List of Top 10 Largest Banks in the World 2024 (2024)

Bank-holding behemoths wield considerable influence in the worldwide banking panorama in 2024. These entities command one or more banks, yet refrain from direct involvement in banking activities. They confer a strategic edge by enabling a diversified spectrum of financial services under a singular umbrella, thereby bolstering the overall stability of their banking subsidiaries.

ALSO READ| Biggest Company in the World

List of Top 10 Largest Banks in the World 2024

Numerous titans within the global banking domain operate as components of expansive bank-holding corporations. This organisational framework empowers them to furnish a diverse array of financial services, fortifying their resilience and competitiveness within the international market.

Presented below is a list delineating the ten preeminent banks on a global scale, methodically ordered according to their market capitalisations as of January 2, 2024:

Rank

Bank

Headquarters

Market Cap

1

JPMorgan Chase

New York, USA

$491.76 B

2

Bank Of America

North Carolina, USA

$266.45 B

3

ICBC Limited

Beijing, China

$219.45 B

4

Wells Fargo

California, USA

$178.74 B

5

Agricultural Bank Of China

Beijing, China

$175.69 B

6

HDFC Bank

Mumbai, India

$169.84 B

7

HSBC

London, UK

$156.13 B

8

Morgan Stanley

New York, USA

$153.05 B

9

China Construction Bank

Beijing, China

$151.97 B

10

Bank Of China

Beijing, China

$150.39 B

The global banking sector boasts an expansive and commanding presence, featuring myriad financial entities amassing trillions of dollars in assets. Within this discourse, we will scrutinise the premier 10 banks globally in 2024, furnishing an exhaustive analysis of their operational dynamics, financial prowess, and overarching impact on the global economic landscape. By meticulously inspecting the intricacies of these leading banks, we can gain enhanced insights into the contemporary financial terrain and its profound influence on our world.

ALSO READ| Biggest Library in the World

Biggest Banks in the World 2024

JPMorgan Chase

List of Top 10 Largest Banks in the World 2024 (1)

Total Assets: $3.744 Trillion

JPMorgan Chase reigns supreme as the largest bank hailing from the United States and secures the fifth position globally in terms of total assets. This financial powerhouse stands at the forefront of investment banking and financial services, cementing its role as a key player in the industry. Notably, as the Federal Reserve unveils its cutting-edge instant payment service known as the FedNow system, JPMorgan stands out prominently among the distinguished financial institutions that have swiftly embraced this innovative system.

Bank of America

Total Assets: $3.194 Trillion

Bank of America commands a formidable position in the financial landscape with a significant presence in investment banking, wealth management, and trading. Catering to a vast clientele, the institution serves approximately 66 million consumers and small business clients.

Industrial and Commercial Bank of China (ICBC)

Total Assets: $6.118 Trillion

One of The world's largest banks, the Industrial and Commercial Bank of China Limited, holds sway not only in the People's Republic of China but also on a global scale, with unmatched total assets. In the realm of international banking, ICBC stands tall, perpetually securing its place among the elite alongside formidable entities like the Bank of America.

Wells Fargo

Total Assets: $1.886 Trillion

Wells Fargo & Company, a prominent American financial institution, extends its array of financial services across approximately 35 countries. Aligning with the strategic adoption of the FedNow system, Wells Fargo collaborates with JPMorgan, joining forces with 33 additional banks and credit unions in this transformative integration.

The Agricultural Bank of China

Total Assets: $5.357 Trillion

Ranking as the third-largest bank globally in total assets, the Agricultural Bank of China assumes a pivotal role in bolstering the country's agricultural sector. Through its substantial influence, the bank contributes significantly to the support and development of China's vital agricultural industry.

HDFC Bank

List of Top 10 Largest Banks in the World 2024 (2)

Total Assets: $278.44 Billion

Effective July 2023, HDFC Bank has successfully merged with HDFC Ltd., a prominent housing finance company, uniting to form a singular entity. This strategic amalgamation aims to enhance client service capabilities and align with the evolving demands of the broader industry. Following the merger, HDFC Bank now claims the distinction of being the world's 7th largest lender and holds the position of the largest bank in India.

HSBC

Total Assets: $2.989 Trillion

HSBC, a global financial powerhouse, boasts total assets amounting to $2.989 trillion. Headquartered in the United Kingdom, this prominent banking and financial services organisation extends its reach to millions of customers worldwide.

Morgan Stanley

Total Assets: $1.199 Trillion

With total assets valued at $1.199 trillion, Morgan Stanley is an American investment bank and financial services provider. In a significant development, Morgan Stanley, in collaboration with Mitsubishi UFJ Financial, has recently unveiled plans to deepen their 15-year alliance. Their joint efforts will extend into foreign exchange trading, as well as Japanese research and equities businesses, catering to a global consumer base.

China Construction Bank (CCB)

Total Assets: $5.376 Trillion

With total assets amounting to $5.376 trillion, China Construction Bank (CCB) stands as the second-largest bank worldwide. Renowned for its substantial financial prowess, CCB wields significant influence over China's construction and infrastructure projects.

Bank of China

List of Top 10 Largest Banks in the World 2024 (3)

Total Assets: $4.422 Trillion

With total assets reaching $4.422 trillion, the Bank of China holds the distinction of being the fourth-largest bank globally. As one of the oldest financial institutions in China, it not only boasts a rich history but also maintains a substantial international presence. The compilation is derived from Forbes' rankings as of January 2024, utilising a comprehensive analysis of the banks' operations, financial performance, and their overarching impact on the global economy.

A notable trend among the largest banks involves their integration into larger bank holding companies. This organisational structure empowers them to provide a diverse range of financial services, rendering them more resilient and competitive within the global market.

ALSO READ|

  • List of all Public and Private Sector Banks in India 2022
  • Most Innovative Companies
List of Top 10 Largest Banks in the World 2024 (2024)
Top Articles
Latest Posts
Article information

Author: Zonia Mosciski DO

Last Updated:

Views: 6124

Rating: 4 / 5 (71 voted)

Reviews: 86% of readers found this page helpful

Author information

Name: Zonia Mosciski DO

Birthday: 1996-05-16

Address: Suite 228 919 Deana Ford, Lake Meridithberg, NE 60017-4257

Phone: +2613987384138

Job: Chief Retail Officer

Hobby: Tai chi, Dowsing, Poi, Letterboxing, Watching movies, Video gaming, Singing

Introduction: My name is Zonia Mosciski DO, I am a enchanting, joyous, lovely, successful, hilarious, tender, outstanding person who loves writing and wants to share my knowledge and understanding with you.