What Is The Largest Bank In The World? [Top 10 Largest Banks]

Updated On: 09/17/2023
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Have you ever wondered what the largest bank in the world might be? You might be inclined to guess it's an American institution, perhaps JP Morgan or Bank of America. However, correct identification of the global goliath of banking might surprise you.

In your quest for knowledge about all things finance, it's essential to understand how banking shapes the global economy.

With transactions reaching trillions and operations sprawling across continents, recognizing the influence of these massive entities puts into perspective just how monumental their role is within international markets.

A gigantic question such as "What is the largest bank in the world," may seem intimidating, but fear not! The answer lies in a careful analysis of credible financial rankings and data.

What Is The Largest Bank In The World?

The Industrial & Commercial Bank of China (ICBC) is currently the largest bank in the world in terms of revenue, net income, and market capitalization. As of recent data, ICBC has a substantial revenue of $208.1 billion, yielding a net income of $55.34 billion. Additionally, the bank boasts an impressive market capitalization of $173.9 billion.

Besides its global presence and impressive financial metrics, you might want more insight into what makes ICBC remarkable among its peers. Also, they support over 416 million retail customers and multiple corporate clients. Now, that’s indeed substantial!

Figures detailing their net worth make them top-notch players in finance circles; their broad-range operations bringing banking services to people across continents make them truly unique.

Top 10 Largest Banks in the World

Did you know that the largest banks in the world reach every corner of the globe? Yep, that's correct!

Top 10 Largest Banks in the World

These financial titans provide diverse banking services to customers worldwide, driving the economy and shaping our economic landscapes.

Using metrics like revenue, net income, and market cap, we can determine which banks make it to this prestigious list. Ready to embark on this banking journey?

Also Read: 8 Safest Banks In The U.S. 2024 [Safest Place For Your Money]

China Construction Bank Corp.

  • Revenue: $126.79B
  • Net Income: $48.49B
  • Market Cap: $148.5B

China Construction Bank Corporation, also known as CCB, is one of the "big four" banks in the People's Republic of China. It is ranked as the 2nd largest bank worldwide based on market capitalization.

CCB was founded in 1954 and is primarily a commercial bank. Its services extend to various financial offerings, including personal and corporate banking, treasury operations, asset management, wealth management, and a comprehensive suite of financial products and services.

As reported in their latest financial figures, China Construction Bank Corp. generated around $126.79 billion in revenue. This substantial revenue makes it one of the most profitable banks globally.

The net income of CCB is approximately $48.49 billion, as per the latest available data. This high net income figure signifies the hefty profit that the bank earns after all its costs and expenses have been deducted from its total revenue.

The current market capitalization for China Construction Bank Corp., which indicates its total market value, stands at around $148.5 billion. This figure can help investors understand the size and significance of CCB compared to other corporations globally.

JPMorgan Chase

  • Revenue: $123.42B
  • Net Income: $37.07B
  • Market Cap: $381.6B

JPMorgan Chase & Co. is one of the world's leading global financial services firms with operations worldwide. As per the latest data, the company boasts a market capitalization of $381.6 billion, indicating its significant value and position in the global market.

The firm generated a robust revenue amounting to $123.42 billion, showcasing its strong profitability and revenue-generating ability, which comes from a myriad of its offerings like asset management, retail banking, commercial banking, credit cards, and many more.

Moreover, JPMorgan Chase has a net income of $37.07 billion, reaffirming its sustained profitability amidst challenging market environments.

JPMorgan Chase is an eminent player in the financial sector due to its comprehensive financial services tailored to meet individual needs and corporate requirements globally.

Remember that figures can vary as they are affected by numerous factors, such as market conditions, regulatory changes, and economic shifts. Yet despite these uncertainties, JPMorgan Chase has maintained a robust fiscal presence on the global stage.

Also Read: The 15 Best Banks For Digital Nomads 2023 [Complete Guide]

Bank of America

  • Revenue: $92.48B
  • Net Income: $27.41B
  • Market Cap: $254.9B

Bank of America is one of the world's leading financial institutions, known for servicing approximately 67 million consumer and small business clients worldwide.

As of 2021, it generated a revenue of $92.48 billion and a net income worth $27.41 billion, indicating its strong financial performance.

Bank of America operates across various segments, including consumer banking, global wealth & investment management, and global banking.

Bank of America is headquartered in Charlotte, North Carolina, and serves roughly 3,900 retail financial centers throughout the United States. In addition to its domestic presence, the bank operates in more than 35 countries worldwide.

