50 largest banks in the world

The tenth biggest bank in the world is Crédit Agricole Group, a French-owned bank and one of the largest companies in France. It's the worlds. The world's ten largest banks are headquartered across Asia, Europe, and America. Which is the biggest bank in the world? The largest banks in Japan, Hong Kong, Australia, India, South Korea and IndusInd Bank, India, 49,604, 18.1, 29,059, 2.8, 377, 32,031, 24.1, 50, 5,946. 50 largest banks in the world

50 largest banks in the world -

Top investors BlackRock, Vanguard, State Street, PNB, EPF, GPIF, and KWAP all amongst lowest scoring

The world’s 50 largest banks and investors are driving deforestation through weak policies and major investments in commodities which are linked to tropical rainforest destruction, according to new research by Forests & Finance –– a coalition of research groups and civil society organizations from the United States, Indonesia, Netherlands, Brazil and Malaysia. The financial institutions were scored on their performance, with major international banks like Bank of America, Sumitomo Mitsui Banking Corporation (SMBC), Industrial and Commercial Bank of China (ICBC), and major investors such as BlackRock, Vanguard, and State Street, all coming out with low scores.

The newly redesigned Forests & Finance database shows that the policies of the 50+ financial institutions –– accounting for USD 128 billion in credit and underwriting to deforestation-linked commodities from 2016 – 2020 and USD 28 billion in investment as of April 2021 –– are collectively very weak, with an average score of 2.4 out of a possible 10. This indicates that the majority of financing to the different commodities driving deforestation (beef, palm oil, pulp and paper, rubber, soy and timber) is not subject to even basic desk-based social, environmental or governance checks, much less actual verification of client standards. 

“Protecting the world’s tropical forests has quite literally never been more important to all life on Earth,” said Merel van der Mark, Coordinator for the Forests & Finance coalition. “And yet, these financial institutions are all but writing a blank check to the companies driving forest destruction and human rights abuses. Instead of giving these companies carte blanche to destroy forests, financial institutions have to be able to identify, assess and manage these risks in their portfolios.”

“Blackrock, the world’s largest asset manager, provides a huge amount of capital to the companies that are driving deforestation and undermining Indigenous rights, to the tune of USD 2 billion. That’s an increase of 157% compared to April of last year, during a time when Earth defenders’ lives are increasingly under attack and deforestation continues to skyrocket. Blackrock needs to take decisive action to stop funding forest destruction, biodiversity loss, and Indigenous rights abuses, particularly in sensitive biomes such as the Amazon,” said Moira Birss, Climate and Finance Director with Amazon Watch.

“All of the top five largest investors in deforestation-linked companies in Southeast Asia scored very low in our assessment,” said Meenakshi Raman, President of Sahabat Alam Malaysia. “We need investors to take responsibility for their investments and fund a thriving future for Southeast Asia, instead of its destruction.”

“Indonesian banks, while still scoring very low, showed some improvement in our assessment since 2018,” said Edisutrisno, Executive Director of TuK Indonesia. “This positive improvement is the right course for Indonesia’s banks and must only improve from here.” 

“While still scoring low on its policy, BNDES, the largest investor in forest-risk commodities in South America, has lowered its exposure to forest-risk commodity companies operating in South America over the past year. On the other hand, the other top five investors –– BlackRock, Fidelity Investments, Vanguard and GPIF –– all increased their exposure. All of these companies scored very low. There is still significant investment flowing into the deforestation of the Amazon, with little effort by financial institutions to stop it,” said Marcel Gomes, Executive Director of Repórter Brasil.

Studies indicate that the destruction of forest ecosystems correlates with the emergence of new zoonotic diseases like the coronavirus, meaning that stopping deforestation could be crucial for preventing future pandemics. And yet, in 2020 alone, 12.2 million hectares of tropical forests were lost. The assessment found that financial institutions increased their investments in deforestation in the same period. Compared to 2020, the total value of investments in forest-risk commodity companies has increased from USD 37.2 billion in 2020 (April) to USD 45.3 billion in 2021 (April).
The assessment analyzed the publicly available policies of around 50 of the world’s largest banks and investors against 35 Environmental, Social and Governance (ESG) criteria, and combined that with data calculated by using the financing and investment information available on the Forests & Finance database (covering the period January 2016 – April 2020 for credit data, and April 2021 for investment data). Each bank or investor was ranked on their policies as well as their forest-risk commodity financing to calculate the overall score for the financial institution.

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Источник: https://forestsandfinance.org/news/worlds-50-largest-banks-and-investors-driving-deforestation-through-weak-policies-and-major-investments-new-study-finds/

Here is a list of the largest banks in the United States by assets in 2021

  • JPMorgan Chase is the top largest bank in the US, with a balance sheet total of $2.87 trillion.
  • Insider Intelligence broke down the top 10 banks in the US by assets, with key insights as to how they got there, where they plan to go in the future, and how smaller banks can compete in the industry. 
  • Do you work in the Financial Services industry? Get business insights on the latest industry trends, companies, and technologies with data-driven market research & forecasts.

The Federal Reserve has rolled out a list of top US banks by assets, and we’ve broken down exactly how these financial service giants manage to stay ahead of the competition. For decades, banks have been merging, partnering, and expanding—so much so that the top four banks now account for 50% of all US banking assets.

What else do the top four have in common? In addition to having more than a trillion dollars in consolidated domestic assets, JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup each invested big on technology. With COVID-19 has accelerating demand for efficient mobile banking apps and payment systems, the banks hastened tech spending to compete with neobanks and other fintechs. The incumbents’ shift towards digital strategy could give them the edge in appeasing customers at all levels of tech comfort, from traditional to early adopters. Here, they prove that the shift is no longer complementary, but crucial. 

These  are the top 10 banks in the US by assets, with key insights as to how they got there, where they plan to go in the future, and how smaller banks can compete in the industry. 

1. JPMorgan Chase – $2.87 Trillion

By targeting digitally-savvy consumers and introducing artificial intelligence to its offerings, JPMorgan Chase has been able to outperform its competitors. JPMorgan is playing the long-game by acquiring millennials through digital channels—and hopes to convert them to higher-value customers later on.

