Charted: The World’s 100 Largest Banks
Banking is big business
Banking is a globally important industry. Banks provide funding to fuel commercial endeavours, facilitate international trade, provide a safe place for people to store their hard-earned money, and provide credit to acquire properties such as housing, among other services.
The banks that appear on the S&P Global Market Intelligence’s ranking of the world’s 100 largest banks held assets totalling $111.965 trillion USD at the end of 2022.
The largest banks in the world are concentrated in just 25 countries worldwide with China dominating the list. The country’s largest banks lay claim to the top four spots and make up 20% of the list. There is representation from each continent except Africa.
Just how big are the largest banks?
The top 5 banks maintained their positions from 2022. Industrial and Commercial Bank of China Ltd. tops the 2023 list of the world’s 100 largest banks with nearly $6 trillion in assets, with China Construction Bank Corp. coming in second with $5 trillion. The top five banks account for just over one-fifth (~21%) of the total assets held by the top 100 banks. America’s top lender, JPMorgan Chase ranks fifth on the list. Here’s a closer look at the world’s top 100 largest banks.