Banks are the backbone for economic development and currency flow in a country. For running financial procedures correctly, more and more banks are being incorporated around the world. With the increasing ratio in banking institutions in world, now people can manage their financial matters with convenience and ease. Some banks operate within a country while others have large network across the whole world. Therefore, banks’ sizes vary according to their market capital. Want to know more about what are largest banks in the world? Explore the list below:

10. The Commonwealth Bank of Australia (Commbank): World’s tenth largest bank is called Commonwealth Bank, an Australian financial institute established in 1991, having its headquarters in Sydney Australia and businesses in major countries of the world. Commbank has a total market capital is $82.62 billion USD. The businesses network of the bank has been spread across China, UK, USA, Asia, and Fiji, New Zealand.
9. The Citigroup (Citi): At ninth place in world largest banks is Citigroup also named as Citi, a US financial services provider came on stage with world’s largest merger in October 1998. The company’s headquarters are situated in Manhattan, New York however their bank networks have been spread in 140 countries worldwide. With market capital of $86.67 billion USD, Citi is at number nine.
8. Itaú Unibanco: Itaú Unibanco, a Brazilian public banking company takes eighth position in largest banks of world. The bank was established as result of merger of Unibanco and Banco Itaú in the year 2008. Itaú Unibanco headquarters are located in São Paulo Brazil and its network has been spanned across many nations including United States, UAE, UK, Asia and Europe. The total market capital is $88.18 billion USD.
7. Bank of China (BOC): The Bank of China takes the seventh rank as largest bank, and also abbreviated as “BOC”. It was established in 1942 and its headquarters are based in Beijing, China. Network of operations includes UK, USA, Canada, Australia, Asia, UAE and Europe. Its rank among largest companies in world is 21st and market capitalization is $128.80 billion USD.
6. JP Morgan Chain: Another American banking chain comes at sixth place. By assets, the bank is top largest locally. The company was established in year 2000 as a merger of two companies. Its headquarters are in Manhattan, New York while its serving goes to many destinations across the world. The market capital value is $140 billion USD.
5. Agricultural Bank of China (ABC): At number fifth, it is Agricultural Bank of China, also known as ABC and has a customer base of 320 million. The company came into being in 1951 and has its headquarters in Beijing. The network goes across nations like Hong Kong, Sydney, Singapore, London, Tokyo and Frankfurt. The market capital is $141.73 billion USD.
4. The HSBC: The UK bank takes the fourth place among largest banks in the world. British financial service provider is known as HSBC Holdings plc and established in 1991 in UK. The headquarters are located in London, UK while total number of operational offices is 7200 across 85 countries worldwide. HSBC has market capital of $150.90 billion USD.
3. Wells Fargo: Wells Fargo & Company holds the top third position another American chain offering different financial services globally. The bank’s headquarters are located in San Francisco, California USA. According to 2012, the company has 270,000 staff members while customer base is 70 million worldwide. The market capital is $160.72 billion USD.
2. China Construction Bank (CCB): The world’s second largest bank is China Construction Bank, situated in Beijing China and owned by republic of china. The bank was established in 1954 and has 13,629 local branches network. International outlets span across countries like South Africa, USA, UK and Australia. The total market capital is $195.85 billion USD.
1. Industrial and Commercial Bank of China (ICBC): ICBC is declared as world’s largest bank with a market capital of $240.95 billion USD. The bank was established in start of year 1984 and its headquarters are located in Beijing. It has 18,000 branches network globally including 106 international branches. Members of its staff reached to 394,500 in year 2011.

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December 22, 2012 | Mohsin Ali | No Comments | 957 views