylonia era until now followed 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 of net income. From the financial report data / annual report in 2021, there are 15 Largest Banks in the World in 2021. This data came from the Annual Report / Annual Report of the Company in 2021.
The Rank of Bank is based on the financial positions and business performance. The rank of financial position can be observed from balance sheet of company. Meanwhile, the business performance of the company can be observed based on the income statement of the company.
The Rank 15 largest banks in the world based on Financial Position
| Rank | Name of Company | Assets | Assets | Liabilities | Liabilities |
|---|---|---|---|---|---|
| Origin Currency | US Dollar | Origin Currency | US Dollar | ||
| 1 | Industrial and Commercial Bank of China | 35,171 Billion RMB | 5,275 Billion US Dollar | 31,896 Billion RMB | 4,784 Billion US Dollar |
| 2 | China Construction Bank Corporation | 30,253 Billion RMB | 4,537 Billion US Dollar | 27,639 Billion RMB | 4,145 Billion US Dollar |
| 3 | Agricultural Bank of China | 29,069 Billion RMB | 4,360 Billion US Dollar | 26,647 Billion RMB | 3,997 Billion US Dollar |
| 4 | Bank of China | 26,722 Billion RMB | 4,008 Billion US Dollar | 24,371 Billion RMB | 3,655 Billion US Dollar |
| 5 | J.P. Morgan Chase | 3,743 Billion US Dollar | 3,743 Billion US Dollar | 3,449 Billion US Dolllar | 3,449 Billion US Dolllar |
| 6 | Bank of America (BAC) | 3,169 Billion US Dollar | 3,169 Billion US Dollar | 2,899 Billion US Dollar | 2,899 Billion US Dollar |
| 7 | HSBC Holdings PLC | 2,957 Billion US Dollar | 2,957 Billion US Dollar | 2,751 Billion US Dollar | 2,751 Billion US Dollar |
| 8 | Mitsubishi UFJ Financial Group (Mitsubishi) | 367,650 Billion Yen | 2,683 Billion US Dollar | 351,353 Billion Yen | 2,564 Billion US Dollar |
| 9 | BNP Paribas | 2,634 Billion Euro | 2,634 Billion US Dollar | 2,511 Billion Euro | 2,511 Billion US Dollar |
| 10 | Citigroup | 2,291 Billion US Dollar | 2,291 Billion US Dollar | 2,088 Billion US Dollar | 2,088 Billion US Dollar |
| 11 | Wells Fargo | 1,948 Billion US Dollar | 1,948 Billion US Dollar | 1,757 Billion US Dollar | 1,757 Billion US Dollar |
| 12 | Sumitomo Mitsui Banking Corporation | 257,704 Billion Yen | 1,881 Billion US Dollar | 245,507 Billion Yen | 1,792 Billion US Dollar |
| 13 | Mizuho Financial Group | 237,066 Billion Yen | 1,730 Billion US Dollar | 227,865 Billion Yen | 1,663 Billion US Dollar |
| 14 | Japan Post Bank | 223,870 Billion Yen | 1,634 Billion US Dollar | 212,475 Billion Yen | 1,551 Billion US Dollar |
| 15 | Banco Santander | 1,595 Billion Euro | 1,595 Billion US Dollar | 1,498 Billion Euro | 1,498 Billion US Dollar |
| Source : Annual report, 2021 | |||||
| Description : | |||||
| Origin Currency : Currency officially Used in Annual Report 2021 | |||||
| US Dollar = Currency from Origin Currency has been Converted into US Dollar | |||||
| Currency Rate : | |||||
| 1 Renminbi (RMB)= 0.15 US Dollar (USD) | |||||
| 1 Japanese Yen (JPY) = 0.0073 US dollar (USD) | |||||
| 1 Euro = 1 US Dollar (USD) | |||||
These data about the assets and liabilities above was obtained from the balance sheet of the annual report in 2021. The assets describe all physical and non-physical assets which the company has owned. Furthermore, Liabilities is about the obligation or financial debts that company must pay back in the futures. Its components include current liabilities and non-current liabilities. Company with bigger assets than liabilities commonly in good conditions to do business. They have huge of resource to do business without thinking about obligation to pay the debts.