Additionally, JPMorgan is investing heavily in banking technology, and boasts the biggest tech budget of all banks in 2019 with $11.4 billion. A key focus of these funds is identifying use cases to implement artificial intelligence, such as enabling investment banking clients to access analyst reports and stock exchange information through voice assistants. In fact, Chase’s digital leads are even looking outside the financial industry to stay ahead. “We’re watching Big Tech,” says Allison Beer, the company’s chief product officer, head of customer experience and digital. “It may be totally unrelated to financial services.”

Chase's mobile banking strategy is key to its growth as a top US bank.  - Insider Intelligence

2. Bank of America – $2.16 Trillion

Bank of America has been able to cut costs and appeal to young users by adapting strategies for the digital age. The bank’s digitized branches–which allow customers to access contactless ATMs and connect with call centers via video-conference technology–experienced half the traffic of nearby branches only five months after launching in 2017. 

Since officially launching in 2017, Erica has surpassed a massive 7 million users per year.  - Android Community

Bank of America’s digital-only services have also re-defined what the company offers its customers. Its voice-enabled assistant, Erica, provides customers the ability to conduct peer-to-peer payments as well as bill payments. Since officially launching in 2017, Erica has surpassed 15 million users. Digital payments network Zelle allows users to digitally send real-time payments to friends and family. By integrating this feature into its mobile app, Bank of America has opened the door for increased consumer engagement.Among the new financial service products to launch this year, Bank of America released a business-to-consumer (B2C) payout solution that gives users greater flexibility with payments; a new credit card meant for business travellers; and a new cash rewards credit card tied to a rewards program. 

Like what you’re reading? Click here to learn more about Insider Intelligence’s leading Financial Services research.

3. Wells Fargo & Co. – $1.75 Trillion

Wells Fargo is following the lead of top competitors by targeting millennials through mobile financial services. Pay with Wells Fargo is a mobile service where users can access their most used payment features before signing into the app. Additionally, Wells Fargo’s app Greenhouse helps customers simplify their bills and track spending. 

Over the last year, Wells Fargo has been optimizing its business to focus on sectors with strong revenue-generating potential, like credit cards. Going up against its competitors, Wells Fargo announced a new suite of Visa credit cards, representing a direct challenge to a joint card from PayPal, and Synchrony Financial, along with Citigroup’s Double Cash, per Bloomberg.Joining the contactless payment market has also bolstered Wells Fargo’s position as a leading bank—especially amid the pandemic. With 78% of the top 100 US merchants accepting contactless transactions, providing contactless credit and debit cards helps attract users who prefer digital banking methods—and according to Insider Intelligence, 44% of US consumers prefer contactless payments.

4. Citigroup – $1.65 Trillion

For four years in a row, Citibank has been named the “Best Bank for High-Net-Worth Families” by Kiplinger’s Personal Finance. For customers that maintain $200,000 in deposit, retirement, and investment accounts, the bank grants them access to its Citigold Package.

Insider Intelligence’s Mobile Banking Competitive Edge Study also shows that Citi took the top spot for digital money management tools, as rated by consumers. By providing five of the category’s seven in-platform features, including the ability to view recurring charges and see a financial wellness score, Citi has secured its spot as one of the best banks in US.

As for the future of growth, it’s all about ensuring “that every product we deliver at Citi is digital first,” says Michael Naggar, chief digital officer of Citibank’s US consumer bank. “Today, digital means taking transactions out of the call center and branch and digitizing them. But our goal is connecting analog and digital so that people can’t see where one ends and the other begins.” 

Now, due to rising interest from its customers, Citigroup is looking into launching crypto services, such as financing, trading, and custody. 

5. U.S. Bancorp – $530.50 Billion

U.S. Bancorp, the parent company of U.S. Bank National Association, earned a spot on the list of top US banks due to its commitment to competing with tech giants making their way into the banking industry.  

With Facebook, Amazon, Apple, and Google all announcing their desire to launch financial services, U.S. Bancorp decided to improve its own technology. Terry Dolan, the company’s chief financial officer, said that the bank plans to partner with fintechs inorder to maintain competitive banking technology. 

6. Truist Financial Corporation – $488.02 Billion

A newcomer to the top ten, Truist is the bank formed by Branch Banking and Trust Company (BB&T) and SunTrust at the end of 2019. According to the Federal Reserve’s 2019 figures, BB&T and SunTrust were ranked 11th and 12th in bank assets, respectively.

Now operating over 2,000 branches in 15 states and Washington, D.C., the combined bank offers consumer and commercial banking, asset management, securities brokerage, mortgage, and insurance products and financial services.

7. PNC Financial Services – $457.45 Billion

PNC Bank is known as a top bank in the US because it offers specialized perks and services to customers while developing original products. In 2017 PNC began offering mobile payment options to corporate clients who hold Visa commercial cards—allowing them to leverage popular mobile wallets like Apple Pay.

Additionally, in 2019 PNC piloted credit cards with card verification values that periodically refresh, in the hopes of combating fraud. Fraudsters are able to guess three-digit CVV codes relatively easily due to the limited number of permutations; but periodically changing CVVs makes stolen data less valuable.

Most recently, PNC responded to the rise in digital banking by rolling out hybrid branches called solution centers—housing self-serve tools such as video teller machines, ATMs, and mobile workstations while in-person staff assist with more complex needs. The hybrid approach is a strong tactic that aligns well with consumer preferences. For example, a 2020 KPMG survey showed that once the pandemic eases, customers would be less likely to visit branches to manage accounts (6%) or check balances (8%).

8. TD Bank – $388.34 Billion

In addition to having extensive influence abroad, TD Bank has become one of the largest banks in the US due to its integration of artificial intelligence and utilization of digital technology. 

“America’s most convenient bank”, as they tout,  partnered with KAI Consumer Banking to launch Clari, an AI-powered chatbot, in Canada. Clari answers customers’ questions via text message and notifies them when credit card payments are due or how much they spent at a certain store. Chatbots cut down on call volume, and Clari’s success in Canada will likely influence TD Bank to develop a chatbot for its US branches. 

In another partnership, the company teamed up with fintech provider Amount to leverage its digital lending technology, which comes with a suite of tools including fraud detection and account verification. 

