15 largest banks in the world of 2022-According to the Annual Report data from each bank in 2022, there are 15 Largest banks in the world. Of course, they are the big bank in the world with billion US. Dollar of revenues and income annually. The assets of these bank spread over in many countries.
So far, in monetary system, banks are financial institutions which has significant role in maintaining the stability of the world economy. Functionally, this institution plays a role in absorbing excess funds from the community and give the funds to their users/ customers as capital loans for business activities and consumptive activities. So far, banks can be the bridge between the interests of people who have excess funds and people who need money. In addition, various banking products with various uniqueness are offered to consumers so that they have alternatives in managing finances.
Historically, since the time of Assyria and Babylonia era until now followed with various technological advances that have occurred, there are some of the biggest banks in the world. These banks certainly have large assets and huge of net income. From the financial report data / annual report in 2022, there are 15 Largest Banks in the World in 2022. This data came from the Annual Report / Annual Report of the Company in 2022.
The Rank of Bank is based on the financial positions and business performance. The rank of financial position can be observed from balance sheet of company. Meanwhile, the business performance of the company can be observed based on the income statement of the company.
The Rank 15 largest banks in the world based on Financial Position
| Rank | Name of Company | Assets | Assets | Liabilities | Liabilities |
|---|---|---|---|---|---|
| Origin Currency | US Dollar | Origin Currency | US Dollar | ||
| 1 | Industrial and Commercial Bank of China | 39,609 Billion RMB | 5,941 Billion US Dollar | 36,095 Billion RMB | 5,414 Billion US Dollar |
| 2 | China Construction Bank Corporation | 34,601 Billion RMB | 5,190 Billion US Dollar | 31,723 Billion RMB | 4,758 Billion US Dollar |
| 3 | Agricultural Bank of China | 33,927 Billion RMB | 5,089 Billion US Dollar | 31,253 Billion RMB | 4,687 Billion US Dollar |
| 4 | Bank of China | 28,913 Billion RMB | 4,336 Billion US Dollar | 26,346 Billion RMB | 3,951 Billion US Dollar |
| 5 | J.P. Morgan Chase | 3,665 Billion US Dollar | 3,665 Billion US Dollar | 3,373 Billion US Dolllar | 3,373 Billion US Dolllar |
| 6 | Bank of America (BAC) | 3,051 Billion US Dollar | 3,051 Billion US Dollar | 2,778 Billion US Dollar | 2,778 Billion US Dollar |
| 7 | HSBC Holdings PLC | 2,966 Billion US Dollar | 2,966 Billion US Dollar | 2,770 Billion US Dollar | 2,770 Billion US Dollar |
| 8 | Mitsubishi UFJ Financial Group (Mitsubishi) | 381,735 Billion Yen | 2,786 Billion US Dollar | 365,269 Billion Yen | 2,666 Billion US Dollar |
| 9 | BNP Paribas | 2,666 Billion Euro | 2,666 Billion US Dollar | 2,539 Billion Euro | 2,539 Billion US Dollar |
| 10 | Citigroup | 2,416 Billion US Dollar | 2,416 Billion US Dollar | 2,215 Billion US Dollar | 2,215 Billion US Dollar |
| 11 | Wells Fargo | 1,881 Billion US Dollar | 1,881 Billion US Dollar | 1,699 Billion US Dollar | 1,699 Billion US Dollar |
| 12 | Sumitomo Mitsui Banking Corporation | 252,567 Billion Yen | 1,843 Billion US Dollar | 242,832 Billion Yen | 1,772 Billion US Dollar |
| 13 | Mizuho Financial Group | 254,258 Billion Yen | 1,856 Billion US Dollar | 245,049 Billion Yen | 1,788 Billion US Dollar |
| 14 | Banco Santander | 1,734 Billion Euro | 1,734 Billion US Dollar | 1,637 Billion Euro | 1,637 Billion US Dollar |
| 15 | Japan Post Bank | 229,582 Billion Yen | 1,675 Billion US Dollar | 219,931 Billion Yen | 1,605 Billion US Dollar |
| Source : Annual report, 2022 | |||||
| Description : | |||||
| Origin Currency : Currency officially Used in Annual Report 2021 | |||||
| US Dollar = Currency from Origin Currency has been Converted into US Dollar | |||||
| Currency Rate : | |||||
| 1 Renminbi (RMB)= 0.15 US Dollar (USD) | |||||
| 1 Japanese Yen (JPY) = 0.0073 US dollar (USD) | |||||
| 1 Euro = 1 US Dollar (USD) | |||||
These data about the assets and liabilities above was obtained from the balance sheet of the annual report in 2022. The assets describe all physical and non-physical assets which the company has owned. Furthermore, Liabilities is about the obligation or financial debts that company must pay back in the futures. Its components include current liabilities and non-current liabilities. Company with bigger assets than liabilities commonly in good conditions to do business. They have huge of resource to do business without thinking about obligation to pay the debts.
