5 biggest banks in the world
The world’s largest banks by market capitalisation are some of the most powerful institutions in finance, not only because of their size but because of their influence on global markets, economies, and people’s lives.
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In 2024, the top five banks on this list come from both the U.S. and China, showing these countries’ importance in the global financial landscape.
These leading banks serve millions around the world with everything from personal banking to investments and corporate finance.
They are JPMorgan Chase, Bank of America, ICBC, Agricultural Bank of China, and China Construction Bank.
What is market capitalisation?
Market capitalisation, often called “market cap,” is a way of measuring a company’s overall stock market value. It’s calculated by multiplying a company’s current share price by the total number of its shares.
In simple terms, market cap shows how much investors think a company is worth. Generally, the higher the market cap, the more valuable the company is considered.
1. JPMorgan Chase & Co. (U.S.) – Market Cap: $583.91 billion
This New York-based financial giant is the world’s largest bank by market value. With roots tracing back over 200 years, JPMorgan Chase serves millions globally.
It manages a large network of branches under both JPMorgan (for asset and investment management) and Chase (for consumer banking).
2. Bank of America (U.S.) – Market Cap: $304.56 billion
Ranking as the second-largest, Bank of America is one of the “Big Four” in the US. It banks and serves over 56 million clients worldwide.
China
3. Industrial and Commercial Bank of China (ICBC) – Market Cap: $288.06 billion
It’s China’s largest bank and a major global player. ICBC is state-owned and has dominated globally by assets since 2012.
Headquartered in Beijing and founded in 1984, it is still majority-owned by the Chinese government.
4. Agricultural Bank of China (ABC) – Market Cap: $231 billion
Founded in 1951, ABC serves millions of customers and has a massive reach across China and in cities worldwide, including New York and London.
It’s the second-largest Chinese bank by assets and a key player in global finance.
5. China Construction Bank (CCB) – Market Cap: $197.15 billion
With branches across 13 international cities, CCB has expanded its reach significantly since its founding in 1954.
The bank continues to be a key financial institution in China and globally by assets and is headquartered in Beijing.
These banks not only top the charts by value, but also play an important role worldwide, serving millions and influencing financial markets globally.
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