The World’s Top 50 Largest Banks by Consolidated Assets

The New Diplomat
Writer

Ad

The Jollof Rice Rivalry: From Banter to Collaborative Culinary Unity – An Analysis of a Proposal for Standardization

By Sonny Iroche Introduction The Jollof rice rivalry, a light-hearted yet fervent debate among West Africans, particularly between Nigerians, Ghanaians, and Senegalese, has transcended kitchens and spilled into social media, music, and even international diplomacy. At its core, this rivalry centers on claims of superiority in preparing Jollof rice, a vibrant, tomato-based rice dish flavored…

‘Your bitterness Against Tinubu is well known,’ Lagos APC Blasts Obasanjo

By Obinna Uballa The Lagos State chapter of the All Progressives Congress (APC) has fired back at former President Olusegun Obasanjo for reportedly describing President Bola Tinubu’s administration as “competing with Buhari in incompetence.” Obasanjo made the remark in his new book, Nigeria: Past and Future, launched in March alongside Lest We Forget: Slavery, Slave…

Ad

By Marcus Lu

Banks are often among the biggest companies in the world.

In this graphic, we list the top 50 banks in the world by consolidated assets, based on a 2023 report from S&P Global Market Intelligence. The data represents each bank’s total assets for the most recent period available.

Chinese Banks Keep on Growing

According to S&P, the four largest Chinese banks grew their assets by 4.1% in 2022, reaching a combined total of $19.8 trillion.

In fact, Chinese banks already account for over a third of the assets held by the largest banks on the planet. Four of the 15 biggest companies in China are banks.

The Chinese financial market is followed by the American market on our list, with six U.S. banks combining for $13.7 trillion in assets.

The top 10 on the list include four Chinese banks, two American institutions, two French, one Japanese, and one British.

The biggest climber on our rank was Swiss UBS Group AG. The bank surged to 20th place from 34th in 2021. Its $1.6 trillion asset size has been adjusted to incorporate troubled Credit Suisse Group AG, which UBS agreed to take over in an emergency deal orchestrated by the Swiss authorities in March 2023.

Assets held by the 100 largest banks totaled $111.97 trillion in 2022, down 1.5% from $113.67 trillion a year earlier. Some of the reasons include high inflation, interest rate hikes, and the Russia-Ukraine war, which dampened global economic growth and investor sentiment.

Source: Visual Capitalist

Ad

X whatsapp