The biggest banks in the world

Banks play an essential role in the national economy. In this article, we are going to talk about some of the biggest banks in the world.
Banks play an essential role in the national economy. In this article, we are going to talk about some of the biggest banks in the world. Largest banks like the industrial and commercial banks will also be discussed. You will be enlightened with the largest banks strategies followed which help in ranking them, revenue yielded, and responsibilities provide customer service. The term bank can be greatly introduced as a license-holding financial institute that is responsible for financial services to the human community like making deposits and providing loans etc. A huge variety of the world's financial institutes are framed by this term based on their size are nature. Apart from having amazing history, these banks are as well known for their particular country's geographical Locations. Every country has a central bank. Normally, banks work for the country's government and are handling the responsibilities of
macroeconomics (in special terms handling monetary policy). On the other hand, their also banking systems that are responsible for the lending of the lost resort and are known as regulating banks. The objective of these banks is to regulate and make good management and try to avoid bad investments and risky situations. For instance, the best examples of these banks are the Federal Reserve System (located in the United State of America) and the bank of England (which
is located in the UK). When it comes to categorizing the banks or the banking systems one can find many ways to do it. If we have a look at the banking system of America they have investment banks and also various commercial banks. An investment bank is responsible for dealing with and providing help to various investors. While the commercial bank is responsible for depositing money like providing loans to the customers and providing other selling services related to product details like real-estate type services related data. All right, we have talked a lot now let's jump into our focus point and see Some of the biggest banks in the world.

Industrial and Commercial Bank of China:

On January 1, 1984, Industrial and Commercial Bank of China was found in Beijing, China. The Industrial and Commercial Bank of China (ICBC) has rapidly developed to evolve as the largest bank in the world. It has a total staggering asset value of $3.47 trillion. It has the headquarters in Xicheng District, Beijing, China.

China Construction Bank Corporation:

China Construction Bank Corporation is the second-largest bank in the world by market capitalization. It is one of China's "big four" banks. China Construction Bank Corporation is also the 6th-largest company in the world. On October 1, 1954, the Ministry of Finance of the People’s Republic of China founded this 2nd largest bank. The China Construction Bank Corporation has an assets value of $3.02 trillion

BNP Paribas:

BNP Paribas is a French international organization and thethird-largest bank in the world. In 1822, it is one of the biggest bank in the world was founded. This bank networks are operating in 75 different countries.In 2001, the revenue of the bank was 46.2 billion EUR. BNP made 4 domestic retail banking requests which are located in France, Italy, Belgium, and Luxembourg. In 2009, it became the largest depositor in the Eurozone, after acquiring 75% of Fortis Bank. The headquarters of the company are in Paris, France.

J.P. Morgan Chase:

J.P. Morgan Chase is a multinational American investment bank and is sixth-largest bank in the world with assets of $2.50 trillion. This bank is also the second-youngest bank on our list. This financial services holding company has headquartered in New York City and incorporated in Delaware. J.P. Morgan Chase is offering services in 100 countries. Services provided by the bank are like asset management, investment banking, and other customer services.

HSBC Effects (HSBC):

One of the largest global banks in the world. HSBC has 64 operational locations and about 40 million employees. The bank also offers private, retail, and wealth management solutions. Additionally, it offers institutions, governments, pots financial services, and goods.

Bank of America:

The Charlotte-based bank serves over 66 million individuals and small businesses. Bank of America provides banking and financial services like wealth management, commercial banking, and investment banking to organizations, governments, institutions, and people in about 35 different countries.

Credit Agricole:

At moment, Credit Agricole is the biggest bank in Europe. Initially, this historical noteworthy bank was built as an agricultural facility for farmers and other rural tourists. Due to its historical ties, it is also known as La Banque verte. It has headquarters in Montrouge, France. On December 31, 2000, it was found in the US.

Mitsubishi UFJ Financial Group (MUFG):

A Japanese holding firm that offers financial services is called MUFG. The Financial Group of Mitsubishi UFJ is the largest bank holding fiscal group in Japan and the fifth-largest bank in the world. It is a sizable subsidiary of the Mitsubishi Corporation and provides a range of services to its customers, including asset management, trust banking, and commercial banking. Since it was founded in 2005, MUFG has had its present headquarters in Yurakucho, Chiyoda, Tokyo, Japan. MUFG is one of the biggest banks in the world, with USD 2.8 trillion in assets.

Bank of China Ltd:

Bank of China Ltd is the majority state-owned commercial bank in China. In 1912, the Republican government as China’s central bank founded it. This 4th largest bank in the world, which has its headquarters in Beijing, China.