The World’s Top 50 Largest Banks By Consolidated Assets

Banks are often among the biggest companies in the world.

In this graphic, Visual Capitalist’s Marcus Lu lists the top 50 banks in the world by consolidated assets, based on a 2023 report from S&P Global Market Intelligence. The data represents each bank’s total assets for the most recent period available.

Chinese Banks Keep on Growing

According to S&P, the four largest Chinese banks grew their assets by 4.1% in 2022, reaching a combined total of $19.8 trillion.

In fact, Chinese banks already account for over a third of the assets held by the largest banks on the planet. Four of the 15 biggest companies in China are banks.

Rank
Bank
Headquarters
Total Assets
1
Industrial and Commercial Bank of China
🇨🇳 China
$5.7T
2
China Construction Bank Corp
🇨🇳 China
$5.0T
3
Agricultural Bank of China
🇨🇳 China
$4.9T
4
Bank of China
🇨🇳 China
$4.2T
5
JPMorgan Chase & Co.
🇺🇸 US
$3.7T
6
Bank of America
🇺🇸 US
$3.1T
7
Mitsubishi UFJ Financial Group
🇯🇵 Japan
$3.0T
8
HSBC Holdings
🇬🇧 UK
$2.9T
9
BNP Paribas
🇫🇷 France
$2.9T
10
Crédit Agricole Group
🇫🇷 France
$2.5T
11
Citigroup
🇺🇸 US
$2.4T
12
Postal Savings Bank of China
🇨🇳 China
$2.0T
13
Sumitomo Mitsui Financial Group
🇯🇵 Japan
$2.0T
14
Mizuho Financial Group
🇯🇵 Japan
$1.9T
15
Bank of Communications
🇨🇳 China
$1.9T
16
Wells Fargo & Co.
🇺🇸 US
$1.9T
17
Banco Santander
🇪🇸 Spain
$1.9T
18
Barclays PLC
🇬🇧 UK
$1.8T
19
JAPAN POST BANK
🇯🇵 Japan
$1.7T
20
UBS Group
🇨🇭 Switzerland
$1.7T
21
Groupe BPCE
🇫🇷 France
$1.6T
22
Société Générale
🇫🇷 France
$1.6T
23
Royal Bank of Canada
🇨🇦 Canada
$1.5T
24
The Toronto-Dominion Bank
🇨🇦 Canada
$1.5T
25
China Merchants Bank
🇨🇳 China
$1.5T
26
Goldman Sachs Group
🇺🇸 US
$1.4T
27
Deutsche Bank
🇩🇪 Germany
$1.4T
28
Industrial Bank
🇨🇳 China
$1.3T
29
China CITIC Bank International
🇨🇳 China
$1.2T
30
Shanghai Pudong Development Bank
🇨🇳 China
$1.2T
31
Morgan Stanley
🇺🇸 US
$1.2T
32
Crédit Mutuel
🇫🇷 France
$1.2T
33
Lloyds Banking Group
🇬🇧 UK
$1.1T
34
China Minsheng Banking
🇨🇳 China
$1.1T
35
Intesa Sanpaolo
🇮🇹 Italy
$1.0T
36
ING Groep
🇳🇱 Netherlands
$1.0T
37
The Bank of Nova Scotia
🇨🇦 Canada
$1.0T
38
UniCredit
🇮🇹 Italy
$917B
39
China Everbright Bank
🇨🇳 China
$913B
40
NatWest Group
🇬🇧 UK
$868B
41
Bank of Montreal
🇨🇦 Canada
$859B
42
Commonwealth Bank of Australia
🇦🇺 Australia
$837B
43
Standard Chartered
🇬🇧 UK
$820B
44
La Banque Postale
🇫🇷 France
$797B
45
Ping An Bank
🇨🇳 China
$772B
46
Banco Bilbao Vizcaya Argentaria
🇪🇸 Spain
$762B
47
The Norinchukin Bank
🇯🇵 Japan
$753B
48
State Bank of India
🇮🇳 India
$695B
49
Canadian Imperial Bank of Commerce
🇨🇦 Canada
$691B
50
National Australia Bank
🇦🇺 Australia
$680B

The Chinese financial market is followed by the American market on our list, with six U.S. banks combining for $13.7 trillion in assets.

The top 10 on the list include four Chinese banks, two American institutions, two French, one Japanese, and one British.

The biggest climber on our rank was Swiss UBS Group AG. The bank surged to 20th place from 34th in 2021. Its $1.6 trillion asset size has been adjusted to incorporate troubled Credit Suisse Group AG, which UBS agreed to take over in an emergency deal orchestrated by the Swiss authorities in March 2023.

Assets held by the 100 largest banks totaled $111.97 trillion in 2022, down 1.5% from $113.67 trillion a year earlier. Some of the reasons include high inflation, interest rate hikes, and the Russia-Ukraine war, which dampened global economic growth and investor sentiment.