The Rank 15 Largest Banks in The World based on Business Performance
| Rank | Name of Company | Revenue | Revenue | Net Income | Net Income |
|---|---|---|---|---|---|
| Origin Currency | US Dollar | Origin Currency | US Dollar | ||
| 1 | Industrial and Commercial Bank of China | 841 Billion RMB | 126 Billion US Dollar | 361 Billion RMB | 54 Billion US Dollar |
| 2 | China Construction Bank Corporation | 758 Billion RMB | 113.7 Billion US Dollar | 323 Billion RMB | 48 Billion US Dollar |
| 3 | Agricultural Bank of China | 725 Billion RMB | 108 Billion US Dollar | 258 Billion RMB | 38 Billion US Dollar |
| 4 | J.P. Morgan Chase | 128 Billion US Dollar | 128 Billion US Dollar | 37 Billion US Dollar | 37 Billion US Dollar |
| 5 | Bank of China | 619 Billion RMB | 92 Billion US Dollar | 237 Billion RMB | 35 Billion US Dollar |
| 6 | Bank of America (BAC) | 94.9 Billion US Dollar | 94.9 Billion US Dollar | 27.5 Billion US dollar | 27.5 Billion US dollar |
| 7 | HSBC Holdings PLC | 61.5 Billion US Dollar | 61.5 Billion US Dollar | 16.6 Billion US Dollar | 16.6 Billion US Dollar |
| 8 | Citigroup | 75.3 Billion US Dollar | 75.3 Billion US Dollar | 14.8 Billion US Dollar | 14.8 Billion US Dollar |
| 9 | Wells Fargo | 73.7 Billion US Dollar | 73.7 Billion US Dollar | 13.1 Billion US Dollar | 13.1 Billion US Dollar |
| 10 | Banco Santander | 52.1 Billion Euro | 52.1 Billion US Dollar | 10.7 Billion Euro | 10.7 Billion US Dollar |
| 11 | BNP Paribas | 47.6 Billion Euro | 47.6 Billion US Dollar | 10.5 Billion Euro | 10.5 Billion US Dollar |
| 12 | Sumitomo Mitsui Banking Corporation | 4,911 Billion Yen | 35 Billion US Dollar | 807 Billion Yen | 5.8 Billion US Dollar |
| 13 | Mitsubishi UFJ Financial Group (Mitsubishi) | 4,611 Billion Yen | 33.6 Billion US Dollar | 656 Billion Yen | 4.7 Billion US Dollar |
| 14 | Mizuho Financial Group | 5,778 Billion Yen | 42 Billion US Dollar | 560 Billion Yen | 4 Billion US Dollar |
| 15 | Japan Post Bank | 2,064 Billion Yen | 15 Billion US Dollar | 325 Billion Yen | 2.3 Billion US Dollar |
| Source : Annual report, 2022 | |||||
| Description : | |||||
| Origin Currency : Currency officially Used in Annual Report 2021 | |||||
| US Dollar = Currency from Origin Currency has been Converted into US Dollar | |||||
| Currency Rate : | |||||
| 1 Renminbi (RMB)= 0.15 US Dollar (USD) | |||||
| 1 Japanese Yen (JPY) = 0.0073 US dollar (USD) | |||||
| 1 Euro = 1 US Dollar (USD) | |||||
The data above about revenue and income came from Income statement of company. The revenue and income/loss that company was earned in specific time reflects the efficiency and effective of company in doing the business. The consistent of company in reaping the profit can be the indicators that companies has stability in doing business.