The firm's market capitalization as of recently is about $254.9 billion, placing it among the largest financial institutions globally by market value.

Bank of America is widely recognized for its commitment to delivering quality customer service and creating long-term economic value.

Agricultural Bank of China

  • Revenue: $202B
  • Net Income: $31.12B
  • Market Cap: $104.85B

The Agricultural Bank of China, founded in 1951, is one of the largest banks in the world by total assets. It is a state-owned commercial bank and part of China's 'Big Four' banks along with the Bank of China, Industrial and Commercial Bank of China, and China Construction Bank.

As of the fiscal year 2020, the Agricultural Bank of China's revenue reached an impressive $202 billion. In terms of net income for 2020, it reported earning $31.12 billion.

Additionally, per the latest data, the bank’s current market capitalization is around $104.85 billion. This metric is significant as it estimates how much it would cost to purchase all the company's stocks at the current market price.

The bank provides a comprehensive range of financial services. These include retail banking, which offers savings accounts and consumer loans; corporate banking, which assists businesses with large-scale transactions; and investment banking, which aids companies with mergers and acquisitions.

Despite being a prominent player in Chinese finance for over six decades, international expansion was not a primary focus until recent years.

They have numerous branches and subsidiaries spread across Hong Kong, London, Tokyo, and New York, aiming to be more globally competitive.

Also Read: 12 Best Nationwide Credit Unions Of March 2024


  • Mumbai, India
  • Market Cap: 149.43 billion
  • Net Income: 460 billion INR

HDFC Bank is one of the largest banking institutions in India. It is headquartered in Mumbai, India, and has a market capitalization of 149.43 billion dollars.

Established in 1994, HDFC Bank has grown immensely and now boasts an extensive network of over 7,860 branches and 18,353 ATMs nationwide.

The bank provides its customers with a wide range of financial products and services, spanning various sectors like retail banking, wholesale banking, treasury operations, and other banking services.

In terms of performance, HDFC Bank reported impressive figures with a net income of 460 billion INR. This shows the strong profitability of the bank and its ability to generate significant returns.

The bank's main strategy focuses on delivering high-quality products and services to its customers while maintaining operational efficiency.

With a strong presence in urban and rural areas, HDFC Bank continues to play a key role in driving financial inclusion in India.

For those looking to do business or establish personal banking relations in India, HDFC Bank's solid financial standing, robust infrastructure, and reputable customer service make it one excellent choice among Indian banks.

Bank of China

  • Revenue: $83.27B
  • Net Income: $22.64B
  • Market Cap: $125.71B

The Bank of China, abbreviated as BOC, is one of the four largest commercial banks in the country. It was founded on February 5, 1912, by the Republican government to replace the Imperial Bank of China. As of 2020, the Bank of China has earned revenue of $83.27 billion and a net income of $22.64 billion.

With a market capitalization of $125.71 billion, it holds a solid place among global banks' ranks. Notably ranked within Forbes Top 100 World's Largest Public Companies.

Its strong financial performance has enabled it to grow internally and externally through strategic investments.

The Bank offers a comprehensive array of financial services, including commercial banking (corporate banking, personal banking, and treasury operations), investment banking, and insurance services. These operations are spread across more than 62 countries worldwide.

The headquarters are in Beijing, but the branches are distributed globally, signifying its international reach and influence in global finance.

As one of China's most dominant fiscal entities, the Bank of China continues to grow while contributing significantly to China's economy and beyond.

Wells Fargo

  • Revenue: $74.98B
  • Net Income: $16.07B
  • Market Cap: $157.6B

Wells Fargo & Company is a multinational corporation specializing in financial services, headquartered in San Francisco, California. Its legacy spans over 160 years, and is respected globally as one of the largest banks by market capitalization.

According to recent data, Wells Fargo has reported a revenue estimate of approximately $74.98 billion. Their revenue stream comprises various sources such as investment banking, wealth and investment management, wholesale banking, consumer banking, and more.

The net income Wells Fargo reported is an estimated $16.07 billion. Net income is calculated as the company's total earnings (or profit), subtracting all expenses, taxes, and costs.

Wells Fargo's market capitalization is approximately $157.6 billion, representing the total dollar market value of all its outstanding shares of stock.

Wells Fargo offers services to customers stretching over three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management, thereby covering comprehensive financial services ranging from loans to money management tools and resources for individuals or businesses.

Also Read: Banks With Branches In All 50 States 2024 [List of All Banks]

Citigroup Inc.

