Largest Banks In World: Top ten largest banks in the world account for nearly 27% of the total market capitalisation of banking sector. At the top of the list, American company, JP Morgan Chase holds the title of the largest bank followed Bank of America and ICBC. In the top 5, there are banks based from USA, while in China. However, the top 10 largest bank list is dominated by these two countries, with exception of Royal Bank of Canada or UK's HSBC fighting for tenth spot. From India, HDFC Bank is in the top 15, with ICICIC Bank and SBI in top 25. Let's have a look of how these companies have performed. Let's have a check of stock performance.
1. JP Morgan Chase:
The USA-based JP Morgan Chase holds the first rank with a huge gap from its contenders. JP Morgan has a market cap of $670.71 billion as of December 18, 2024. Year-to-date, JP Morgan's stock has jumped by nearly 39% on NYSE so far. In a year, the upside of the stock is about 44%. All-time gains of JP Morgan is a whopping 2,061%. Currently, the stock is below $240 apiece.
J.P. Morgan is a leader in investment banking, commercial banking, financial transaction processing and asset management. With its legacy dating back to 1799, JP Morgan is currently serving serve millions of customers, clients and communities in over 100 global markets with more than 300,000 employees worldwide.
2. Bank of America:
Yet an another USA-based lender, Bank of America is the second largest bank in the world with a market cap of $348 billion. Trading around $45 apiece, Bank of America stock has given nearly 34% returns YTD so far, while in a year, the stock zoomed by 36%. Its all-time gain is more than 900%.
Bank of America is one of the world's leading financial institutions, serving individuals, small- and middle-market businesses, large corporations, and governments with a full range of banking, investment management and other financial and risk management products and services.
3. ICBC:
This Chinese bank is at the third rank of the top banks list with a market cap of about $296 billion as of December 18. Trading around Chinese yuan 7, the stock has surged by nearly 38% YTD, while in a year, the upside is about 38%. All-time gains of the bank are about 105%.
Headquartered in Beijing, the Industrial and Commercial Bank of China (ICBC) is the largest of the "big four" banks in China and is majorly owned by the Chinese government. The bank offers auto insurance products heavily.
4. Agricultural Bank of China:
Agricultural Bank of China, also popularly known as AgBank is another Chinese bank that is headquartered in Beijing. As of December 18, the lender has a market cap of 240 billion, while its stock has surged by over 39% YTD. The stock is currently above Chinese Yuan 5. In a year, its upside is about 41%, while all-time gains are about 90%.
Also, part of the 'big-four' banks of China, the lender is one of the major integrated financial service providers in the country, aiming at high-quality development, highlighting the two positionings of a leading bank serving rural revitalization and a major bank serving the real economy, and fully implementing the three strategies in Sannong and inclusive finance, green finance and digital operation.
5. Wells Fargo:
At the fifth rank is another US-based financial services provider, Wells Fargo with a market cap of more than $237 billion as of December 18. Trading below 100 dollars, Wells Fargo has given about 44% returns YTD, and in a year, the gains are about 43%. Wells Fargo's all-time gains are about 7,128%.
Headquartered in San Francisco and California, Wells Fargo operates in 35 countries and serves over 70 million customers worldwide. Wells Fargo is part of big-four banks in the United States. The other three are JP Morgan, Bank of America and Citigroup.
Other banks:
6. Morgan Stanley: With a market cap of over $206 billion, Stanley stock surged by 36% YTD. Its all-time gains are about 4,437% as of now.
7. China Construction Bank: The lender has an M-cap of over $206 billion, giving intense competition to US-based Morgan Stanley.
8. At the eighth rank is also a Chinese bank, Bank of China with a market cap of nearly $194 billion.
9. Goldman Sachs is at the ninth rank of the world's largest bank in terms of market share. Goldman's valuation is about $182 billion as of now.
10. There has been a tug-of-war for the 10th position, between UK-based HSBC and Canadian lender Royal Bank of Canada who currently have a market cap of $177 billion and $175 billion respectively.
Coming to Indian banks, the country's largest lender, HDFC Bank is at the 13th rank with a market cap of over $166 billion. HDFC is followed by ICICI Bank at the 18th rank with a market cap of over $109 billion. Both HDFC and ICICI Bank have made the top 20 clubs.
While, India's largest PSU lender State Bank of India (India) enters into the top 25 club, with a market cap of $88.14 billion. SBI is currently at 24th rank in the world's list.
Notably, HDFC Bank, ICICI Bank and SBI are RBI's 'Too Big To Fail' banks.
Additionally, Indian private banks such as Kotak Mahindra Bank and Axis Bank are at 61st and 62nd in the world's list with a market cap of $42 billion and $41 billion as of now.
The world's companies market data showed that there are 681 banks trading globally, with a market cap cumulatively at around $10.155 trillion.
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