Ranked: Biggest banks in the world in 2023
Industrial & Commercial Bank of China (ICBC) tops the list of the world’s biggest banks in 2023 with a total of US$5.74 trillion in assets. The 10 biggest banks hold a combined worth of around $38 trillion, and four out of the top five are Chinese banks. Out of the top 100 banks, Chinese financial institutions are the most prominent with 20 of them listed, followed by 11 US banks and 8 Japanese banks. In 2023, the European banks saw a decline in their worldwide asset sizes, while the Chinese ones sustained their rank as the largest banking organizations globally.
In this report will take a close look at the top 100 banks worldwide in 2023. Through studying the data of the world’s largest banks, we can gain insight into the current state of the financial system and the influence it has on the world. The following table contains the 100 biggest banks in the world, ordered by the size of their total assets (in US$B).
Biggest banks in the world in 2023
| Rank | Bank | Country | Total assets (US$B) |
|---|---|---|---|
| 1 | Industrial and Commercial Bank of China Ltd. (1398-SEHK) | China | 5,742.86 |
| 2 | China Construction Bank Corp. (939-SEHK) | China | 5,016.81 |
| 3 | Agricultural Bank of China Ltd. (1288-SEHK) | China | 4,919.03 |
| 4 | Bank of China Ltd. (3988-SEHK) | China | 4,192.12 |
| 5 | JPMorgan Chase & Co. (JPM-NYSE) | U.S. | 3,665.74 |
| 6 | Bank of America Corp. (BAC-NYSE) | U.S. | 3,051.38 |
| 7 | Mitsubishi UFJ Financial Group Inc. (8306-TSE) | Japan | 2,967.91 |
| 8 | HSBC Holdings PLC (HSBA-LSE) | U.K. | 2,864.59 |
| 9 | BNP Paribas SA (BNP-ENXTPA) | France | 2,849.61 |
| 10 | Crédit Agricole Group | France | 2,542.61 |
| 11 | Citigroup Inc. (C-NYSE) | U.S. | 2,416.68 |
| 12 | Postal Savings Bank of China Co. Ltd. (1658-SEHK) | China | 2,039.56 |
| 13 | Sumitomo Mitsui Financial Group Inc. (8316-TSE) | Japan | 2,006.75 |
| 14 | Mizuho Financial Group Inc. (8411-TSE) | Japan | 1,909.35 |
| 15 | Bank of Communications Co. Ltd. (3328-SEHK) | China | 1,883.72 |
| 16 | Wells Fargo & Co. (WFC-NYSE) | U.S. | 1,881.02 |
| 17 | Banco Santander SA (SAN-BME) | Spain | 1,853.86 |
| 18 | Barclays PLC (BARC-LSE) | U.K. | 1,823.84 |
| 19 | JAPAN POST BANK Co. Ltd. (7182-TSE) | Japan | 1,719.92 |
| 20 | UBS Group AG (UBSG-SWX) | Switzerland | 1,679.36 |
| 21 | Groupe BPCE | France | 1,636.35 |
| 22 | Société Générale SA (GLE-ENXTPA) | France | 1,588.99 |
| 23 | Royal Bank of Canada (RY-TSX)* | Canada | 1,544.17 |
| 24 | The Toronto-Dominion Bank (TD-TSX)* | Canada | 1,524.83 |
| 25 | China Merchants Bank Co. Ltd. (600036-SHSE) | China | 1,470.00 |
| 26 | Goldman Sachs Group Inc. (GS-NYSE) | U.S. | 1,441.80 |
| 27 | Deutsche Bank AG (DBK-XTRA) | Germany | 1,428.65 |
| 28 | Industrial Bank Co. Ltd. (601166-SHSE) | China | 1,343.54 |
| 29 | China Citic Bank Corp. Ltd. (998-SEHK) | China | 1,239.28 |
| 30 | Shanghai Pudong Development Bank Co. Ltd. (600000-SHSE)** | China | 1,184.28 |
| 31 | Morgan Stanley (MS-NYSE) | U.S. | 1,180.23 |
| 32 | Crédit Mutuel Group | France | 1,180.22 |
| 33 | Lloyds Banking Group PLC (LLOY-LSE) | U.K. | 1,057.69 |
| 34 | China Minsheng Banking Corp. Ltd. (600016-SHSE) | China | 1,051.97 |
| 35 | Intesa Sanpaolo SpA (ISP-BIT) | Italy | 1,042.73 |
| 36 | ING Groep NV (INGA-ENXTAM) | Netherlands | 1,034.32 |
| 37 | The Bank of Nova Scotia (BNS-TSX)* | Canada | 1,029.80 |
| 38 | UniCredit SpA (UCG-BIT) | Italy | 916.72 |
| 39 | China Everbright Bank Co. Ltd. (601818-SHSE) | China | 913.49 |
| 40 | NatWest Group PLC (NWG-LSE) | U.K. | 867.59 |
| 41 | Bank of Montreal (BMO-TSX)* | Canada | 859.05 |
| 42 | Commonwealth Bank of Australia (CBA-ASX) | Australia | 837.21 |
