Best Banks in the World 2017: When the banking industry got hit by global financial crisis of 2008, it started the trend in which the once-dominant European banks began their drowning time in favor of fast growing banks from Asia. Before the crisis, European banks rule the global banking industry with banks from Europe occupying 9 of the top 10 largest banks in the world by assets in 2007. But after 5 years of the crisis in 2013, only 4 European banks were among the top 10 in the industry and then later in June 2016 only 2 of the Europeans could settle the place.
Despite big scandals and backlash from last decade’s financial crisis, the banks that are the complex part of our global economy have preserved. The Best Banks in the World 2017 have outstanding assets of about $25.81 trillion combined.
Best Banks in the World 2017
Most of the biggest banks are outside of the United States, with the top 4 in China but there are 2 American-based banks that made it onto the latest list from Relbanks.com.
1- Industrial and Commercial Bank of China
The Bank founded in 1984 and now leading and largest bank of world measured by the assets in all over the world. The Banks proceedings come in at $134.8 billion. According to the earning, it is listed as the 4th largest bank in the world.
This bank provides about 460000 employees from all over the world
2- China Construction Bank Corporation
This Chinese Bank is occupying the second rank in the top 10 Banks in the world. The bank issues about 372000 employments. It has almost 15000 branches all over the world and about 13,600 branches across Mainland China only. It offers the corporate banking dealing with the credit, company e-banking, credit lines, commercial loans and offering the personal loan, credit cards, deposits, wealth management for high net worth for individual investors.
Founded in 1954, The China Construction Bank has assets of $2.94 trillion. The Bank is working on improve pricing on loans. And accept all the controversies this Bank has managed to be on 2nd position.
3- Agriculture Bank of China
It is state owned and biggest public bank along with being the 3rd largest Bank in the world it also occupies the 10th position in the largest companies in the world. Founded in 1951, the Bank has branches across China, London, Tokyo, New York, Sydney and Australia.
The Bank not only deals with the small farmers and large agricultural wholesale companies but also with the non-agricultural companies. It has 494,000 employees, $129 billion in sales, $190 billion market capitalization. The Beijing bank has assets of $2.82 trillion.
4- Bank of China
The oldest bank was founded by government of China in 1912. It offers investment banking, insurance and investing services with more than 100 years of experience still they provide quality service. With 308,000 employees, market capitalization of $199 billion, sales of $120 billion and total assets of $2.6 trillion, it provides personal loans, credit card services, debit cards, mortgages, asset and liability management and insurance.
The bank sold bonds denominated in four currencies on April, 2017. And so it occupies the 4th position in the list.
5- HSBC Holdings
Based in England has office in 80 countries and has 1800 locations in UK. Along with corporate banking, it provides private banking and consumer finance with investment services. HSBC has $2.57 trillion in assets.
6- JPMorgan Chase & Co.
The multinational bank based in New York and was founded in 1799. After the merging of JPMorgan Chase and Co with Chase Manhattan Corporation in 2000, four of the largest banking institutions in the United States were combined under the name J.P. Morgan Chase.
Due to the certain financial crisis in 2008, the bank ranked 6th on the list. One of the oldest banks has a $225.5 market capitalization, 241,000 employees, and sales of $98 billion and assets total $2.45 trillion.
7- BNP Paribas
This French bank has assets of $2.4 trillion. It has offices in 75 countries, including the United States. BNP Paribas ranked second among banks in the euro zone in 2016. This bank is world’s most valuable bank.
The company announced on April 5, 2017 that it had sold its shares in the Dakota Pipeline. The sale was worth $120 million.
8- Mitsubishi UFJ Financial Group
The second largest bank in Japan has the assets for the bank total $2,901.34 billion. This Japanese bank offers consumer banking, as well as business and private banking. This is also an investment bank. It offers asset management and real estate banking. Mitsubishi UFJ Financial Group has assets worth $2.459 trillion.
9- Bank of America (BAC)
This is an American bank and has their bank operating in all the state of America. It offers services for personal banking, small businesses, mid-sized businesses, and large corporations. The income of the bank has dropped in the last few years but on April 18, 2017, the bank reported a 46% rise in earnings per share. This bank has about 224,000 employees all over the world with capitalization of about $163 billion and the assets are $2.1 trillion.
10- Credit Agricole Group
The second French Bank on this list and is part of a network of 39 French banks. It also invested in Coca-Cola (KO), Exxon Mobile (XOM), and Abercrombie and Fitch. In February, 2017 drop of about 67% due to mortgage refinancing by its customers but now it has been reported to be rose by 7%.
The bank has also ranked as one of the world’s top 20 sustainable companies by Forbes. It has assets of $1.91 trillion.
Best Banks in the World 2017 – The Top 10 List
- Industrial and Commercial Bank of China
- China Construction Bank Corporation
- Agriculture Bank of China
- Bank of China
- HSBC Holdings
- JPMorgan Chase & Co.
- BNP Paribas
- Mitsubishi UFJ Financial Group
- Bank of America (BAC)
- Credit Agricole Group