LONDON – Every year S&P Global Intelligence releases its annual ranking of the world’s biggest banks by assets, and in 2017, for another year, Chinese banks dominate the top of the list.
In total, S&P Global included 28 banks across the world with over $US1 trillion in assets across Asia, North America, and Europe.
“Asian banks continue to dominate the S&P Global Market Intelligence global bank rankings with Chinese institutions claiming the top four spots,” JP O’Sullivan, managing director of financial institutions at S&P Global.
Banks with big retail operations dominate the list, meaning investment banking giants including Goldman Sachs and Morgan Stanley, and UBS miss out on the $US1 trillion mark, ranking 35th, 34th, and 38th respectively.
After a tough year in 2016, European banks bounced back on S&P’s 2017 list, thanks largely to a rising euro and a strong economic outlook. Three European banks cracked the top 10 this year, up from two last year.
Overall, 11 European banks, 11 from Asia, and six from North America held more than $US1 trillion in assets. Check out the world’s biggest banks below.
28. UniCredit, Italy — $US1.004 trillion
27. The Norinchukin Bank, Japan — $US1.006 trillion
26. ING Group, The Netherlands — $US1.02 trillion
25. Toronto-Dominion Bank, Canada — $US1.03 trillion
24. Royal Bank of Canada, Canada — $US1.04 trillion
23. Lloyds Banking Group, UK — $US1.1 trillion
22. Postal Savings Bank of China, China — $US1.385 trillion
21. Bank of Communications, China — $US1.39 trillion
20. Groupe BPCE, France — $US1.51 trillion
19. Societe Generale, France — $US1.5311 trillion
18. Barclays, UK — $US1.5317 trillion
17. Mizuho Financial Group, Japan — $US1.72 trillion
16. Banco Santander, Spain — $US1.74 trillion
15. Deutsche Bank, Germany — $US1.77 trillion
14. Sumitomo Mitsui Financial Group, Japan — $US1.78 trillion
13. Citigroup, USA — $US1.84 trillion
12. Japan Post Bank, Japan — $US1.87 trillion
11. Wells Fargo, USA — $US1.95 trillion
10. Credit Agricole, France — $US2.12 trillion
9. Bank of America, USA — $US2.28 trillion
8. BNP Paribas, France — $US2.36 trillion
7. HSBC, UK — $US2.52 trillion
6. JPMorgan Chase, USA — $US2.53 trillion
5. Mitsubishi UFJ Financial, Japan — $US2.79 trillion
4. Bank of China, China — $US2.99 trillion
3. Agricultural Bank of China, China — $US3.24 trillion
2. China Construction Bank, China — $US3.40 trillion
1. Industrial & Commercial Bank of China, China — $US4.00 trillion
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