The 10 Biggest Banks in the World, 1-4 Controlled by China! Is there Indonesia?
Jakarta, CNBC Indonesia - The banking crisis that has hit the United States (US) and Europe has begun to spread and has caused great concern among market players. Even though Indonesia itself is said to have strong bank defense, it is starting to be vigilant and monitoring developments.
How could it not be, the banking crisis that occurred involved a row of large world-class banks. Call it Credit Suisse, Deutsche Bank, JPMorgan Chase and several other banks such as Silicon Valley Bank, Signature Bank and Silvergate.
It should be noted, the banking industry itself is a highly regulated business and has tight supervision, compared to other financial industries. This indicates that the global economic conditions are not doing well. Then who are the biggest banks in the world?
1. Industrial and Commercial Bank of China (ICBC) US$ 5.53 trillion
Founded in Beijing in 1984, Industrial and Commercial Bank of China (ICBC) is the world's largest bank by asset value, with more than US$ 5.53 trillion at its last accounting.
It is one of China's "Big Four" state-owned banks that dominate this list. ICBC has a global network with operations in 42 countries and territories.
ICBC claims to have more than 530 million personal banking customers and 5.7 million corporate banking customers.
2. China Construction Bank Corporation (CCBC) US$ 4.76 trillion
Headquartered in Beijing, China Construction Bank Corporation (CCBC) was founded in 1954 and is currently chaired by Wang Hongzhang.
The company has assets of US$ 4.76 trillion and is under the ownership of the Chinese government's Ministry of Finance - although for a short period of time Bank of America held a 10% stake in CCBC.
The bank, which operates in retail banking, corporate banking, investment banking, private equity and wealth management services, has more than 13,600 domestic branches, as well as a number of overseas operations including in Europe, Hong Kong to the US.
3. Agricultural Bank of China (US$ 4.57 trillion)
The Beijing-based Agricultural Bank of China was founded in 1951, after a merger between the two main banks present to help farmers, namely the Cooperation Bank and the Farmers Bank of China.
With total assets of more than US$4.57 trillion, the bank says it has around 320 million retail customers, 2.7 million corporate clients and 24,000 branches across mainland China. As well as branches in Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul and Singapore.
4. Bank of China (US$ 4.20 trillion)
The last member of the Chinese banking gang is the Bank of China which was founded in 1912 and is the oldest bank still operating in mainland China having its headquarters in Beijing.
At its inception, the bank was officially licensed to issue banknotes throughout mainland China, but now that privilege can only be exercised in two special administrative regions, Hong Kong and Macau.
Bank of China has assets of more than US$4.20 trillion and is the Chinese bank with the largest global reach and operations in 51 countries and regions.
Its core business is commercial banking, including corporate banking, personal banking and financial market services.
5. JP Morgan Chase (US$ 3.74 trillion)
The largest bank in the US, JP Morgan Chase in its current iteration was founded in 2000 and is the result of several mergers and acquisitions, including Chase Manhattan Bank, JP Morgan, Bank One, Bear Stearns, and Washington Mutual.
Currently based in New York and led by CEO Jamie Dimon, the bank has over $3.74 trillion in assets.
The bank is engaged in a variety of financial services under several divisions, including retail banking under the Chase brand and corporate banking under the Morgan brand.
JP Morgan Chase currently employs more than 25,000 people and is present in hundreds of markets.
6. Mitsubishi UFJ Financial Group (MUFG) US$ 3.17 trillion
Headquartered in Tokyo, Mitsubishi UFJ Financial Group (MUFG) is the largest financial services company in Japan which was the result of a merger between Mitsubishi Tokyo Financial Group and UFJ Holdings in 2005. This bank is engaged in retail banking, investment management and retail management.
7. Bank of America (BofA) US$ 3.16 trillion
Bank of America is the second largest financial institution in the US. It is currently based in Charlotte, North Carolina, but was founded in San Francisco in 1904 as the Bank of Italy to serve the area's working-class citizens, especially Italian-American immigrants.
Incorporation in its current form occurred in 1998, following a US$62 billion acquisition by NationsBank, and has a significant footprint in the wealth management and investment sector under the Merrill Lynch brand.
8. HSBC (US$ 2.95 trillion)
London-based multinational bank HSBC is Europe's largest financial institution. The company serves more than 39 million customers through four global businesses, from retail banking and wealth management to commercial banking.
HSBC operates in 66 countries and territories across Europe, Asia, the Middle East and Africa, North America and Latin America. Although now based in England, HSBC has roots in Hong Kong where it was first founded in 1866.
9. BNP Paribas (US$ 2.90 trillion)
BNP Paribas in its current form is the result of the merger of the Banque Nationale de Paris (BNP) and Paribas in 2000.
Based in Paris, BNP employs around 200,000 people in 72 countries, with two main focuses on its business - retail and corporate banking.
The bank serves nearly 32 million individual customers and 850,000 professionals, entrepreneurs, SMEs and large corporate clients through its retail banking network.
10. Crédit Agricole (US$ 2.67 trillion)
Based in Montrouge, France, Crédit Agricole is the second largest bank in the country and the third largest in Europe. Crédit Agricole is also the largest cooperative financial institution in the world.
The company was founded in 1894 as a lender to the agricultural industry, and after undergoing a number of institutional transformations, has today developed into one of the world's giant banks.