Brief Description of 15 largest banks in the world of 2022
1.Industrial and Commercial Bank of China
Industrial and Commercial Bank of China Ltd is China-based Bank found in Beijing in 1948. This Bank owned by Chinese Central Government with 70.82% of stake ownership. In 2022, this bank has gotten the biggest revenue and Net income than the other banks in the world. On 27 October 2006, the Bank was successfully listed on Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited. Financially, based on the annual report of ICBC in 2022, the bank has assets around 39,609 billion RMB/ 5,941 billion US Dollar and liabilities around 36,095 billion RMB/ 5,414 billion US Dollar. Based on the business performance in 2022, the company gained the revenue 841 billion RMB/ 126 billion US Dollarand successfully reaped net Income 361 billion RMB/ 54 billion US Dollar.
2.J.P. Morgan Chase
JPMorgan Chase & Co. become one of the biggest banks in United States of America and the World. This is one of America’s Big Four banks, besides Bank of America, Wells Fargo, and Citigroup. Operationally, this bank has primary office in New York City, New York. Historically, the establishment of J.P. Morgan Chase is the merger from several financial institution, namely Chase Manhattan Bank, J.P. Morgan & Co., Bank One, Bear Stearns and Washington Mutual. In 2022, based annual report, the company has assets around 3,665 billion US Dollar and liabilities around 3,373 billion US Dollar. Based on the business performance in 2022, this bank gained revenue of 128 billion US Dollar and Net Income around 37 billion US Dollar.
3.China Construction Bank Corporation
China Construction Bank Corporation (CCB) is another biggest bank in China and The World. Historically, it was founded in Beijing, China on 1 October 1954 and still has primary office in Beijing, China. Financially, in 2022, Based on Published Annual report by the Company, the company has assets around 34,601 billion RMB/ 5,190 billion US Dollar and liabilities around 31,723 billion RMB/ 4,758 billion US Dollar. Based on the business performance in 2022, the company gained the revenue around 758 billion RMB/ 113.7 billion US Dollar and reaped the net Income 323 billion RMB/ 48 billion US Dollar.
4.Agricultural Bank of China
Agricultural Bank of China (ABC), commonly known as AgBank, is one of the biggest banks from China. It was founded on July 10, 1951. Until now, this bank has primary office in Beijing, China. Financially, based on the annual report of Published company in 2022, the company has assets around 33,927 billion RMB/ 5,089 billion US Dollar with liabilities around liabilities 31,253 billion RMB/ 4,687 billion US Dollar. Based on the business performance in 2022, the company gained the revenue around 725 billion RMB/ 108 billion US Dollar and net income around 258 billion RMB/ 38 billion US Dollar.
5.Bank of China
Bank of China is one of the oldest and biggest banks in China. Historically, it was founded in Beijing, China in 1912 by Chen Jintao. Financially, the company has assets 28,913 billion RMB/ 4,336 billion US Dollar and liabilities around 26,346 billion RMB/ 3,951 billion US Dollar. Based on the business performance in 2022, the company gained revenue 619 billion RMB/ 92 billion US Dollar and net income around 237 billion RMB/ 35 billion US Dollar.
6.Bank of America
The Bank of America Corporation, simply known as Bank of America. in 1998, bank of America is formed as the merger between Bank America and Nations Bank. Operationally, this bank has two primary office Charlotte, North Carolina, U.S. (Corporate) and New York (Investment banking). Based on the financial position on Balance sheet in 2022, the company has assets around 3,051 billion US Dollar and liabilities around 2,778 billion US Dollar. Meanwhile, in 2022, the bank gained positive performance with gaining revenue 94.9 billion US Dollar and net Income around 27.5 billion US dollar.
