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.
- HSBC Holdings. This is the largest bank in Britain; the value of its assets is estimated at $2.57 trillion. The British bank has offices in 80 countries and throughout the UK.
HSBC operates in Europe, Asia-Pacific, North and South America, the Middle East and Africa (85 countries all over the world). The Bank carries out all banking activities, including asset management, settlement operations, project financing, etc. The head office of the bank is located in the London business district Canary Wharf. The total number of employees is 330 thousand people.
- BNP Paribas. The company’s headquarters are in Paris, and the bank has branches in 75 countries around the world. The value of assets is $2.4 trillion. In 2016, the bank ranked second in terms of assets among the banks of the Eurozone.
The bank’s activities include the Office for Corporate Banking, servicing financial flows, loans and deposits, commercial proposals, cash flow and liquidity management, foreign exchange transactions.
- Bank of America. The value of assets is $2.15 trillion. The company focuses on retail banking and has about 5,000 outlets. The Bank offers personal and business banking as well as investment services.
The net profit of BofA in 2017 amounted to 18.232 billion dollars, which is 2.3% more than the previous year, the bank said. Revenues of the bank, net of interest expenses for the reporting period, amounted to $ 87.352 billion, which is 4.36% more than a year ago.
- Credit Agricole Group. This is French banking giant which amount of assets is $1.91 trillion. The company was founded in 1894 and is headquartered in Montrouge, France.
Occupies strong positions in the markets of car loans and consumer lending, successfully promotes salary projects. Also it issues loans for the purchase of housing, accepts deposits from the individuals on attractive terms. In addition, the Bank provides a full range of services for business, focusing on cooperation with companies of the agro-industrial complex.
So choose only the best bank both for your business and personal needs.