Meanwhile, there are no banks from Indonesia in the list of the world's 100 largest banks in terms of assets. However, the Southeast Asia region sent three representatives, namely the big three from Singapore. DBS is the largest (US$ 509 billion), followed by OCBC and UOB.
https://www.cnbcindonesia.com/market/20230330084133-17-425721/10-bank-terbesar-di-dunia-1-4-dikuasai-china-ada-indonesia
How could it not be, the banking crisis that occurred involved a row of large world-class banks. Call it Credit Suisse, Deutsche Bank, JPMorgan Chase and several other banks such as Silicon Valley Bank, Signature Bank and Silvergate.
It should be noted, the banking industry itself is a highly regulated business and has tight supervision, compared to other financial industries. This indicates that the global economic conditions are not doing well. Then who are the biggest banks in the world?
1. Industrial and Commercial Bank of China (ICBC) US$ 5.53 trillion
Founded in Beijing in 1984, Industrial and Commercial Bank of China (ICBC) is the world's largest bank by asset value, with more than US$ 5.53 trillion at its last accounting.
It is one of China's "Big Four" state-owned banks that dominate this list. ICBC has a global network with operations in 42 countries and territories.
ICBC claims to have more than 530 million personal banking customers and 5.7 million corporate banking customers.
2. China Construction Bank Corporation (CCBC) US$ 4.76 trillion
Headquartered in Beijing, China Construction Bank Corporation (CCBC) was founded in 1954 and is currently chaired by Wang Hongzhang.
The company has assets of US$ 4.76 trillion and is under the ownership of the Chinese government's Ministry of Finance - although for a short period of time Bank of America held a 10% stake in CCBC.
The bank, which operates in retail banking, corporate banking, investment banking, private equity and wealth management services, has more than 13,600 domestic branches, as well as a number of overseas operations including in Europe, Hong Kong to the US.
3. Agricultural Bank of China (US$ 4.57 trillion)
The Beijing-based Agricultural Bank of China was founded in 1951, after a merger between the two main banks present to help farmers, namely the Cooperation Bank and the Farmers Bank of China.
With total assets of more than US$4.57 trillion, the bank says it has around 320 million retail customers, 2.7 million corporate clients and 24,000 branches across mainland China. As well as branches in Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul and Singapore.
4. Bank of China (US$ 4.20 trillion)
The last member of the Chinese banking gang is the Bank of China which was founded in 1912 and is the oldest bank still operating in mainland China having its headquarters in Beijing.
At its inception, the bank was officially licensed to issue banknotes throughout mainland China, but now that privilege can only be exercised in two special administrative regions, Hong Kong and Macau.
Bank of China has assets of more than US$4.20 trillion and is the Chinese bank with the largest global reach and operations in 51 countries and regions.
Its core business is commercial banking, including corporate banking, personal banking and financial market services.
5. JP Morgan Chase (US$ 3.74 trillion)
The largest bank in the US, JP Morgan Chase in its current iteration was founded in 2000 and is the result of several mergers and acquisitions, including Chase Manhattan Bank, JP Morgan, Bank One, Bear Stearns, and Washington Mutual.
Currently based in New York and led by CEO Jamie Dimon, the bank has over $3.74 trillion in assets.
The bank is engaged in a variety of financial services under several divisions, including retail banking under the Chase brand and corporate banking under the Morgan brand.
JP Morgan Chase currently employs more than 25,000 people and is present in hundreds of markets.
6. Mitsubishi UFJ Financial Group (MUFG) US$ 3.17 trillion
Headquartered in Tokyo, Mitsubishi UFJ Financial Group (MUFG) is the largest financial services company in Japan which was the result of a merger between Mitsubishi Tokyo Financial Group and UFJ Holdings in 2005. This bank is engaged in retail banking, investment management and retail management.
7. Bank of America (BofA) US$ 3.16 trillion
Bank of America is the second largest financial institution in the US. It is currently based in Charlotte, North Carolina, but was founded in San Francisco in 1904 as the Bank of Italy to serve the area's working-class citizens, especially Italian-American immigrants.
Incorporation in its current form occurred in 1998, following a US$62 billion acquisition by NationsBank, and has a significant footprint in the wealth management and investment sector under the Merrill Lynch brand.
8. HSBC (US$ 2.95 trillion)
London-based multinational bank HSBC is Europe's largest financial institution. The company serves more than 39 million customers through four global businesses, from retail banking and wealth management to commercial banking.
HSBC operates in 66 countries and territories across Europe, Asia, the Middle East and Africa, North America and Latin America. Although now based in England, HSBC has roots in Hong Kong where it was first founded in 1866.
9. BNP Paribas (US$ 2.90 trillion)
BNP Paribas in its current form is the result of the merger of the Banque Nationale de Paris (BNP) and Paribas in 2000.
Based in Paris, BNP employs around 200,000 people in 72 countries, with two main focuses on its business - retail and corporate banking.
The bank serves nearly 32 million individual customers and 850,000 professionals, entrepreneurs, SMEs and large corporate clients through its retail banking network.
10. Crédit Agricole (US$ 2.67 trillion)
Based in Montrouge, France, Crédit Agricole is the second largest bank in the country and the third largest in Europe. Crédit Agricole is also the largest cooperative financial institution in the world.
The company was founded in 1894 as a lender to the agricultural industry, and after undergoing a number of institutional transformations, has today developed into one of the world's giant banks.
Meanwhile, there are no banks from Indonesia in the list of the world's 100 largest banks in terms of assets. However, the Southeast Asia region sent three representatives, namely the big three from Singapore. DBS is the largest (US$ 509 billion), followed by OCBC and UOB.
https://www.cnbcindonesia.com/market/20230330084133-17-425721/10-bank-terbesar-di-dunia-1-4-dikuasai-china-ada-indonesia
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