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World's 10 largest banks, China leads

Last updated on: August 14, 2013 16:17 IST

World's 10 largest banks, China leads

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Chinese banks dominate the world’s largest banks list. China now has 96 banks in ‘The Banker’s Top 1000 World Banks list’ and holds four places in the Top 10.

For the first time ever, a Chinese bank has topped the world’s top banks’ ranking as well.

This year’s ranking sees the rise of China and fall of the eurozone in the banking sector.

The total profits of the Top 1000 banks are now back close to pre-crisis levels overall but their distribution is very uneven. 

Before the crisis, European banks accounted for 46 per cent of global profits and 58 per cent of total assets in 2006. Now they have 43 per cent of assets and a meagre 1.58 per cent of profits, says The Bankers Magazine.

Take a look at the world’s top 10 banks…

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Photographs: Reuters

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World's 10 largest banks, China leads

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Industrial and Commercial Bank of China (ICBC)

Rank:
1

Tier 1 Capital: $160.64 billion

Total Assets: $2.78 trillion

Industrial and Commercial Bank of China (ICBC) has moved from third to first place on the back of a 15 per cent increase in capital.

Founded in January 1984, ICBC is the largest bank in the world by profit and market capitalisation.

It is ranked number 1 on Forbes Global 2000 list of world’s biggest public companies.

Brian Caplen, editor of The Banker, says: “For several years now European and American banks have been stagnant and shrinking while Chinese banks have been expanding in line with the growth in the Chinese economy. On most measures they now score as well or better than Western banks but their big test will be how they cope as China’s growth slows over the next few years.”

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Image: A man cycles a bike carrying his daughter past a branch of Industrial and Commercial Bank of China Ltd (ICBC) in Beijing.
Photographs: Jason Lee/Reuters

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JP Morgan Chase & Co

Rank:
2

Tier 1 Capital: $160 billion

Total assets: $ 2.509 trillion (2012)

JP Morgan Chase & Co is the largest bank in the United States by assets.

It was founded in 2000 when Chase Manhattan Corporation merged with J.P. Morgan & Co.

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Image: A sign stands in front of the JPMorgan Chase & Co bank headquarters building in New York.
Photographs: Lucas Jackson/Reuters

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Bank of America

Rank:
3

Tier 1 Capital: $155.46 billion

Total assets: $ 2.209 trillion (2012)

Bank of America is the second largest bank holding company in the United States by assets.

In 2010, Bank of America as ranked as the third biggest company in the world by Forbes.

With the acquisition of Merrill Lynch in 2008, Bank of America became the world's largest wealth management corporation.

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Image: Tourists walk past a Bank of America banking center in Times Square in New York.
Photographs: Brendan McDermid/Reuters

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HSBC Holdings

Rank: 4

Tier 1 Capital: $151.04 billion

Total assets:  $2.693 trillion 

One of the world's largest banks, HSBC founded in 1865, is ranked as the world's largest bank in terms of assets and sixth-largest public company, according to Forbes magazine.

The UK’s only bank in the top 10, is fourth-placed HSBC, which gains significant earnings from its Asian operations.

Though European banks continue to perform badly, one of the best European performers is Turkey where the banks grew profits by 37 per cent.

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Image: People walk past a branch office of HSBC in Seoul.
Photographs: Lee Jae-Won/Reuters

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World's 10 largest banks, China leads

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China Construction Bank Corporation (CCBC)

Rank:
5

Tier 1 Capital: $137.60 billion

Total assets: 12.281 trillion yuan (2011)

Asia’s banks have moved in the right direction increasing their assets from 22 per cent of the total to 35 per cent and their profits from 19 to 56 per cent.

Founded on 1 October 1954 as People's Construction Bank of China, CCBC is one of the 'big four' banks in China.

With 13,629 domestic branches, CCBC is also one of the largest companies in the world.

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Image: A woman walks in front of the China Construction Bank headquarters building in Beijing.
Photographs: Jason Lee/Reuters

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Citigroup

Rank: 6

Tier 1 Capital: $136.53 billion

Total Assets: $1.865 trillion (2012)

Citigroup has the world's largest financial services network across 140 countries.

Citigroup was formed from one of the world's largest mergers - Citicorp and financial conglomerate Travelers Group in October 1998.

It is currently the third largest bank holding company in the United States in terms of assets.

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Image: Pedestrians walk past a Citibank branch in Washington.
Photographs: Jim Young/Reuters

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Mitsubishi UFJ Financial Group

Rank:
7

Tier 1 Capital: $129.57 billion

Total assets: $2.5 trillion

Mitsubishi UFJ Financial Group is Japan's largest financial group and the world's second largest bank holding company holding.

The company came into being on October 1, 2005 with the merger of Tokyo-based Mitsubishi Tokyo Financial Group (MTFG), and Osaka-based UFJ Holdings.

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Image: A baby on a stroller passes a branch of Mitsubishi UFJ Financial Group (MUFG) in Tokyo.
Photographs: Yuriko Nakao/Reuters

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Wells Fargo & Co

Rank: 8

Tier 1 Capital: $126.60 billion

Total assets: $1.422 trillion (2012)

Wells Fargo is the fourth largest bank in the US by assets and the largest bank by market capitalisation.

Wells Fargo was formed as a merger between San Francisco-based Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998.

In 2008, the company acquired Wachovia.

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Image: Wells Fargo bank is pictured in downtown Los Angeles, California
Photographs: Fred Prouser/Reuters

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Bank of China

Rank: 9

Tier 1 Capital: $121.50 billion

Total assets: 11.829 trillion yuan (2011)

Bank of China is one of the big four state-owned commercial banks.

The oldest bank in China, it was founded in 1912 to replace the Government Bank of Imperial China.

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Image: A woman leaves a branch of Bank of China in Beijing.
Photographs: Jason Lee/Reuters

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Agricultural Bank of China

Rank:
10

Tier 1 Capital: $111.49 billion

Total assets: 11.677 trillion yuan (2011)

Agricultural Bank of China is one of the ‘Big Four’ banks in China. Founded in 1951, it is China's third largest lender by assets. 

It ranks as the 25th largest public company in the world.


Image: A woman leaves a branch of Bank of China in Beijing.
Photographs: Jason Lee/Reuters

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