  • Revenue: $74.31B
  • Net Income $15.51B
  • Market Cap: $86.4B

Citigroup Inc. is a leading multinational investment bank and financial services corporation headquartered in New York City.

Its primary services include banking, capital markets, advisory, lending, consumer banking and wealth management.

As per the displayed statistics, Citigroup recorded a revenue of $74.31 billion. The term 'revenue' describes the total earnings by the company from its primary business activities before any costs or expenses are deducted.

The net income amassed by the company stands at $15.51 billion. Net income indicates the company's total earnings or profit; income after all costs, expenses, taxes, and depreciation have been subtracted from the total revenue.

Citigroup's market cap (market capitalization) is valued at $86.4 billion. Market cap offers a glance at the company's worth on the stock market by multiplying its current share price by its total outstanding shares.

BNP Paribas

  • Revenue: $70.33B
  • Net Income: $11.17B
  • Market Cap: $67.7B

BNP Paribas is a leading international banking institution recognized worldwide. It's headquartered in Paris and is the second-largest bank in France.

As of the recent financial data, it generated a revenue of $70.33 billion. The company's net income totals $11.17 billion, showcasing its efficient management and strong profitability track.

BNP Paribas operates with a current market capitalization of about $67.7 billion, reflecting its substantial footprint in the financial market and strong investor confidence.

With its presence in 64 countries, BNP Paribas offers various financial services, including retail banking, corporate and institutional banking, and international financial services.

It has proven resilient and innovative, ensuring economic development and more responsible growth worldwide.

HSBC Holdings (HSBC)

  • Revenue: $56.28B
  • Net Income: $13.22B
  • Market Cap: $119.7B

HSBC Holdings, commonly known as HSBC, is a multinational investment bank and financial services holding company.

Established in 1865 to finance trade between Europe and Asia, it now serves over 39 million customers worldwide.

As of the recent financial data, HSBC Holdings boasts a substantial revenue of $56.28 billion. This amount is generated through various streams such as retail banking and wealth management, commercial banking, global banking and markets, and global private banking.

The company also shows a solid net income of $13.22 billion. Net income is a key profitability indicator that reflects the profit after all expenses have been deducted from total revenue.

Regarding the company's value on the stock market, HSBC Holdings has an impressive market capitalization standing at $119.7 billion.

Market Cap refers to the total dollar market value of all outstanding shares, it provides investors with an understanding of how much a company is worth on the stock market.

While these figures are robust and indicate stability for the bank's operations, potential investors should investigate other critical factors, such as the debt-to-equity ratio, future growth estimates, and other relevant indicators, before making investment decisions.

How Do Banks Make Money?

Banks make money through various methods. They primarily make money through lending activities, taking the deposits made by customers and loaning them to other individuals or businesses at higher interest rates.

Also Read: How Do Digital Banks Make Money? [ It's Not What You Think]

How Do Banks Make Money

This spread between interest earned on loans and interest paid on deposits is known as net interest income.

Service fees are another significant income source for banks. These include fees for account maintenance, overdrafts, ATM access, and more.

Also, banks' investment activities contribute to their earnings. They put funds into various securities, such as government bonds or equities. Any profits from these investments add to a bank's income.

Many banks also make a lot of money from additional services such as wealth management, brokerage operations, or insurance underwriting. Diversifying their income sources enables banks to remain profitable across different economic conditions.

FAQs about the largest banks in the world

Which bank holds the title of being the largest in the world?

The Industrial & Commercial Bank of China (ICBC) is currently recognized as the largest bank in the world.

Based on what criteria is the largest bank in the world determined?

The largest bank is typically evaluated based on revenue, net income, and market capitalization parameters.

Where is the headquarters of the world's largest bank?

ICBC, the current global banking leader, has headquarters in Beijing, China.

How many customers does ICBC serve?

The ICBC serves roughly 400 million retail customers and numerous corporate clients worldwide.

Does an American bank feature in the list of the top 10 largest banks worldwide?

Multiple American banks, including JPMorgan Chase and Bank of America, are on this exclusive list.


Isn't seeing how these financial giants shape the world economy while serving millions of customers worldwide fascinating?

Although ICBC currently sits on the throne as the largest bank, the financial landscape is dynamic and continually shifting. This opens up intriguing possibilities for future changes in this list of banking giants.

So, let's keep our eyes on these titans and see who paves the way in providing robust, reliable banking services across the globe.

Michael Restiano

I support product content strategy for Salt Money. Additionally, I’m helping develop content strategy and processes to deliver quality work for our readers.

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