9. Capital One – $360.26 Billion

Capital One managed to make the list of top US banks, likely due to its ongoing commitment to digital transformation. Capital One increased its technology staff from 2,500 in 2011 to 9,000 in 2019, helping launch Eno–its AI-powered chatbot, similar to Bank of America’s Erica. 

Despite its major data breach in mid-2019, the bank also came first on our Banking Digital Trust Report, where it was the frontrunner on all six pillars of trust: security, privacy, reputation, reliability, ease of use, and feature breadth. Capital One’s high scores likely stemmed from its recent large-scale cloud migration, which has improved service continuity and facilitated upgrades, as well as reinforced security protocols that helped rebound customer perceptions. 

Capital One also acquired fintech United Income in 2019, a digital platform that offers wealth management services for people moving into retirement. The fintech combines both technological capabilities with human facets, like providing access to a team of wealth managers—making it attractive for consumers who still desire human interaction. 

10. Bank of New York Mellon Corp. – $349.43 Billion

Bank of New York Mellon, commonly known as BNY Mellon, is an investment banking services holding company and one of the oldest banking corporations in the United States. Formed from the 2007 merger of The Bank of New York and the Mellon Financial Corporation, BNY Mellon offers corporate and individual investment services, as well as private banking services for wealthy clients.

How can small banks compete?

Chime Co-founders Chris Britt and Ryan King  - Chime

Neobanks secured a record $2.5 billion globally. Chime, a San Francisco-based neobank, took about four years to reach one million users in 2018. It has since acquired over 4 million users—quadrupling its user base in just one year. The competition put forward by digital-only banks will eventually force traditional banking leaders to revamp their banking practices and offerings due to the increasing digital demands of consumers.

Источник: https://www.insiderintelligence.com/insights/largest-banks-us-list/

Top 50 Banks in The Middle East

Banking and finance is a vital sector for global economies. It is through banks that governments control monetary policy and inflation, and inject stimulus into the markets. When the pandemic hit last year, banks made sure that economies stayed afloat by using measures like postponing loan payments, restructuring debt, and lending to key sectors. These measures helped cushion the economic downturn.

As of June 6, 2021, the banks that feature on Forbes Middle East’s list of the “Top 50 Banks In The Middle East” had a total value of $513.6 billion and assets worth $2.5 trillion. That is more than three times the GDP estimate of Saudi Arabia, the region’s largest economy.

Three of the top four banks and five of the top 10 banks have achieved their scale due to mergers. The region’s banking industry is in the midst of a consolidation phase, where some of the largest banks are merging to create larger banking groups. By doing this, banks reduce competition and increase their expertise. In 2019, ADCB merged with Union National Bank and Al Hilal Bank to form the ADCB Group, which is the UAE’s third largest bank. In 2020, Dubai Islamic Bank, which was already the largest Islamic bank in the Emirates, merged with Noor Bank. And in March 2021, Saudi’s National Commercial Bank announced a merger with Samba, which will create one of the most valuable banks in the region.

With 10 entries each, Saudi Arabia the U.A.E. have the most banks on the list, followed by Qatar with eight, and Kuwait with six.

Источник: https://www.forbesmiddleeast.com/lists/top-50-banks-in-the-middle-east/

World's largest banks lagging in sustainable finance: report

WASHINGTON (Reuters) - Despite pressure from activists, investors and governments, the majority of world’s 50 largest banks have not made sustainable finance commitments to respond to the risks of climate change and continue to finance fossil fuels, according to new findings by the World Resources Institute released on Thursday.

Washington-based WRI unveiled its new Green Target Tool, which analyzes and compares the world’s 50 largest private banks’ public commitments to address climate and found that as of July, only 23 of the world’s 50 largest private banks made commitments to finance projects for sustainable energy.

Among those 23 banks with commitments, the average annual level of fossil fuel finance between 2016 and 2018 is nearly twice the annualized amount of sustainable finance commitments. Only seven banks had annualized sustainable finance targets greater than the amount of finance they provide for fossil fuel-related transactions.

“If banks are serious about sustainability and stepping up to address the climate change challenge, we would expect to see a shift in how their sustainable finance commitments compare with their fossil fuel finance,” said Giulia Christianson, head of sustainable investing at WRI.

“For now, most banks’ annualized commitments are considerably less than what they provide to fossil fuels on an annual basis.”

Banks have been making sustainable finance commitments for more than a decade but the number of announcements increased in the lead up to the Paris Climate Change summit in 2015 and continues to rise steadily.

Under pressure from investors, regulators and climate activists, some big banks have acknowledged the role lenders will need to play in a rapid transition to a low-carbon economy.

Less than less half of the banks with commitments have a common, transparent accounting methodology to report on their progress, Christianson said.

In the lead up to the United Nations Climate Action Summit last week, a number of banks including ABN Amro ABNd.AS and Amalgamated Bank AMAL.O announced they will adopt measures to improve the transparency of their investments to measure their responses to climate change.

Another group of over 130 banks including Deutsche Bank DBKGn.DE, Citigroup C.N and Barclays announced they would adopt United Nations-backed principles for responsible banking aimed at pushing companies and governments to act quickly to avert catastrophic global warming.

“We think there is a need for banks to increase their ambition and be a part of the climate change solution and make sure they are designing bold and transparent commitments,” Christianson said.

Источник: https://www.reuters.com/article/uk-climate-change-banks-idUKKBN1WI08O

Europe's 50 largest banks by assets, 2021

In a year marked by the COVID-19 pandemic, the largest Chinese financial institutions maintained their positions as the world's biggest banks by assets, S&P Global Market Intelligence's annual global bank ranking shows.

China's "Big Four"  Industrial & Commercial Bank of China Ltd., China Construction Bank Corp., Agricultural Bank of China Ltd. and Bank of China Ltd. — all held their top spots in 2021 as the four largest in the globe. Together, they reported a combined asset value of $17.321 trillion, up 16.88% from the 2020 ranking.

Driven by strong credit growth in 2020, the combined assets of all 19 Chinese banks on the top-100 list grew 17.66% for the period, 10 of which moved up the ranks. Total outstanding yuan loans at Chinese financial institutions reached a fresh record as of 2020-end, up 12.82% from a year earlier, as China pulled ahead of other major economies in recovering from the pandemic while pivoting toward technological self-reliance and net-zero emissions.