| 43 | Standard Chartered PLC (STAN-LSE) | U.K. | 819.92 |
| 44 | La Banque Postale SA | France | 796.88 |
| 45 | Ping An Bank Co. Ltd. (000001-SZSE) | China | 771.55 |
| 46 | Banco Bilbao Vizcaya Argentaria SA (BBVA-BME) | Spain | 762.15 |
| 47 | The Norinchukin Bank | Japan | 753.26 |
| 48 | State Bank of India (SBIN-NSEI) | India | 694.94 |
| 49 | Canadian Imperial Bank of Commerce (CM-TSX)* | Canada | 691.31 |
| 50 | National Australia Bank Ltd. (NAB-ASX)** | Australia | 679.76 |
| 51 | U.S. Bancorp (USB-NYSE) | U.S. | 674.81 |
| 52 | Rabobank | Netherlands | 671.70 |
| 53 | DZ BANK AG Deutsche Zentral-Genossenschaftsbank Frankfurt am Main | Germany | 670.13 |
| 54 | ANZ Group Holdings Ltd. (ANZ-ASX)** | Australia | 669.66 |
| 55 | Westpac Banking Corp. (WBC-ASX)** | Australia | 653.39 |
| 56 | Nordea Bank Abp (NDA SE-OM) | Finland | 635.72 |
| 57 | CaixaBank SA (CABK-BME) | Spain | 604.03 |
| 58 | Sberbank of Russia (SBER-MISX) | Russia | 566.07 |
| 59 | KB Financial Group Inc. (A105560-KOSE) | South Korea | 557.54 |
| 60 | PNC Financial Services Group Inc. (PNC-NYSE) | U.S. | 557.26 |
| 61 | Resona Holdings Inc. (8308-TSE) | Japan | 557.10 |
| 62 | Truist Financial Corp. (TFC-NYSE) | U.S. | 555.26 |
| 63 | DBS Group Holdings Ltd. (D05-SGX) | Singapore | 554.40 |
| 64 | Danske Bank A/S (DANSKE-CPSE) | Denmark | 540.66 |
| 65 | Hua Xia Bank Co. Ltd. (600015-SHSE)** | China | 540.04 |
| 66 | Shinhan Financial Group Co. Ltd. (A055550-KOSE) | South Korea | 537.44 |
| 67 | China Guangfa Bank Co. Ltd. | China | 528.91 |
| 68 | Sumitomo Mitsui Trust Holdings Inc. (8309-TSE) | Japan | 516.83 |
| 69 | Commerzbank AG (CBK-XTRA) | Germany | 510.25 |
| 70 | Capital One Financial Corp. (COF-NYSE) | China | 455.25 |
| 71 | Hana Financial Group Inc. (A086790-KOSE) | U.S. | 452.34 |
| 72 | Bank of Beijing Co. Ltd. (601169-SHSE)** | South Korea | 447.54 |
| 73 | Itaú Unibanco Holding SA (ITUB4-BOVESPA) | Brazil | 439.50 |
| 74 | Oversea-Chinese Banking Corp. Ltd. (O39-SGX) | Singapore | 417.61 |
| 75 | NongHyup Financial Group Inc. | South Korea | 417.37 |
| 76 | Bank of Jiangsu Co. Ltd. (600919-SHSE)** | China | 410.83 |
| 77 | The Bank of New York Mellon Corp. (BK-NYSE) | U.S. | 405.78 |
| 78 | ABN AMRO Bank NV (ABN-ENXTAM) | Netherlands | 405.67 |
| 79 | Bank of Shanghai Co. Ltd. (601229-SHSE)** | China | 405.13 |
| 80 | Woori Financial Group Inc. (A316140-KOSE) | South Korea | 382.05 |
| 81 | KBC Group NV (KBC-ENXTBR) | Belgium | 380.33 |
| 82 | China Zheshang Bank Co. Ltd. (2016-SEHK) | China | 380.14 |
| 83 | Banco do Brasil SA (BBAS3-BOVESPA) | Brazil | 379.78 |
| 84 | United Overseas Bank Ltd. (U11-SGX) | Singapore | 376.07 |
| 85 | Nomura Holdings Inc. (8604-TSE) | Japan | 373.41 |
| 86 | Landesbank Baden-Württemberg | Germany | 346.45 |
| 87 | Erste Group Bank AG (EBS-WBAG) | Austria | 346.12 |
| 88 | Industrial Bank of Korea (A024110-KOSE) | South Korea | 343.49 |
| 89 | Bank of Ningbo Co. Ltd. (002142-SZSE) | China | 343.05 |
| 90 | Banco Bradesco SA (BBDC4-BOVESPA) | Brazil | 340.41 |
| 91 | Skandinaviska Enskilda Banken AB (publ) (SEB A-OM) | Sweden | 338.91 |
| 92 | VTB Bank PJSC (VTBR-MISX) | Russia | 335.11 |
| 93 | Svenska Handelsbanken AB (publ) (SHB A-OM) | Sweden | 331.32 |
| 94 | DNB Bank ASA (DNB-OB) | Norway | 328.50 |
| 95 | Qatar National Bank (QPSC) (QNBK-DSM)*** | Qatar | 323.56 |
| 96 | National Bank of Canada (NA-TSX)* | Canada | 313.67 |
| 97 | Macquarie Group Ltd. (MQG-ASX)** | Australia | 313.47 |
| 98 | Nationwide Building Society (NBS-LSE)** | U.K. | 311.93 |
| 99 | Raiffeisen Gruppe Switzerland | Switzerland | 303.50 |
| 100 | First Abu Dhabi Bank PJSC (FAB-ADX) | UAE | 302.22 |
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