The Rank 15 Largest Banks in The World based on Business Performance
| 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 | 860 Billion RMB | 129 Billion US Dollar | 350 Billion RMB | 52 Billion US Dollar |
| 2 | J.P. Morgan Chase | 121 Billion US Dollar | 121 Billion US Dollar | 48 Billion US Dollar | 48 Billion US Dollar |
| 3 | China Construction Bank Corporation | 764 Billion RMB | 114.6 Billion US Dollar | 303 Billion RMB | 45 Billion US Dollar |
| 4 | Agricultural Bank of China | 721 Billion RMB | 108 Billion US Dollar | 241 Billion RMB | 36 Billion US Dollar |
| 5 | Bank of China | 605 Billion RMB | 90 Billion US Dollar | 227 Billion RMB | 34 Billion US Dollar |
| 6 | Bank of America (BAC) | 89.1 Billion US Dollar | 89.1 Billion US Dollar | 31.9 Billion US dollar | 31.9 Billion US dollar |
| 7 | Citigroup | 71.8 Billion US Dollar | 71.8 Billion US Dollar | 21.9 Billion US Dollar | 21.9 Billion US Dollar |
| 8 | Wells Fargo | 78.4 Billion US Dollar | 78.4 Billion US Dollar | 21.5 Billion US Dollar | 21.5 Billion US Dollar |
| 9 | HSBC Holdings PLC | 63 Billion US Dollar | 63 Billion US Dollar | 14 Billion US Dollar | 14 Billion US Dollar |
| 10 | BNP Paribas | 43.7 Billion Euro | 43.7 Billion US Dollar | 9.8 Billion Euro | 9.8 Billion US Dollar |
| 11 | Banco Santander | 46.4 Billion Euro | 46.4 Billion US Dollar | 9.6 Billion Euro | 9.6 Billion US Dollar |
| 12 | Sumitomo Mitsui Banking Corporation | 4,111 Billion Yen | 30 Billion US Dollar | 715 Billion Yen | 5.2 Billion US Dollar |
| 13 | Mizuho Financial Group | 3,963 Billion Yen | 28 Billion US Dollar | 543 Billion Yen | 3.9 Billion US Dollar |
| 14 | Mitsubishi UFJ Financial Group (Mitsubishi) | 3,778 Billion Yen | 27.5 Billion US Dollar | 305 Billion Yen | 2.2 Billion US Dollar |
| 15 | Japan Post Bank | 1,946 Billion Yen | 14.2 Billion US Dollar | 279 Billion Yen | 2 Billion US Dollar |
| Source : Annual report, 2021 | |||||
| Description : | |||||
| Origin Currency : Currency officially Used in Annual Report 2021 | |||||
| US Dollar = Currency from Origin Currency has been Converted into US Dollar | |||||
| Currency Rate : | |||||
| 1 Renminbi (RMB)= 0.15 US Dollar (USD) | |||||
| 1 Japanese Yen (JPY) = 0.0073 US dollar (USD) | |||||
| 1 Euro = 1 US Dollar (USD) | |||||
The data above about revenue and income came from Income statement of company. The revenue and income/loss that company was earned in specific time reflects the efficiency and effective of company in doing the business. The consistent of company in reaping the profit can be the indicators that companies has stability in doing business.
Brief Description of 15 largest banks in the world of 2021
1.Industrial and Commercial Bank of China
Industrial and Commercial Bank of China Ltd is China-based Bank found in Beijing in 1948. This Bank owned by Chinese Central Government with 70.82% of stake ownership. In 2021, this bank has gotten the biggest revenue and Net income than the other banks in the world. On 27 October 2006, the Bank was successfully listed on Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited. Financially, based on the annual report of ICBC in 2021, the bank has assets around 35,171 billion RMB/ 5,275 billion US Dollar and liabilities around 31,896 billion RMB/ 4,784 billion US Dollar. Based on the business performance in 2021, the company gained the revenue 860 billion RMB/ 129 billion US Dollar and successfully reaped net Income 350 billion RMB/ 52 billion US Dollar.
2.J.P. Morgan Chase
JPMorgan Chase & Co. become one of the biggest banks in 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 primary office in New York City, New York. Historically, the establishment of J.P. Morgan Chase is the merger from several financial institution, namely Chase Manhattan Bank, J.P. Morgan & Co., Bank One, Bear Stearns and Washington Mutual. In 2021, based annual report, the company has assets around 3,743 billion US Dollar and liabilities around 3,449 billion US Dollar. Based on the business performance in 2021, this bank gained revenue of 121 billion US Dollar and Net Income around 48 billion US Dollar.
