Prime 10 Banks By Market Cap (as of 1/31/24)
Identify
Ticker
Market Cap
JP Morgan & Chase
JPM
$504.07 billion
Financial institution of America
BAC
$269.15 billion
Industrial and Business Financial institution of China Ltd.
IDCBY
$249.54 billion
Wells Fargo
WFC
$182.24 billion
China Building Financial institution Corp
CICHY
$151.76 billion
HSBC Holdings
HSBC
$149.06 billion
Royal Financial institution of Canada
RY
$136.83 billion
HDFC Financial institution Restricted
HDB
$131.39 billion
China Retailers Financial institution
CIHKY
$116.65 billion
Mitsubishi UFJ Monetary Group
MUFG
$114.79 billion
Income (TTM): $239.43BNet Revenue (TTM): $498.26BMarket Cap: $504.07B1-12 months Trailing Complete Return: 24.65percentExchange: New York Inventory Trade (NYSE)
JPMorgan Chase & Co. is a multinational financial institution and monetary companies holding firm concerned in company lending, asset administration, wealth administration, and funding and client banking, amongst different choices.
Income (TTM): $171.91BNet Revenue (TTM): $26.52BMarket Cap: $269.15B1-12 months Trailing Complete Return: -3.30percentExchange: NYSE
Financial institution of America is a U.S. financial institution that provides companies for particular person shoppers and companies of all sizes. Apart from deposit and checking accounts by way of its Shopper Banking department, Financial institution of America additionally offers numerous business and wealth administration companies by way of its world branches.
Income (TTM): $221.49BNet Revenue (TTM): $53.53BMarket Cap: $249.54B1-12 months Trailing Complete Return: -8.57percentExchange: OTC
One of many largest banks on the planet by way of whole belongings beneath administration (AUM) and gross revenues is the Industrial and Business Financial institution Of China Ltd. This establishment offers bank cards and loans, enterprise financing, and cash administration companies for firms and excessive web price people. Although it is a business financial institution, it’s state-owned.
Income (TTM): $115.34BNet Revenue (TTM): $19.14BMarket Cap: $182.24B1-12 months Trailing Complete Return: 8.33percentExchange: NYSE
Wells Fargo is acknowledged as a distinguished monetary establishment that provides numerous banking companies, together with private and business banking, wealth administration, and funding banking, catering to the wants of people, companies, and institutional shoppers.
Income (TTM): $202.54BNet Revenue (TTM): $48.10BMarket Cap: $151.76B1-12 months Trailing Complete Return: -8.77percentExchange: OTC
The second Chinese language financial institution on this 10 largest listing is China Building Financial institution Corp. It’s the fifth-largest worldwide and offers company banking companies corresponding to e-banking, credit score strains, and business loans. China Building Financial institution additionally gives private banking by way of a separate section, private loans, deposits, wealth administration, and bank cards.
Income (TTM): $93.56BNet Revenue (TTM): $14.82BMarket Cap: $149.067B1-12 months Trailing Complete Return: 6.96percentExchange: NYSE
The Hong Kong and Shanghai Banking Company (HSBC) is a multinational financial institution and monetary companies firm headquartered in London, United Kingdom. It is among the largest banks on the planet by whole belongings and has operations in additional than 60 international locations.
HSBC gives a variety of monetary services, together with retail and business banking, wealth administration, and funding banking. The financial institution serves prospects in numerous sectors, together with people, small and medium-sized enterprises, and enormous companies. Along with its core banking enterprise, HSBC has a major presence in insurance coverage, asset administration, and different monetary companies.
Income (TTM): $116.92BNet Revenue (TTM): $14.86BMarket Cap: $136.83B1-12 months Trailing Complete Return: -3.09percentExchange: NYSE/TSE
The Royal Financial institution of Canada is headquartered in Toronto, Canada, and offers banking and monetary companies in Canada, the U.S., the U.Ok., Europe, and the Caribbean. The Royal Financial institution gives all the companies you’d anticipate from one of many largest banks on the planet, corresponding to investing, wealth administration, retirement planning, lending, auto loans, and fee options, to call just a few. The financial institution has greater than 94,000 staff in 29 international locations and claims to serve 17+ million shoppers.
HDFC Financial institution Ltd (HBC)
Income (TTM): $25.52BNet Revenue (TTM): $5.72BMarket Cap: $131.39B1-12 months Trailing Complete Return: -15.77percentExchange: NYSE
HDFC Financial institution, headquartered in Mumbai, India, offers banking and monetary companies to companies and other people in Dubai, Hong Kong, India, and Bahrain. Its huge vary of companies contains loans, pensions, banking, auto financing, remittances, investing, credit score companies, and way more.
China Retailers Financial institution (CIHKY)
Income (TTM): $72.62BNet Revenue (TTM): $19.97BMarket Cap: $116.65B1-12 months Trailing Complete Return: -43.93percentExchange: NYSE/TSE
China Retailers Financial institution (CMB) is a state-owned financial institution in China that gives a spread of monetary services, together with retail and company banking, funding banking, and asset administration. It’s headquartered in Shenzhen, China, and has branches and shops all through the nation and operations in Hong Kong, Europe, and america.
CMB is among the largest banks in China and is understood for its sturdy concentrate on retail banking, with a big community of branches and ATMs and a spread of services tailor-made to the wants of particular person prospects. The financial institution additionally has a major presence in company banking and serves a various vary of shoppers, together with small and medium-sized enterprises and enormous companies.
Income (TTM): $63.90BNet Revenue (TTM): $8.24BMarket Cap: $114.79B1-12 months Trailing Complete Return: 27.38percentExchange: NYSE
Mitsubishi UFJ claims its beginnings return to the opening of the Konoike Trade Bureau in Osaka in 1656. By way of the centuries, it transitioned by way of many names and existences, lastly arriving at its present kind, MUFG. The financial institution operates in additional than 50 international locations and employs about 160,000 folks.
How Do Banks Make Cash?
Banks earn money mainly by borrowing from depositors and lending to debtors. The unfold between the rate of interest that they credit score depositors and the speed that they cost debtors for brand new loans is named the unfold or web curiosity earnings—and that is the first supply of banks’ revenues. Banks additionally earn money from charging charges or commissions for numerous companies, corresponding to account servicing, brokerage, wealth administration, monetary advising, and funding banking.
How Did the Greatest Banks Get So Massive?
What Is the Largest Financial institution within the World?
As of Jan. 31, 2024, JP Morgan & Chase held the title of the biggest financial institution on the planet by market capitalization.
The Backside Line
The world’s largest banks have grown considerably over time by way of a mix of natural progress, mergers and acquisitions, innovation, and market dominance. They provide a variety of monetary services to particular person customers, companies, and institutional shoppers.
The highest banks by each income and market cap are concentrated within the U.S. and China, a pattern that has seen main European banks lose their world dominance over the previous a long time.