The US multinational holding company providing banking and financial services occupies the top position in this rating. Wells Fargo has a lot of offices all over the planet. This corporation is regarded as the largest both in the United States and in the world. Wells Fargo has a market capitalization of $261.72 billion.
The second place among the world's richest banks is taken by the American banking conglomerate JP Morgan. This holding was formed in 2000 when Chase Manhattan Corporation merged with JP Morgan & Co. The latter is responsible for investments, assets, and cash flow management, while Chase Manhattan focuses on credit cards and retail business. The conglomerate's assets reach an impressive $2,476.99 trillion. JP Morgan Chase market capitalization totals $229.90 billion.
Industrial and Commercial Bank of China
The honorable third place in this list is given to Industrial and Commercial Bank of China (ICBC), the largest commercial bank in the country. In 2014, the financial institution's capitalization amounted to $196.21 billion, while total assets reached $3.1 trillion. Today, this figure is even greater.
The fourth position in the list of wealthy financial institutions in the world goes to HSBC Holdings. This British bank holding company provides banking and financial services. The number of its customers reaches 125 million people. HSBC Holdings has about 7,000 branches all over the world. Its market capitalization is $191.43 billion.
Bank of America
Bank of America, the second largest bank in the United States after Wells Fargo, occupies the fifth position in this rating. Leading economists consider it one of the richest financial institutions in the world with the market capitalization of $181.77 billion.
China Construction Bank
The sixth line in the list of the world's richest banks is taken by China Construction Bank. Seven years ago, the bank posted an 11% increase in its full-year net profit which had reached $34.98 billion. The holding's market capitalization continues to grow. Currently, it totals $160.83 billion.
The seventh position among the most financially backed banks in the world is occupied by Citigroup Inc. After the economic crisis of 2008, it regained its financial strength and built up $420 billion in surplus cash reserves and government securities. The market capitalization of Citigroup Inc. advanced to $144.63 billion.
Commonwealth Bank of Australia
Commonwealth Bank of Australia is ranked eighth. The bank founded in 1911 has a long history. This is Australia's second largest private company working with securities on stock exchanges. Commonwealth Bank of Australia provides a wide range of services, including lending, mortgages, and insurance. Its market capitalization is $131.53 billion.
Agricultural Bank of China
The ninth position among the world's richest banks goes to Agricultural Bank of China, the largest financial institution in China engaged in agricultural lending. The bank has 320 million retail customers, 3 million corporate clients, and 24 thousand branches across the globe. Agricultural Bank of China is considered one of the most powerful open joint stock companies in the world. Its capitalization amounts to $126.41 billion.
Bank of China
Bank of China, the oldest bank in the country founded in 1912, closes the list of the top 10 leading financial corporations. The fourth largest state-owned bank in the country has branches around the world. Bank of China's capitalization is $115.92 billion.