THE WORLD’S LARGEST BANKS IN 2022 | FORBES

Did you know that China's ICBC is currently the biggest bank in the world with more than $5 trillion in asset, according to the Forbes Global 2000 list which has 292 banks in total, up from 289 last year?

Despite a tumultuous year for the global economy, American and Chinese banks once again dominate the 2022 Forbes Global 2000 list, which measures the world’s largest and most successful companies. Nearly half of the top ten largest companies on the list are banks based in the United States or China.

The Industrial and Commercial Bank of China is once again the biggest bank on the planet, with $5.5 trillion in assets. Three more Chinese banks were among the top five biggest: China Construction Bank ($4.7 trillion in assets), Agricultural Bank of China ($4.6 trillion) and the Bank of China ($4.2 trillion).

The biggest American bank, JPMorgan Chase is now the world’s fourth-largest public company with nearly $4 trillion in assets, falling from second position last year. 

Bank of America is the No. 9 largest company in the world with $3.2 trillion in assets, Citigroup ranks No. 27 with $2.4 trillion in assets. Other major U.S. banks on the list include Wells Fargo at No. 18 (over $1.9 trillion in assets), Goldman Sachs at No. 37 ($1.6 trillion) and Morgan Stanley at No. 36 ($1.2 trillion).

Apart from the U.S. and China, France’s BNP Paribas was the top European bank, landing at No. 39 on the Global 2000 list with its $3 trillion in assets. 

Other members of the top 100 include the UK’s HSBC at No. 38 ($2.9 trillion in assets) as well as Canada’s RBC at No. 46 and Toronto Dominion Bank at No. 52 (each with nearly $1.4 trillion in assets). The largest Japanese bank with over $3.1 trillion in assets, Mitsubishi Financial Group, ranked No. 59 on the list.

In total, there are 292 banks on the 2022 Global 2000 list, up from 289 last year.

Forbes compiled the Global 2000 list using data from FactSet Research to screen for the biggest public companies in four metrics: sales, profits, assets and market value. The market value calculations use closing prices as of April 22, 2022 and include all common shares outstanding.