It’s no secret that the banking sector has undergone some major changes in recent years. In the aftermath of the 2008 global financial crisis, many banks have been forced to downsize or fold altogether. In this blog post, we take a look at the top 10 largest banks in the world in 2022. We’ll explore their history, size, and what they’re doing to stay ahead of the curve. So without further ado, let’s get started!
10. Postal Savings Bank Of China
Postal Savings Bank Of China’s Total Assets Value: $2 Trillion
Postal Savings Bank of China is one of the largest banks in the world with over $2 trillion in assets. The bank is state-owned and offers banking services to retail and corporate customers. The bank has over 19,000 branches across China and provides a range of banking products and services including deposits, loans, credit cards, foreign exchange, and wealth management.
The bank has been profitable for many years and is well-positioned to continue its growth in the future. In 2022, the bank plans to expand its branch network by 3,000 branches and increase its customer base by 10%. The bank will also continue to invest in technology to improve its online and mobile banking platforms.
Citigroup’s Total Assets Value: $2.4 Trillion
Citigroup was founded in 1812 and is the third oldest bank in the United States. The company is headquartered in New York City and has over 200 million customer accounts in more than 160 countries. Citigroup has over $1.8 trillion in assets and provides a broad range of financial services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
In 2022, Citigroup will continue to be a leading global bank with a strong focus on meeting the needs of its customers. The company will continue to invest in innovative technologies that will enable it to provide superior customer service and products. In addition, Citigroup will expand its footprint in emerging markets to tap into new growth opportunities.
8. China Merchants Bank
China Merchants Bank’s Total Assets Value: $1.4 Trillion
As one of the largest banks in the world, China Merchants Bank has a long history dating back to its founding in 1872. The bank has undergone many changes and developments over the years, including becoming a state-owned commercial bank in 1987. In recent years, the bank has been actively expanding its operations overseas and is now present in 15 countries and regions. The bank is also a leading player in the domestic market, with over 4,000 branches across China.
Looking ahead, China Merchants Bank is well-positioned to continue its growth trajectory in the coming years. The bank has ambitious plans to further expand its international footprint and increase its market share in China. In addition, the bank is investing heavily in digital capabilities and artificial intelligence-based solutions to better serve its customers. We expect that these efforts will help China Merchants Bank maintain its position as one of the top banks in the world in 2022.
7. Wells Fargo
Well Fargo’s Total Assets Value: $1.9 Trillion
Wells Fargo is a bank that has been in operation for over 150 years. The bank has its headquarters in San Francisco, California, and operates
in 42 states across the United States. In terms of assets, Well Fargo is the fourth-largest bank in the United States and the seventh-largest bank in the world. The bank has over $1.9 trillion in assets and employs approximately 265,000 people.
In recent years, Well Fargo has been embroiled in a number of scandals. In 2016, it was revealed that the bank had opened over 2 million fake accounts without customer consent. This led to a major drop in stock price and loss of trust from customers. The scandal also resulted in a number of high-level executives leaving the company.
Despite these setbacks, Well Fargo remains one of the largest banks in the world and is expected to continue to grow in the coming years. In 2022, thebank is projected to have assets of over $2 trillion and employ close to 300,000 people worldwide.
6. Bank of China
Bank Of China’s Total Assets Value: $4.2 Trillion
Bank of China is one of the oldest and largest banks in the world. It was founded in 1912 and has its headquarters in Beijing. The bank has over 2,000 branches and over 100,000 employees. It is a state-owned commercial bank and is one of the four biggest banks in China. The other three are Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank.
Bank of China provides a full range of banking services including deposits, loans, credit cards, foreign exchange, and money market operations. It also provides insurance products and investment banking services. The bank has been steadily growing its assets and profits in recent years. In 2020, it reported assets of $3 trillion and profits of $59 billion.
The bank has ambitious plans for 2022. It wants to increase its assets to $4 trillion and profits to $80 billion by then. It also plans to expand its international operations by setting up more branches overseas.
5. Bank Of America
Bank Of America’s Total Assets Value: $3.2 Trillion
Bank of America is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. It is the second-largest bank in the United States by assets and the fourth-largest bank in the world by market capitalization. As of 2022, Bank of America had total assets of $3.1 trillion and operations in more than 35 countries.
Bank of America provides a full range of banking, investing, asset management, and other financial and risk management products and services. The company serves clients through its operations in the United States and internationally. In the United States, the company operates through four main business segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Corporate & Investment Banking (CIB), and Merrill Lynch Wealth Management (MLWM).
In 2022, Bank of America’s total assets are expected to reach $4 trillion. The company is also expected to continue its expansion into new markets and product offerings.