7.Citigroup
Citigroup Inc. or Citi is one of biggest big four bank in the United States of America. Historically, this bank was formed on October 8, 1998, as the merger of Citicorp and Travelers Group to create the world’s largest financial services. Based on the financial position on balance sheet in 2021, this bank has assets around 2,416 billion US Dollar and liabilities around 2,215 billion US Dollar. Based on the business performance in 2022, the company gained revenue around 75.3 billion US Dollar and Net Income around 14.8 billion US Dollar.
8.Wells Fargo
Wells Fargo & Company is American-based Bank founded Henry Wells and William Fargo. This bank has central office in San Francisco, California, U.S., and New York. Financially, based on annual report 2021, the company has assets around 1,881 billion US Dollar and liabilities 1,699 billion US Dollar. Based on the business performance in 2022, the company has revenue around 73.7 billion US Dollar and net Income around 13.1 billion US Dollar.
9.HSBC Holdings PLC
This Bank is another biggest bank from Europe continent. This bank has primary office in Canada Square, London, England, UK. This company has assets around 2,966 billion US Dollar and liabilities around 2,770 billion US Dollar. Based on the business performance in 2022, the company gained the revenue around 61.5 billion US Dollar and net income around 16.6 billion US Dollar.
10.BNP Paribas
BNP Paribas S.A. is one of the biggest banks in the Europe from France. Historically, this bank was formed as the merger of Banque Nationale de Paris S.A. (BNP) and The Banque de Paris et des Pays-Bas S.A. (Bank of Paris and the Netherlands), or Paribas on May 2000. Until now, the company has central office in Boulevard des Italiens, Paris, France. Financially, based on the financial position on 2022, the company has assets 2,666 billion Euro / 2,666 billion US Dollar and liabilities around 2,539 billion Euro / 2,539 billion US Dollar. In terms of business performance in 2022, the company gained the revenue around 47.6 billion Euro / 47.6 billion US Dollar and net income around Net Income 10.5 billion Euro / 10.5 billion US Dollar.
11.Banco Santander
Banco Santander, S.A was founded on 15 May 1857. This Spanish Bank has primary office in Santander and Boadilla del Monte, Madrid. Financially, in 2022, the bank has assets around 1,734 billion Euro / 1,734 billion US Dollar and liabilities around 1,637 billion Euro / 1,637 billion US Dollar. Based on the business performance in 2022, the company gained the revenue around 52.1 billion Euro /52.1 billion US Dollar and Net Income around 10.7 billion Euro / 10.7 billion US Dollar.
12.Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation Group (SMBC Group). Operationally, this company has central office in in Yurakucho, Chiyoda, Tokyo, Japan. Historically, the establishment of the bank because of was the merger between The Sumitomo Bank and Sakura Bank in April 2001. Based on the financial position in 2022, the company has assets around 252,567 billion Yen / 1,843 billion US Dollar and liabilities around Liabilities 242,832 billion Yen / 1,772 billion US Dollar. Based on the business performance in 2022, the company gained the revenue around 4,911 billion Yen / 35 billion US Dollar and net income around 807 billion Yen / 5.8 billion US Dollar.
13.Mizuho Financial Group
Mizuho Financial Group, Inc. in another biggest bank from Japan. Historically, it was founded by the merger of Dai-Ichi Kangyo Bank, Fuji Bank, and the Industrial Bank of Japan in 2000. Operationally, this bank has primary office in Marunouchi, Chiyoda, Tokyo, Japan. Financially, in 2022, the company has assets around 254,258 billion Yen / 1,856 billion US Dollar and Liabilities around 245,049 billion Yen / 1,788 billion US Dollar. Based on the business performance in 2022, the company successfully gained the revenue 5,778 billion Yen / 42 billion US Dollar and Net Income around 560 billion Yen / 4 billion US Dollar.
