The world’s largest banks are no doubt located in China. This is not surprising, given that the Chinese economy continues to grow at a rate about three times the growth rate of the world’s largest economy in the US. However, France doesn’t lag behind being a strong leader among Europe-based banking institutions. The winners of our Top 5 were chosen on the basis of their assets, indicators for the last year, as well as a number of other parameters, including reputation and quality of management.
- Industrial & Commercial Bank of China. This bank is the largest in the world. The value of its assets is $ 3.62 trillion. Also, the bank is the fourth in the world in terms of revenue – $134.8 billion.
At present, ICBC is a clearing bank for settlements in Chinese Yuan in 7 countries: Singapore, Luxembourg, Qatar, Canada, Thailand, Argentina and Russia. ICBC became the first commercial bank in the world to conduct continuous settlements and operations in Chinese currency 24 hours a day, and its services for providing global payments reached a new level.