4. Agricultural Bank Of China
Agricultural Bank Of China’s Total Assets Value: $4.6 Trillion
As one of the largest banks in the world, the Agricultural Bank of China (ABC) plays a significant role in the global economy. ABC has a strong presence in both developed and emerging markets, providing financing, investment, and other banking services to individuals, businesses, and governments. ABC is well-positioned to continue its growth in the coming years and is expected to be a key player in the global banking sector in 2022.
ABC was founded in 1951 and is headquartered in Beijing, China. ABC has over 24,000 branches across China and operates internationally in Hong Kong, Macau, Singapore, Taiwan, South Korea, Japan, Europe, the United States, Canada, and Africa. ABC offers a full range of banking products and services including deposits, loans, credit cards, foreign exchange, treasury management, and asset management. In 2017, ABC had total assets of US$3.2 trillion and ranked as the 11th largest bank in the world by assets.
Looking ahead to 2022, ABC is expected to maintain its strong growth trajectory thanks to continued economic expansion in China and other markets where it operates. In particular, ABC is well placed to benefit from China’s Belt and Road Initiative – a large-scale infrastructure development initiative that will boost trade and investment flows between China and other Asian countries. As part of this initiative, ABC has been active in financing projects related to Belt and Road Initiative countries. In addition to its strong fundamentals, ABC’s growth prospects are also supported by favorable government
3. China Construction Bank
China Construction Bank’s Total Assets Value: $4.7 Trillion
China Construction Bank (CCB) is one of the world’s largest banks with over $3 trillion in assets and nearly 23,000 branches. It is also one of China’s “big four” state-owned commercial banks. The bank was founded in 1954 and has since grown to become a leading financial institution in China.
In recent years, CCB has been actively expanding its overseas presence and now has branches in 38 countries and regions. The bank is also a major player in the Belt and Road Initiative, which aims to boost economic cooperation between China and other countries along the ancient Silk Road trade routes.
Looking ahead, CCB is well-positioned to capitalize on China’s continued economic growth and rising global influence. In particular, the bank is expected to play a key role in financing the country’s ambitious infrastructure plans. According to some estimates, CCB could lend up to $1 trillion to infrastructure projects over the next five years. This would be a huge boon for the bank’s bottom line, as well as for China’s economy as a whole.
2. JPMorgan Chase
JPMorgan Chase’s Total Assets Value: $4 Trillion
JPMorgan Chase is a leading global financial services firm with assets of $2.6 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management, and private equity.
In 2022, JPMorgan Chase will continue to be a leading player in the global financial services industry. The firm is well-positioned to capitalize on growth opportunities in the coming years. Here are some key developments to watch out for:
1. Continued growth in investment banking: JPMorgan Chase is one of the top global banks in terms of market share and fee income from investment banking activities. The firm’s strong franchise and reputation for executing complex transactions will enable it to continue growing its market share in this important business segment.
2. Expansion of consumer and small business banking: JPMorgan Chase is a leader in providing financial services to consumers and small businesses in the United States. The bank has invested heavily in branch expansion, digital capabilities, and product innovation over the past few years. These investments should start paying off in 2022, with higher loan growth and increased deposit balances.
3. Growth in commercial banking: JPMorgan Chase is one of the largest commercial banks in the United States, with a strong presence in key markets such as middle-market lending and real estate financing. The bank is well-positioned to benefit from continued economic growth and rising demand for loans from businesses of all sizes.
ICBC’s Total Assets Value: $5.5 Trillion
The Industrial and Commercial Bank of China (ICBC) is the largest bank in the world by total assets and by market capitalization. It is one of China’s “big four” state-owned commercial banks (the other three being the Bank of China, Agricultural Bank of China, and China Construction Bank). The ICBC was founded as a limited liability company on January 1, 1984. The bank was subsequently restructured into a joint-stock company on October 8, 2005. As of June 2017, it had 1011 domestic branches and 19 overseas branches. The ICBC has been active in developing new products and services to meet the needs of its customers. In particular, it has developed a number of online banking services that are popular with Chinese consumers.
ICBC has been working to expand its international presence in recent years. In 2010, it became the first Chinese bank to be granted a license to open a branch in South Africa. It has also established branches in Hong Kong, Macau, Taiwan, Japan, Korea, Singapore, Malaysia, Vietnam, the United Arab Emirates, Qatar, Kuwait, Brazil, Argentina, and the United States. The bank is planning to further expand its overseas operations in the coming years. The ICBC is also working on several major development projects in China. These include the construction of a new headquarters building in Beijing and the expansion of its branch network in rural areas of the country.
Source: Top 10 Largest Banks