3.China Construction Bank Corporation
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 primary office in Beijing, China. Financially, in 2021, Based on Published Annual report by the Company, the company has assets around 30,253 billion RMB/ 4,537 billion US Dollar and liabilities around 27,639 billion RMB/ 4,145 billion US Dollar. Based on the business performance in 2021, the company gained the revenue around 764 billion RMB/ 114.6 billion US Dollar and reaped the net Income 303 billion RMB/ 45 billion US Dollar.
4.Agricultural Bank of China
Agricultural Bank of China (ABC), commonly known as AgBank, is one of the biggest banks from China. It was founded on July 10, 1951. Until now, this bank has primary office in Beijing, China. Financially, based on the annual report of Published company in 2021, the company has assets around 29,069 billion RMB/ 4,360 billion US Dollar with liabilities around liabilities 26,647 billion RMB/ 3,997 billion US Dollar. Based on the business performance in 2021, the company gained the revenue around 721 billion RMB/ 108 billion US Dollar and net income around 241 billion RMB/ 36 billion US Dollar.
5.Bank of China
Bank of China is one of the oldest and biggest banks in China. Historically, it was founded in Beijing, China in 1912 by Chen Jintao. Financially, the company has assets 26,722 billion RMB/ 4,008 billion US Dollar and liabilities around 24,371 billion RMB/ 3,655 billion US Dollar. Based on the business performance in 2021, the company gained revenue 605 billion RMB/ 90 billion US Dollar and net income around 227 billion RMB/ 34 billion US Dollar.
6.Bank of America
The Bank of America Corporation, simply known as Bank of America. in 1998, bank of America is formed as the merger between Bank America and Nations Bank. Operationally, this bank has two primary office Charlotte, North Carolina, U.S. (Corporate) and New York (Investment banking). Based on the financial position on Balance sheet in 2021, the company has assets around 3,169 billion US Dollar and liabilities around 2,899 billion US Dollar. Meanwhile, in 2021, the bank gained positive performance with gaining revenue 89.1 billion US Dollar and net Income around 31.9 billion US dollar.
7.Citigroup
Citigroup Inc. or Citi is one of biggest big four bank 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. Based on the financial position on balance sheet in 2021, this bank has assets around 2,291 billion US Dollar and liabilities around 2,088 billion US Dollar. Based on the business performance in 2021, the company gained revenue around 71.8 billion US Dollar and Net Income around 21.9 billion US Dollar.
8.Wells Fargo
Wells Fargo & Company is American-based Bank founded Henry Wells and William Fargo. This bank has central office in San Francisco, California, U.S., and New York. Financially, based on annual report 2021, the company has assets around 1,948 billion US Dollar and liabilities 1,757 billion US Dollar. Based on the business performance in 2021, the company has revenue around 78.4 billion US Dollar and net Income around 21.5 billion US Dollar.
9.HSBC Holdings PLC
This Bank is another biggest bank from Europe continent. This bank has primary office in Canada Square, London, England, UK. This company has assets around 2,957 billion US Dollar and liabilities around 2,751 billion US Dollar. Based on the business performance in 2021, the company gained the revenue around 63 billion US Dollar and net income around 14 billion US Dollar.
10.BNP Paribas
BNP Paribas S.A. is one of the biggest banks in the 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 on May 2000. Until now, the company has central office in Boulevard des Italiens, Paris, France. Financially, based on the financial position on 2021, the company has assets 2,634 billion Euro / 2,634 billion US Dollar and liabilities around 2,511 billion Euro / 2,511 billion US Dollar. In terms of business performance in 2021, the company gained the revenue around 43.7 billion Euro / 43.7 billion US Dollar and net income around Net Income 9.8 billion Euro / 9.8 billion US Dollar.
11.Banco Santander
Banco Santander, S.A was founded on 15 May 1857. This Spanish Bank has primary office in Santander and Boadilla del Monte, Madrid. Financially, in 2021, the bank has assets around 1,595 billion Euro / 1,595 billion US Dollar and liabilities around 1,498 billion Euro / 1,498 billion US Dollar. Based on the business performance in 2021, the company gained the revenue around 46.4 billion Euro /46.4 billion US Dollar and Net Income around 9.6 billion Euro / 9.6 billion US Dollar.
12.Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation Group (SMBC Group). Operationally, this company has central office in in Yurakucho, Chiyoda, Tokyo, Japan. Historically, the establishment of the bank because of was the merger between The Sumitomo Bank and Sakura Bank in April 2001. Based on the financial position in 2021, the company has assets around 257,704 billion Yen / 1,881 billion US Dollar and liabilities around Liabilities 245,507 billion Yen / 1,792 billion US Dollar. Based on the business performance in 2021, the company gained the revenue around 4,111 billion Yen / 30 billion US Dollar and net income around 715 billion Yen / 5.2 billion US Dollar.
