2/5/2020 These are the 10 biggest banks in the world in 2019, Business Insider - Business Insider Singapore

These are the 10 biggest banks in the world in

2019
Yusuf Khan, Business Insider US
July 4, 2019

JPMorgan is the highest-ranking US bank. REUTERS/Eduardo Munoz

Chinese banks came out on top as the world’s biggest, according to

calculations by The Banker.

American banks are more efficient in use of their assets.

British banks defied the Brexit slump by increasing their profits.

Read more on Markets Insider.

Every year, The Banker compiles a list of the biggest banks in the world, and
yet again Chinese banks have dominated the top of the list.
The Banker includes 1000 banks across the list, ranking them based upon Tier
1 capital – a yardstick used by regulators to assess a bank’s financial health.
On the list of the top 10 banks, only four of them were American, with one from
the UK, one from Japan and the rest were Chinese.
While Chinese banks were the largest, American banks were more efficient in
use of their assets, The Banker said.
“Free and open markets encourage banks to be more efficient,” Editor Brian
Caplen said on the publication’s website. “A more closed system in China with
greater state involvement is less effective in driving efficiency.”
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British banks increased their profits by a third, but were still chasing French
banks in terms of profits and capital.
Check out the list of the 10 biggest banks below.

10. Mitsubishi UFJ, Japan — $146 billion

Thomson Reuters

9. HSBC Holdings, UK — $147 billion

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Reuters

8. Citigroup, US — $158 billion

Reuters

7. Wells Fargo, US — $168 billion

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Spencer Platt / Getty Images

6. Bank of America, US — $189 billion

REUTERS/Shannon Stapleton

5. JPMorgan Chase, US — $209 billion

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4. Bank of China, China — $230

3. Agricultural Bank of China, China — $243 billion

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2. China Construction Bank, China — $287 billion

BankTrack

1. ICBC, China — $338 billion

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Thomson Reuters

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