The top five institutions in the ranking, which include Japanese Mitsubishi UFJ Financial Group Inc. at No. 5, remained unchanged from the year before. The Tokyo-based giant held assets at $3.408 trillion, up 17.80%.

For the latest ranking, company assets were adjusted on a best-efforts basis for pending mergers, acquisitions and divestitures, as well as M&A deals that closed after the end of the reporting period through March 31. Assets reported by non-U.S. dollar filers were converted to dollars using period-end exchange rates. Total assets were taken on an "as-reported" basis and no adjustments are made to account for differing accounting standards. The majority of the banks were ranked by total assets as of Dec. 31, 2020. In the previous ranking published April 7, 2020, most company assets were as of Dec. 31, 2019, and were adjusted for pending and completed M&A as of March 31, 2020.

Among the most notable movements this year, U.S.-based JPMorgan Chase & Co. reclaimed its place as the world's sixth-largest financial institution. The biggest bank in the United States overtook U.K.-based HSBC Holdings PLC after reporting a 26.00% yearly increase in assets by the end of 2020, up to $3.386 trillion. The London-based institution, by contrast, dropped to the No. 8 spot with assets of $2.984 trillion. French BNP Paribas SA also made substantial progress by advancing two spots to become the world's No. 7. The Paris-based corporation saw its assets rise to $3.080 trillion as of 2020-end, up 26.80%.

Also in France, the postal service La Poste SA's banking unit, La Banque Postale SA, leapfrogged the greatest number of banks on the ranking. The company jumped 47 spots in 2020 from No. 89 to No. 42, with assets increasing by nearly $600.0 billion to $901.74 billion. The bank inked an agreement in 2020 to merge its fixed income and insurance-related asset management businesses with Natixis SA. It has also acquired Groupama Group's 35% stake in joint venture La Banque Postale IARD, whereas earlier in the year it had gained clearance to takeover CNP Assurances SA and become its majority shareholder.

Spanish bank CaixaBank also was among the meteoric performers on the list, advancing from No. 65 to No. 45 bolstered by its merger deal with Bankia SA.

Conversely, Brazilian major players Banco Bradesco SA and Banco do Brasil SA showed the greatest slides in the ranking. State-controlled Banco do Brasil fell 15 spots to No. 92, with $326.16 billion in assets, whereas Bradesco dropped 18 spots to No. 97, with $308.99 billion in assets. A sharp depreciation in the Brazilian real, which was among the most battered emerging market currencies, accounted for the swift repricing of assets when measured in U.S. dollar terms. The Brazilian real lost 29.21% of its value in 2020 against the dollar.

Seven out of the twelve U.S. banks on the list showed an improvement in rankings this year. But while the largest player in the country, JPMorgan Chase Co., advanced to reclaim its No. 6 position, it would have ranked even higher, at No. 4, had it reported in IFRS instead of U.S. GAAP. Under IFRS, the gross value of derivatives is reported while U.S. GAAP requires the net value to be reflected. Had this been the case, JPMorgan would have taken a place at the top tier, breaking the dominance of China's "Big Four." Along similar lines, Bank of America Corp. would have ranked No. 7 instead of No. 9 under IFRS reporting.

SNL Image

This year's ranking includes two newcomers to the list: U.S.-based State Street Corp. which took the No. 94 spot with $314.71 billion in assets, and Canadian Desjardins Group, which landed on the No. 99 spot with $284.13 billion in assets at the end of 2020.

Previous 2019 entrant Raiffeisen Gruppe Switzerland managed to retain its place among the biggest lenders, coming in at No. 98 with $293.48 billion in assets. Spanish Banco de Sabadell SA, on the contrary, and Brazilian Caixa Econômica Federal, dropped off the list this year.

China continues to house the greatest number of top 100 banks, with 19 institutions collectively holding assets worth $30.458 trillion. The so-called "Big Four" account for more than half of that total value. The U.S. banks follow, with 12 institutions holding a combined asset size of $15.538 trillion.

Despite the fact that the pandemic struck the industry hard, the number of banks in the world which have reported an asset size above $1 trillion has increased from 29 to 39 in 2020.

Amended at 3:05 a.m. ET on April 15 to update the combined assets of 19 Chinese banks on the list.

This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.

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Источник: https://www.spglobal.com/marketintelligence/en/news-insights/research/the-worlds-100-largest-banks-2021

Four of the five biggest banks on the planet are Chinese—and that’s worrisome

In a new ranking of the world’s biggest banks, Chinese institutions have grabbed four out of five of the top berths. The list, created by SNL Financial, is based on total assets. The bank at the top, Industrial & Commercial Bank of China, boasts $3.5 trillion in assets—a loan book worth more than Britain’s annual output, as CNN notes.

Don’t buy the argument that this is yet more proof of China’s gathering economic clout. For starters, it’s not surprising that Chinese banks loan a lot more than everyone else. China, obviously, is huge. But more importantly, banks are the engine of credit driving the Chinese economy, generating more than three-quarters of its total financing.

What’s really worrisome is that the Chinese banking sector’s swelling assets aren’t a sign of the banks’ commercial prowess. Instead, they hint at deep, systemic problems that have put the Chinese economy at risk for a long, painful stagnation.

It’s no coincidence that all four banks in the top five—ICBC, China Construction Bank, Agricultural Bank of China, and Bank of China—are state-owned. They dominate the collection of deposits, as well as having privileged access to equity markets. This setup has long allowed the Chinese government to channel funding to state-owned or state-affiliated companies, which then invest in projects that align with the government’s political and economic priorities.

One such priority was avoiding the effects of the global financial crisis. While other countries funded fiscal stimulus packages through deficit spending—bonds and such—much of the Chinese government’s 4-trillion-yuan ($586 billion) stimulus went through banks. This chart compares asset growth among the Chinese and non-Chinese banks on SNL Financial’s list:

The price of the Chinese government’s unusual control over its economy is debt—including the bank loans that helped rocket China’s bank to the top of the SNL list. All told, China’s country’s banks now have nearly 88.8 trillion yuan in outstanding loans—around 50% more than its GDP.

As the economy slows, their vulnerability to default rises. That’s not just because ebbing growth makes it harder for their customers to make money; in addition, desperate firms are more likely to take big financial risks.

