The financial crisis has not just hit the United States of America or China or other strong economic powers but every country all around the world is in an economic malaise. Ever since the Great Depression of 1930s the world is unable to come out of the crises. There is a great collapse in the housing market and stock exchange in all over the world. All the financial institutes have been a victim of this crisis and that is why even the governments now cannot trust the new banks. Big banks are known for their security and their quick backup solutions at the time of problems and crisis. And even if at some point they start to fail the government are there to support them. Here is a list of the top 10 largest banks in the world with respect to their assets specifically.
10. Bank of America, United States
The bank is located in Charlotte, North Carolina, USA. And its branches are spread in all over the world in around 150 countries. In assets the bank has around 2.1 trillion dollars. After it purchased Merrill Lynch back in 2008 this bank is considered to be one of the major players in investment banking and largest wealth management system.
9. JP Morgan Chase, United States
Another United States bank here in the largest banks list. It is a financial giant and was created in the year 2000 when J.P Morgan merged with Chase Manhattan Co. Its major competition is in the fields of retail and commercial banking, and credit card services in Canada and U.S. the merge of these two companies proved to be perfect for private banking and wealth management. The bank has assets of almost 2.3 trillion dollars.
8. The Royal Bank of Scotland, United Kingdom
RBS also has assets of 2.3 trillion dollars and is situated in Edinburg, Scotland. It has more than 80 percent of shares in the stock market of UK although the British government withholds its rights to the bank. It is an ancient bank and was established in 1727 in the era of King George I. It also controls NWB, the National West Minister Bank which was established in 1650, Dublin based Ulster Bank and the Smith’s Bank of Nottingham.
7. The Barclays Group, United Kingdom
Another British bank here is the Barclays group. It owns assets of almost 2.4 trillion dollars and is present in more than 50 countries all over the world. It is also very well known for its most famous the Barclays English Premier League. Almost 48 million customers are a part of the Barclays group and is known for its co-operate and investment banking.
6. Credit Agricole, France
In France Credit Agricole bank is the largest bank of France in terms of retail banking. Having assets of 2.4 trillion dollars Credit Agricole bank has its branches spread in more than 60 countries all around the globe. In the list of the co-operate banking it is ranked on the number 2.
5. Mitsubishi UFJ Financial Group, Japan
MTFG, the Mitsubishi Tokyo Financial Group is based in Tokyo, Japan and has assets around 2.4 million dollars. This is a financial institute of the giant Mitsubishi group of electronic manufacturing devices. In terms of deposit holdings this bank stands at the second rank.
4. Industrial and Commercial Bank of China
The bank was founded back in the year 1984 as a limited company but because of its impressive organization of money and account security it made its way through the hearts of the businessmen and now has assets of 2.4 trillion dollars. In terms of market capital it is the best bank in the world.
3. BNP Paribas, France
Paribas and Bangue Nationale merged to form this bank and this appeared to be the perfect marriage. BNP Paribas has total assets of $2.5 trillion and it global head quarter is in London. France, Belgium and Italy are considered to be the domestic market of this bank.
2. HSBC, United Kingdom
The bank opened its office in 1865 in Hong Kong and there on its success rate was incredible. A total of 2.6 trillion dollars are deposited in the HSBC bank and its head office now stands in UK. Moreover it lies in around 85 countries worldwide. It is world’s second largest bank in the world.
1. Deutsche Bank, Germany
In the Twin Towers of Frankfurt the headquarters of Deutsche Bank stands as a symbol of glory of the Germans as it is the most secure, incredibly organized and the largest and best bank of the world. Its assets are 2.8 trillion dollars and are the largest dealer of foreign exchange as well. Deutsche Bank of Germany is the largest bank in the world.