14.Mitsubishi UFJ Financial Group
Mitsubishi UFJ Financial Group is one of the biggest from Japan. Historically, this bank was formed by the merger of UFJ Holdings with the Mitsubishi Tokyo Financial Group in 2005. Operationally, this bank has central office in Yurakucho, Chiyoda, Tokyo, Japan. Based on financial position in 2021, the company has assets around 381,735 billion Yen / 2,786 billion US Dollar and liabilities around 365,269 billion Yen / 2,666 billion US Dollar. Based on the business performance in 2022, the company generated revenue 4,611 billion Yen / 33.6 billion US Dollar and net income 656 billion Yen / 4.7 billion US Dollar.
15.Japan Post Bank
Japan Post Bank Co., Ltd has primary office in Chiyoda, Tokyo, Japan. Financially, the company has assets around 229,582 billion Yen / 1,675 billion US Dollar and liabilities around 219,931 billion Yen / 1,605 billion US Dollar. Based on the business performance in 2022, the company gained revenue around 2,046 billion Yen / 15 billion US Dollar or net income around 325 billion Yen / 2.3 billion US Dollar.
The Summary of World’s Largest Bank in 2022
Bibliography of 15 World’s Biggest Bank in 2022
Industrial and Commercial Bank of China. 2023. Annual Report 2022. Accessed via http://www.icbc-ltd.com/ICBCLtd/Investor%20Relations/Financial%20Information/Financial%20Reports/ on August 28th, 2023
China Construction Bank Corporation. 2023. Annual Report 2022. Accessed via http://www.ccb.com/en/investorv3/annualreports/annals.html?ptId=6&ctId=1 on August 28th, 2023
Agricultural Bank of China. 2023. Annual Report 2022. Accessed via https://www.abchina.com/en/investor-relations/performance-reports/annual-reports/ on August 28th, 2023
Bank of China. 2023. Annual Report 2022. Accessed via https://www.bankofchina.co.id/en-id/top/about-us/financial-report/annual-report.html on August 28th, 2023
J.P. Morgan Chase. 2022. Annual Report 2021. Accessed via on August 28th, 2023
Bank of America (BAC). 2023. Annual Report 2022. Accessed via https://investor.bankofamerica.com/annual-reports-and-proxy-statements on August 28th, 2023
HSBC Holdings PLC. 2023. Annual Report 2022. Accessed via https://www.hsbc.com/investors/results-and-announcements/annual-report on August 28th, 2023
Mitsubishi UFJ Financial Group (Mitsubishi). 2023. Annual Report 2022. Accessed via https://www.mufg.jp/english/ir/report/annual_report/index.html on August 28th, 2023
BNP Paribas.2023. Annual Report 2022. Accessed via https://invest.bnpparibas/en/search/reports/documents/financial-reports?s%5Bsubthemes%5D%5B%5D=18 on August 28th, 2023
Citigroup.2023. Annual Report 2022. Accessed via https://www.citigroup.com/citi/investor/annual-reports.html on August 28th, 2023
Wells Fargo.2023. Annual Report 2022. Accessed via https://www.wellsfargo.com/about/investor-relations/annual-reports/ on August 28th, 2023
Sumitomo Mitsui Banking Corporation.2023. Annual Report 2022. Accessed via https://www.sumitomocorp.com/en/jp/ir/financial/investors-guide/2021 on August 28th, 2023
Mizuho Financial Group.2023. Annual Report 2022. Accessed via https://www.mizuhogroup.com/investors/financial-information/annual on August 28th, 2023
Japan Post Bank.2023. Annual Report 2022. Accessed via https://www.jp-bank.japanpost.jp/en/ir/financial/en_ir_fnc_annualreport.html on August 28th, 2023
Banco Santander.2023. Annual Report 2022. Accessed via https://www.santander.com/en/shareholders-and-investors/financial-and-economic-information/annual-report on August 28th, 2023.