The Chinese government vows to keep growth aloft.  Paradoxically, this makes a recovery less likely, as we recently explored. The hope that growth will pick up encourages banks to roll over loans for customers that can’t pay them back. The more credit that goes to these insolvent “zombie” companies, the less there is for entrepreneurs who need loans to build their businesses. Profits, meanwhile, go back into paying off interest, not investing in new factories or hiring new workers. Prices fall as demand withers, which in turn makes that debt outstanding more expensive—and therefore even tougher to pay off. And so the cycle continues.

The problem for Chinese banks is that the government still depends way too much on banks to power growth. They have to keep lending. That means Chinese banks will keep topping the charts for along while yet to come—and the longer they do, the more worried we should be.

Источник: https://qz.com/472728/four-of-the-five-biggest-banks-on-the-planet-are-chinese-and-thats-worrisome/

Here is a list of the largest banks in the United States by assets in 2021

  • JPMorgan Chase is the top largest bank in the US, with a balance sheet total of $2.87 trillion.
  • Insider Intelligence broke down the top 10 banks in the US by assets, with key insights as to how they got there, where they plan to go in the future, and how smaller banks can compete in the industry. 
  • Do you work in the Financial Services industry? Get business insights on the latest industry trends, companies, and technologies with data-driven market research & forecasts.

The Federal Reserve has rolled out a list of top US banks by assets, and we’ve broken down exactly how these financial service giants manage to stay ahead of the competition. For decades, banks have been merging, partnering, and expanding—so much so that the top four banks now account for 50% of all US banking assets.

What else do the top four have in common? In addition to having more than a trillion dollars in consolidated domestic assets, JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup each invested big on technology. With COVID-19 has accelerating demand for efficient mobile banking apps and payment systems, the banks hastened tech spending to compete with neobanks and other fintechs. The incumbents’ shift towards digital strategy could give them the edge in appeasing customers at all levels of tech comfort, from traditional to early adopters. Here, they prove that the shift is no longer complementary, but crucial. 

These  are the top 10 banks in the US by assets, with key insights as to how they daisy red ryder bb gun oil there, where they plan to go in the future, and how smaller banks can compete in the industry. 

1. JPMorgan Chase – $2.87 Trillion

By targeting digitally-savvy consumers and introducing artificial intelligence to its offerings, JPMorgan Chase has 50 largest banks in the world able to outperform its competitors. JPMorgan is playing the long-game by acquiring millennials through digital channels—and hopes to convert them to higher-value customers later on.

Additionally, JPMorgan is investing heavily in banking td bank corporate number, and boasts the biggest tech budget of all banks in 2019 with $11.4 billion. A key focus of these funds is identifying use cases to implement artificial intelligence, such as enabling investment banking clients to access analyst reports and stock exchange information through voice assistants. In fact, Chase’s digital leads are even looking outside the financial industry 50 largest banks in the world stay ahead. “We’re watching Big Tech,” says Allison Beer, the company’s chief product officer, head of customer experience and homes for sale in berkeley charlotte nc. “It may be totally unrelated to financial services.”

Chase's mobile banking strategy is key to its growth as a top US bank. - Insider Intelligence

2. Bank of America – $2.16 Trillion

Bank of America has been able to cut costs and appeal to young users by adapting strategies for the digital age. The bank’s digitized branches–which allow customers to access contactless ATMs and connect with call centers via video-conference technology–experienced half the traffic of nearby branches only five months after launching in 2017. 

Since officially launching in 2017, Erica has surpassed a massive 7 million users per year. - Android Community

Bank of America’s digital-only services have also re-defined what the company offers its customers. Its voice-enabled assistant, Erica, provides customers the ability to conduct peer-to-peer 50 largest banks in the world as well as bill payments. Since officially launching in 2017, Erica has surpassed 15 million users. Digital payments network Zelle allows users to digitally send real-time payments to friends and family. By integrating this feature into its mobile app, Bank of America has opened the door for increased consumer engagement.Among the new financial service products to launch this year, Bank of America released a business-to-consumer (B2C) payout solution that gives users greater flexibility with payments; a new credit card meant for business travellers; and a new cash rewards credit card tied to a rewards program. 

Like what you’re reading? Click here to learn more about Insider Intelligence’s leading Financial Services research.

3. Wells Fargo & Co. – $1.75 Trillion

Wells Fargo is following the lead of top competitors by targeting millennials through mobile financial services. Pay with Wells Fargo is a mobile service where users can access their most used payment features before signing into the app. Additionally, Wells Fargo’s app Greenhouse helps customers simplify their bills and track spending. 

Over the last year, Wells Fargo has been optimizing its business to focus on sectors with strong revenue-generating potential, like credit cards. Going up against its competitors, Wells Fargo announced a new suite of Visa credit cards, representing a direct challenge to a joint card from PayPal, and Synchrony Financial, along with Citigroup’s Double Cash, per Bloomberg.Joining the contactless payment market has also bolstered Wells Fargo’s position as a leading bank—especially amid the pandemic. With 78% of the top 100 US merchants accepting contactless transactions, providing contactless credit and debit cards helps attract users who prefer digital banking methods—and according to Insider Intelligence, 44% of US consumers prefer contactless payments.

4. Citigroup – $1.65 Trillion

For four years in a row, Citibank has been named the “Best Bank for High-Net-Worth Families” by Kiplinger’s Personal Finance. For customers that maintain $200,000 in deposit, retirement, and investment accounts, the bank grants them access to its Citigold Package.

Insider Intelligence’s Mobile Banking Competitive Edge Study also shows that Citi took the top spot for digital money management tools, as rated by consumers. By providing five of the category’s seven in-platform features, including the ability to view recurring charges and see a financial wellness score, Citi has secured its spot as one of the best banks in US.

As for the future of growth, it’s all about ensuring “that every product we deliver at Citi is digital first,” says Michael Naggar, chief digital officer of Citibank’s US consumer bank. “Today, digital means taking transactions out of the call center and branch and digitizing them. But our goal is connecting analog and digital so that people can’t see where one ends and the other begins.” 

Now, due to rising interest from its customers, Citigroup is looking into launching crypto services, such as financing, trading, and custody. 

