The largest banks in the world include a mix of financial institutions, spanning commercial, national, and private banking institutions.
Not surprisingly, many of these financial institutions are located in the United States, and several US options can be used to open US bank accounts for foreigners.
The list below shares the 25 largest global financial institutions in terms of total assets.
While it might not be possible for you to open accounts with all of them, there are a number of these banks that foreign non-residents can open with.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
Largest Banks in the World
- Industrial and Commercial Bank of China: USD 6.12 trillion
- Agriculture Bank of China Limited: USD 5.36 trillion
- China Construction Bank Corporation: USD 4.98 trillion
- Bank of China: USD 4.42 trillion
- JP Morgan Chase: USD 3.74 trillion
- Bank of America: USD 3.2 trillion
- HSBC Holdings: USD 2.98 trillion
- Mitsubishi UFJ Financial: USD 2.96 trillion
- BNP Paribas: USD 2.8 trillion
- Citigroup: USD 2.45 trillion
- Credit Agricole: USD 2.31 trillion
- Postal Savings Bank of China: USD 2.02 trillion
- Sumitomo Mitsui Financial: USD 2 trillion
- Mizuho Financial: USD 1.908 trillion
- Barclays: USD 1.902 trillion
- Santander: USD 1.90 trillion
- Bank of Communications: USD 1.89 trillion
- Goldman Sachs Group: USD 1.54 trillion
- Royal Bank of Canada: USD 1.45 trillion
- China Merchants Bank: USD 1.45 trillion
- TD Bank Group: USD 1.44 trillion
- Industrial Bank: USD 1.43 trillion
- Deutsche Bank: USD 1.41 trillion
- China Citic Bank: USD 1.27 trillion
- Morgan Stanley: USD 1.19 trillion
As you can see, the largest banks in the world include the top banks from the United States, China, the United Kingdom, Japan, France, Spain, Canada, Germany, and elsewhere.
These global financial institutions shape the banking industry and are systemically important to the global economy.
Not surprisingly, they include international banks offering diverse financial services. Additionally, these banks are catering to clients across the banking sector including individuals, small businesses, multinationals, and nation-states with a wide range of requirements in terms of both banking and financial services.
As major banks, they are responsible for an incredible amount of global assets, the number of employees, and economic output. The 25 leading banks that we highlight above represent combined total assets of USD 64.12 trillion.
Of course, this list of 25 leading banks is not the complete list. In fact, it isn’t even a complete list of banking giants with more than USD 1 trillion in total assets. However, it’s important to point out that in addition to assets, these are the most important banking leaders in the world as well.
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Frequently Asked Questions
Below are four of the most common questions we receive from people looking into the largest banks in the world. If you have further questions you would like to ask our team, don’t hesitate to get in touch.
Which Is the Largest Bank in the World?
The largest bank in the world is the Industrial and Commercial Bank of China with total assets of USD 6.12 trillion in 2023. This is an increase in the Industrial and Commercial Bank of China’s total assets from 2022 which were USD 5.74 trillion.
What Is the Largest Bank in the US?
The largest bank in the US is JP Morgan Chase with total assets of USD 3.74 trillion in 2023. This is an increase in JP Morgan Chase’s total assets from 2022 which were USD 3.66 trillion.
What Is the Most Powerful Bank in the World?
The most powerful bank in the world, as defined by the bank that is considered the most systemically important to the global financial system, is JP Morgan Chase. This is determined by the Financial Stability Board, which is part of the Basel Committee on Banking Supervision.
What Bank Is the Richest?
The bank that is considered the richest in terms of total assets is the Industrial and Commercial Bank of China with total assets of USD 6.12 trillion in 2023. However, JP Morgan Chase has a higher market value, of roughly USD 400 billion.
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