Top 10 Largest Banks in the World
Financial and economic crisis that occurred in late 2000 made a mess in the world economy, few banks collapse and close. The financial crisis is one of the worst because it gives the negative effects of economic systems throughout the world. We have seen interest rates fall and some banks even closed, Lehman Brothers (Investment Bank) has become one of them. Today we are not talking about the financial crisis, we will talk about the list of largest banks based on assets they have.
Citigroup is ranked 10 as the largest bank in the world, they had total assets of $ 1.913 trillion. Citigroup is the combination of Citicorp, the giant banking and Travelers Group, financial conglomerate in 1998. Citgroup offer financial services in more than 140 countries and making it the world’s largest financial network. Founded in 1812 and has headquarters in New York City, USA.
9) JPMorgan Chase & Co.
With assets of $ 2.118 trillion, JPMorgan Chase & Co. is the world’s ninth largest bank. This bank was born in 2000 by the merger of JP Morgan & Chase by Chase Manhattan Corporation. The bank has about 240,000 employees worldwide in 2010 and has its headquarters in New York City, USA.
8) Bank of America
Bank of America has $ 2.264 trillion of assets that make it the world’s eighth largest bank. Bank serves clients in 150 countries around the world. Bank was formed in 1998, this bank is a joint Bank of America Corp. and NationsBank Corp., was actually an acquisition of BankAmerica Corp. by the NationsBank Corp. $ 64.8 Billion.
7) Royal Bank of Scotland Group
Royal Bank of Scotland Group is the seventh largest bank in the world is one of the world’s oldest banks, Royal Bank of Scotland has assets of $ 2.328 trillion (£ 1.452 trillion). It is also the first bank to offer an overdraft facility back in 1728. Bank has its headquarters in Edinburgh, Scotland, and has more than 140,000 employees in various countries around the world.
6) Barclays PLC
Barclays is the world’s sixth largest bank with total assets of $ 2.388 trillion (£ 1.489 trillion). Barclays has a network in 50 different countries around the world has about 48 million subscribers. Barclays was formed in 1690 and currently has approximately 150,000 employees worldwide. The bank’s headquarters are located in London, England.
5) HSBC Holdings
The world’s fifth largest bank with $ 2.454 trillion of assets are HSBC Holdings. Banks, known as The Hongkong and Shanghai Banking Corporation until 1991 operated in 87 countries with 7,500 offices and 100 million subscribers. Bank has more than 300,000 employees worldwide and headquarters located in London, England.
4) Credit Agricole S.A.
With total assets of $ 2.465 trillion (€ 1.731), Credit Agricole, based in France is the fourth largest bank in the world. It is the largest retail banking group in France and operates globally with more than 160,000 employees. Credit Agricole has its headquarters in Paris, France.
3) Mitsubishi UFJ Financial Group
Mitsubishi UFJ Financial Group is the world’s third largest bank with assets of $ 2.481 trillion (¥ 200.084 trillion). It is the largest financial institutions in Japan and has operations worldwide with about 130,000 employees. This is one of the major companies of the Mitsubishi Group and has its headquarters in Tokyo, Japan.
2) Deutsche Bank
The world’s second largest bank with $ 2.715 trillion (€ 1.906 trillion) of assets is the Deutsche Bank. Bank has more than 100,000 employees in 74 countries and mostly in Europe, America and Asia Pacific. Bank has its headquarters in Frankfurt, Germany.
1) BNP Paribas
BNP Paribas is the world’s largest bank with assets of $ 2.846 trillion (€ 1.998 trillion). Founded in 2000 through the merger of Banque Nationale de Paris (BNP) and Paribas. It has operations worldwide and employs more than 200,000 people. Bank has its headquarters in Paris, France with a second global headquarters in London, England. BNP Paribas is the largest bank in the world.