5. U.S. Bancorp – $530.50 Billion

U.S. Bancorp, the parent company of U.S. Bank National Association, earned a spot on the list of top US banks due to its commitment to competing with tech giants making their way into the banking industry.  

With Facebook, Amazon, Apple, and Google all announcing their desire to launch financial services, U.S. Bancorp decided to improve its own technology. Terry Dolan, the company’s chief financial officer, said that the bank plans to partner with fintechs inorder to maintain competitive banking technology. 

6. Truist Financial Corporation – $488.02 Billion

A newcomer to the top ten, Truist is the bank formed by Branch Banking and Trust Company (BB&T) and SunTrust at the end of 2019. According to the Federal Reserve’s 2019 figures, BB&T and SunTrust were ranked 11th and 12th in bank assets, respectively.

Now operating over 2,000 branches in 15 states and Washington, D.C., the combined bank offers consumer and commercial banking, asset management, securities brokerage, mortgage, and insurance products and financial services.

7. PNC Financial Services – $457.45 Billion

PNC Bank is known as a top bank in the US because it offers specialized perks and services to customers while developing original products. In 2017 PNC began offering mobile payment options to corporate clients who hold Visa commercial cards—allowing them to leverage popular mobile wallets like Apple Pay.

Additionally, in 2019 PNC piloted credit cards with card verification values that periodically refresh, in the hopes of combating fraud. Fraudsters are able to guess three-digit CVV codes relatively easily due to the limited number of permutations; but periodically changing CVVs makes stolen data less valuable.

Most recently, PNC responded to the rise in digital banking by rolling out hybrid branches called solution centers—housing self-serve tools such as video teller machines, ATMs, and mobile workstations while in-person staff assist with more complex needs. The hybrid approach is a strong tactic that aligns well with consumer preferences. For example, a 2020 KPMG survey showed that once the pandemic eases, customers would be less likely to visit branches to manage accounts (6%) or check balances (8%).

8. TD Bank – $388.34 Billion

In addition to having extensive influence abroad, TD Bank has become one of the largest banks in the US due to its integration of artificial intelligence and utilization of digital technology. 

“America’s most convenient bank”, as they tout,  partnered with KAI Consumer Banking to launch Clari, an AI-powered chatbot, in Canada. Clari answers customers’ questions via text message and notifies them when credit card payments are due or how much they spent at a certain store. Chatbots cut down on call volume, and Clari’s success in Canada will likely influence TD Bank to develop a chatbot for its US branches. 

In another partnership, the company teamed up with fintech provider Amount to leverage its digital lending technology, which comes with a suite of tools including fraud detection and account verification. 

9. Capital One – $360.26 Billion

Capital One managed to make the list of top US banks, likely due to its ongoing commitment to digital transformation. Capital One increased its technology staff from 2,500 in 2011 to 9,000 in 2019, helping launch Eno–its AI-powered chatbot, similar to Bank of America’s Erica. 

Despite its major data breach in mid-2019, the bank also came first on our Banking Digital Trust Report, where it was the frontrunner on all six pillars of trust: security, privacy, reputation, reliability, ease of use, and feature breadth. Capital One’s high scores likely stemmed from its recent large-scale cloud migration, which has improved service continuity and facilitated upgrades, as well as reinforced security protocols that helped rebound customer perceptions. 

Capital One also acquired fintech United Income in 2019, a digital platform that offers wealth management services for people moving into retirement. The fintech combines both technological capabilities with human facets, like providing access to a team of wealth managers—making it attractive for consumers who still desire human interaction. 

10. Bank of New York Mellon Corp. – $349.43 Billion

Bank of New York Mellon, commonly known as BNY Mellon, is an investment banking services holding company and one of the oldest banking corporations in the United States. Formed from the 2007 merger of The Bank of New York and the Mellon Financial Corporation, BNY Mellon offers corporate and individual investment services, as well as private banking services for wealthy clients.

How can small banks compete?

Chime Co-founders Chris Britt and Ryan King - Chime

Neobanks secured a record $2.5 billion globally. Chime, a San Francisco-based neobank, took about four years to reach one million users in 2018. It has since acquired over 4 million users—quadrupling its user base in just one year. The competition put forward by digital-only banks will eventually force traditional banking leaders to revamp their banking practices and offerings due to the increasing digital demands of consumers.

Источник: https://www.insiderintelligence.com/insights/largest-banks-us-list/

Here are the 50 Largest Banks in Europe (2019)

  • The top three banks in Europe, based on figures for 2017, have remained unchanged.
  • British bank HSBC is still the top largest bank in Europe, with a balance sheet total of $2,470 billion.
  • The UK has three banks in the top 10 largest banks in Europe as well as six banks in the top 50.

For large banks, the balance sheet total is still a crucial indicator of how well a bank is doing.

With the 2018 edition of the 50 largest European banks published by S&P Global Market Intelligence on Wednesday, we get a good indication of each bank's volume in terms of lending (i.e. mortgages, business loans) and assets.

The top three banks in Europe, based on figures for 2017, haven't budged. With its total assets amounting to $2,470 billion, British bank HSBC still comes out on top as the largest bank in Europe, followed by French lenders BNP Paribas and Crédit Agricole.

To learn more about the latest trends in finance and money management, check out Business Insider Intelligence's new Banking coverage.

Here are the 50 Largest Banks in Europe (2019).