13.Mizuho Financial Group
Mizuho Financial Group, Inc. in another biggest bank from 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 primary office in Marunouchi, Chiyoda, Tokyo, Japan. Financially, in 2021, the company has assets around 237,066 billion Yen / 1,730 billion US Dollar and Liabilities around 227,865 billion Yen / 1,663 billion US Dollar. Based on the business performance in 2021, the company successfully gained the revenue 3,963 billion Yen / 28 billion US Dollar and Net Income around 543 billion Yen / 3.9 billion US Dollar.
14.Mitsubishi UFJ Financial Group
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 central office in Yurakucho, Chiyoda, Tokyo, Japan. Based on financial position in 2021, the company has assets around 367,650 billion Yen / 2,683 billion US Dollar and liabilities around 351,353 billion Yen / 2,564 billion US Dollar. Based on the business performance in 2021, the company generated revenue 3,778 billion Yen / 27.5 billion US Dollar and net income 305 billion Yen / 2.2 billion US Dollar.
15.Japan Post Bank
Japan Post Bank Co., Ltd has primary office in Chiyoda, Tokyo, Japan. Financially, the company has assets around 223,870 billion Yen / 1,634 billion US Dollar and liabilities around 212,475 billion Yen / 1,551 billion US Dollar. Based on the business performance in 2021, the company gained revenue around 1,946 billion Yen / 14.2 billion US Dollar or net income around 279 billion Yen / 2 billion US Dollar.
The Summary of World’s Largest Bank in 2021
Bibliography of 15 World’s Biggest Bank in 2021
Industrial and Commercial Bank of China. 2022. Annual Report 2021. Accessed via http://www.icbc-ltd.com/ICBCLtd/Investor%20Relations/Financial%20Information/Financial%20Reports/ on August 28th, 2022
China Construction Bank Corporation. 2022. Annual Report 2021. Accessed via http://www.ccb.com/en/investorv3/annualreports/annals.html?ptId=6&ctId=1 on August 28th, 2022
Agricultural Bank of China. 2022. Annual Report 2021. Accessed via https://www.abchina.com/en/investor-relations/performance-reports/annual-reports/ on August 28th, 2022
Bank of China. 2022. Annual Report 2021. Accessed via https://www.bankofchina.co.id/en-id/top/about-us/financial-report/annual-report.html on August 28th, 2022
J.P. Morgan Chase. 2022. Annual Report 2021. Accessed via on August 28th, 2022
Bank of America (BAC). 2022. Annual Report 2021. Accessed via https://investor.bankofamerica.com/annual-reports-and-proxy-statements on August 28th, 2022
HSBC Holdings PLC. 2022. Annual Report 2021. Accessed via https://www.hsbc.com/investors/results-and-announcements/annual-report on August 28th, 2022
Mitsubishi UFJ Financial Group (Mitsubishi). 2022. Annual Report 2021. Accessed via https://www.mufg.jp/english/ir/report/annual_report/index.html on August 28th, 2022
BNP Paribas.2022. Annual Report 2021. Accessed via https://invest.bnpparibas/en/search/reports/documents/financial-reports?s%5Bsubthemes%5D%5B%5D=18 on August 28th, 2022
Citigroup.2022. Annual Report 2021. Accessed via https://www.citigroup.com/citi/investor/annual-reports.html on August 28th, 2022
Wells Fargo.2022. Annual Report 2021. Accessed via https://www.wellsfargo.com/about/investor-relations/annual-reports/ on August 28th, 2022
Sumitomo Mitsui Banking Corporation.2022. Annual Report 2021. Accessed via https://www.sumitomocorp.com/en/jp/ir/financial/investors-guide/2021 on August 28th, 2022
Mizuho Financial Group.2022. Annual Report 2021. Accessed via https://www.mizuhogroup.com/investors/financial-information/annual on August 28th, 2022
Japan Post Bank.2022. Annual Report 2021. Accessed via https://www.jp-bank.japanpost.jp/en/ir/financial/en_ir_fnc_annualreport.html on August 28th, 2022
Banco Santander.2022. Annual Report 2021. Accessed via https://www.santander.com/en/shareholders-and-investors/financial-and-economic-information/annual-report on August 28th, 2022.