1. HSBC Holdings plc, GBR - €2,100.13 Billion

FILE PHOTO: A man walks past a logo of HSBC at its headquarters in Kuala Lumpur, Malaysia August 6, 2019. REUTERS/Lim Huey Teng/File Photo
Reuters

2. BNP Paribas SA, FRA - €1,963.43 Billion

BNP Paribas
AFP 50 largest banks in the world

3. Crédit Agricole Group, FRA - €1,763.17 Billion

Credit Agricole
AP

4. Deutsche Bank AG, DEU - €1,470.38 Billion

Deutsche Bank
REUTERS/Kai Pfaffenbach

5. Banco Santander SA, ESP - €1,446.15 Billion

Banco Santander Spain
Wikimedia

6. Barclays plc, GBR - €1,275.62 Billion

FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. REUTERS/Simon Dawson/File Photo
call suntrust bank near me Reuters 50 largest banks in the world

7. Société Générale SA, FRA - €1,275.13 Billion

Frederic Oudea Societe Generale

8. Groupe BPCE, FRA - €1,259.42 Billion

9. LLoyds Banking Group plc, GBR - €914.14 Billion

A pedestrian passes the head office of the Lloyds Banking Group in central London August 5, 2009. REUTERS/Stefan Wermuth
Thomson Reuters

10. ING Groep NV, NLD - €846.22 Billion

ing bank
Reuters

11. UniCredit SpA, ITA - €936.79 Billion

Italy's largest bank UniCredit is pictured in downtown Milan September 12, 2013. REUTERS/Stefano Rellandini
Thomson Reuters

12. Royal Bank of Scotland Group plc, GBR - €930.78 Billion

A Royal Bank of Scotland branch is seen in central London, Britain February 21, 2009. REUTERS/Luke MacGregor/File Photo
Thomson Reuters

13. Intesa Sanpaolo SpA, ITA - €801.01 Billion

FILE PHOTO: The Intesa Sanpaolo logo is seen in Milan, Italy, January 18, 2016. REUTERS/Stefano Rellandini/File Photo
Thomson Reuters

14. Crédit Mutuel Group, FRA - €793.52 Billion

15. UBS Group AG, CHE - €782.45 Billion

ubs
50 largest banks in the world Getty Images/Oli Scarff

16. Credit Suisse Group AG, CHE - €680.46 Billion

credit suisse
FABRICE COFFRINI/AFP/Getty Images)

19. Nordea Bank AB, SWE - €581.61 Billion

FILE PHOTO: The Nordea bank logo is seen at the bank's headquarters in Stockholm, Sweden, May 7, 2017. REUTERS/Ints Kalnins/File Photo
Reuters 50 largest banks in the world

20. Standard Chartered plc, GBR - €552.56 Billion

Standard Chartered Bank London Logo
wells fargo 401k customer service REUTERS/Eddie Keogh

21. DZ Bank AG, DEU - €505.60 Billion

DZ Bank Building (Atrium) berlin
Shutterstock

22. Danske Bank A/S, DNK - €475.39 Billion

FILE PHOTO: General view of the Danske Bank building in Copenhagen, Denmark, September 27, 2018. REUTERS/Jacob Gronholt-Pedersen
Reuters

23. Commerzbank AG, DEU - €452.49 Billion

commerzbank
AFP
Источник: https://www.insider.com/largest-banks-europe-list

Top Companies in India by Total Assets - BSE

Company NameLast Price% ChgGross
BlockNet
BlockCWIPTotal
AssetsHDFC Bank2,191.000.534,030.004,030.000.001,058,910.81ICICI Bank409.751.787,931.437,931.430.00764,459.23Axis Bank679.252.473,763.943,763.94272.69640,730.77Kotak Mahindra1,484.551.661,651.551,651.550.00267,392.46Yes Bank84.654.38760.83760.8371.56261,709.60IndusInd Bank1,418.901.991,688.061,688.0621.95238,425.26Federal Bank88.150.80454.95454.9517.09139,188.18IDFC First Bank41.651.34916.59916.5933.61137,164.68StanChart PLC50.00-0.791,317.511,317.516.2589,780.61South Ind Bk11.721.03676.79676.7931.8780,864.96JK Bank37.509.971,598.041,598.0416.5575,515.80Karnataka Bank81.500.31775.00775.000.0070,305.25RBL Bank395.001.57362.54362.5439.9468,966.06Karur Vysya60.250.08561.78561.7821.2162,561.37Bandhan Bank482.302.32331.20331.200.0048,525.08City Union Bank187.651.10250.03250.030.0039,146.30Lakshmi Vilas42.954.50402.45402.450.0036,159.11DCB Bank192.601.10525.98525.980.0030,420.16Dhanlaxmi Bank13.101.24173.05173.0530.7110,453.69
Источник: https://www.moneycontrol.com/stocks/marketinfo/totassets/bse/banks-private-sector.html

Top 50 Banks in The Middle East

Banking and finance is a vital sector for global economies. It is through banks that governments control monetary policy and inflation, and inject stimulus into the markets. When the pandemic hit last year, banks made sure that economies stayed afloat by using measures like postponing loan payments, restructuring debt, and lending to key sectors. These measures helped cushion the economic downturn.

As of June 6, 2021, the banks that feature on Forbes Middle East’s list of the “Top 50 Banks In The Middle East” had a total value of $513.6 billion and assets worth $2.5 trillion. That is more than three times the GDP estimate of Saudi Arabia, the region’s largest economy.

Three of the top four banks and five of the top 10 banks have achieved their scale due to mergers. The region’s banking industry is in the midst of a consolidation phase, where some of the largest banks are merging to create larger banking groups. By doing this, banks reduce competition and increase their expertise. In 2019, ADCB merged with Union National Bank and Al Hilal Bank to form the ADCB Group, which is the UAE’s third largest bank. In 2020, Dubai Islamic Bank, which was already the largest Islamic bank in the Emirates, merged with Noor Bank. And in March 2021, Saudi’s National Commercial Bank announced a merger with Samba, which will create one of the most valuable banks in the region.

With 10 entries each, Saudi Arabia the U.A.E. have the most banks on the list, followed by Qatar with eight, and Kuwait with six.

Источник: https://www.forbesmiddleeast.com/lists/top-50-banks-in-the-middle-east/

Top 8 Banking Firms in Japan, Magazine Says

The eight largest banking companies in the world are Japanese, according to rankings released Wednesday by Institutional Investor magazine.

The largest U.S. banking company, New York’s Citicorp, was 10th on the list, down from seventh last year. Citicorp was the only U.S. banking organization in the top 30, based on assets at the end of 1988.

France’s Credit Agricole rounded out the top 10 in ninth place, a drop of three spots from the previous year.

In the magazine’s 1988 listing, Japanese banks held the first five spots.

The new list represents another reminder of the growing importance of Japanese financial institutions, although banking executives and industry observers point out that size alone does not determine a bank’s ability to compete on the global economic field.

New Requirements in ’92

For instance, Citicorp’s $2.7 billion in pretax earnings last year made it the most profitable banking company in the world. And it ranked third in capital adequacy, an important measure of a bank’s strength.

Japanese banks have been allowed to maintain lower amounts of capital, compared to their assets, which affected their rankings in the capital category. The Japanese institutions, however, are currently raising capital in preparation for new worldwide requirements due to be implemented in 1992 by the Bank for International Settlements in Basle, Switzerland.

U.S. bankers maintain that their growth has been hampered by federal and state laws that prohibit nationwide banking and restrict the types of businesses that banks can enter. But some of those laws are to be dismantled, and analysts anticipate that the U.S. institutions will eventually begin to move up again.

According to the Institutional Investor list, California’s largest banking company, San Francisco-based BankAmerica, ranked 38th in the world at the end of 1988, based on assets of $93.2 billion. BankAmerica, the parent of Bank of America, was the world’s largest banking company from the end of World War II until the early 1980s.

Security Pacific in Los Angeles, the state’s second-largest banking company, ranked 57th; First Interstate in Los Angeles was 73rd, and San Francisco’s Wells Fargo was 85th.

A ranking of individual banks by deposits last year, which did not count non-banking businesses or affiliated banks within a single holding company, found that the 10 largest banks were Japanese. That list was compiled by the American Banker based on figures from the end of 1987. In that listing, Citibank, the principal subsidiary of Citicorp and the largest U.S. bank, ranked 28th.

WORLD’S BIGGEST BANKS Ranked by assets; dollar figures in billions.

‘88 ’87 Bank Nation Assets Deposits 1 1 Dai-Ichi Kangyo Bank* Japan $352.6 $280.3 2 2 Sumitomo Bank* Japan 334.8 265.3 3 3 Fuji Bank* Japan 327.9 256.0 4 4 Mitsubishi Bank* Japan 317.9 248.6 5 5 Sanwa Bank* Japan 307.5 244.1 6 8 Indus. Bank of Japan* ** Japan 249.6 214.4 7 9 Norinchukin Bank** + Japan 215.9 197.2 8 15 Tokai Bank* Japan 213.6 170.3 9 6 Credit Agricole France 210.6 143.7 10 7 Citicorp U.S. 203.8 124.0 11 16 Mitsubishi Trust* ++ Japan 196.3 176.2 12 10 Banque Nationale France 197.0 160.5 13 17 Mitsui Bank* Japan 196.2 151.1 14 13 Barclays England 189.3 155.8 15 19 Sumitomo Trust* ** ++ Japan 180.7 160.5 16 12 Credit Lyonnais France 178.9 150.6 17 14 Natl. Westminster England 178.4 144.9 18 21 Mitsui Trust* ** Japan 173.2 149.8 19 11 Deutsche Bank W. Germany 171.5 156.0 20 23 Long-Term Credit Japan 166.9 143.1 21 20 Taiyo Kobe Bank* ** ++ Japan 166.6 130.4 22 24 Bank of Tokyo* Japan 162.6 128.0 23 27 Yasuda Trust* ** ++ Japan 147.2 125.5 24 18 Societe Generale France 145.7 124.7 25 28 Daiwa Bank* ** ++ Japan 144.5 125.1

* As of March 31, 1988 ** Figures don’t include all 50%-owned subsidiaries. + As of Sept. 30, 1988. ++ Not adjusted for all mergers and acquisitions. Source: Institutional Investor

Источник: https://www.latimes.com/archives/la-xpm-1989-06-15-fi-2564-story.html

Four of the five biggest banks on the planet are Chinese—and that’s worrisome

In a new ranking of the world’s biggest banks, Chinese institutions have grabbed four out of five of the top berths. The list, created by SNL Financial, is based on total assets. The bank at the top, Industrial & Commercial Bank of China, boasts $3.5 trillion in assets—a loan book worth more than Britain’s annual output, as CNN notes.

Don’t buy the argument that this is yet more proof of China’s gathering economic clout. For starters, it’s not surprising that Chinese banks loan a lot more than everyone else. China, obviously, is huge. But more importantly, banks are the engine of credit driving the Chinese economy, generating more than three-quarters of its total financing.

What’s really worrisome is that the Chinese banking sector’s swelling assets aren’t a sign of the banks’ commercial prowess. Instead, they hint at deep, systemic problems that have put the Chinese economy at risk for a long, painful stagnation.

It’s no coincidence that all four banks in the top five—ICBC, China Construction Bank, Agricultural Bank of China, and Bank of China—are state-owned. They dominate the collection of deposits, as well as having privileged access to equity markets. This setup has long allowed the Chinese government to channel funding to state-owned or state-affiliated companies, which then invest in projects that align with the government’s political and economic priorities.

One such priority was avoiding the effects of the global financial crisis. While 1st national bank of scotia phone number countries funded fiscal stimulus packages through deficit spending—bonds and such—much of the Chinese government’s 4-trillion-yuan ($586 billion) stimulus went through banks. This chart compares asset growth among the Chinese and non-Chinese banks on SNL Financial’s list:

The price of the Chinese government’s unusual control over its economy is debt—including the bank loans that helped rocket China’s bank to 50 largest banks in the world top of the SNL list. All told, China’s country’s banks now have nearly 88.8 trillion yuan in outstanding loans—around 50% more than its GDP.

As the economy slows, their vulnerability to default rises. That’s not just because ebbing growth makes it harder for their customers to make money; in addition, desperate firms are more likely to take big financial risks.

The Chinese government vows to keep growth aloft.  Paradoxically, this makes a recovery less likely, as we recently explored. The hope that growth will pick up encourages banks to roll over loans for customers that can’t pay them back. The more credit that goes to these insolvent “zombie” companies, the less there is for entrepreneurs who need loans to build their businesses. Profits, meanwhile, go back into paying off interest, not investing in new factories or hiring new workers. Prices fall as demand withers, which in turn makes that debt outstanding more expensive—and therefore even tougher to pay off. And so the cycle continues.

The problem for Chinese banks is that the government still depends way too much on banks to power growth. They have to keep lending. That means Chinese banks will keep topping the charts for along while yet to business credit card 5 cash back the longer they do, the more worried we should be.

Источник: https://qz.com/472728/four-of-the-five-biggest-banks-on-the-planet-are-chinese-and-thats-worrisome/

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