Top 11 Best Wealthiest or Richest Banks in the World (June 2022)

Are you curious to know the top Wealthiest or Richest Banks in the World? Then the answer is in this blog post!

Banks are usually financial organizations that provide a variety of products and services related to finance which consist of currency exchange, money management, investments, credits, managing deposits, etc.

The big companies, businesses, or individuals are generally the customers of the banks other than them few types of institutional clients are also customers of banks.

There are a lot of banks existing in the world. There are small banks with fewer assets and wealth or there are also rich and large banks with a good amount of wealth and assets.

However, the actual definition of a commercial bank has changed over time.

But now the main work of commercial banks is to cater to the needs of their customers which include large or small businesses, individuals from different professions, or other types of institutions, and the banks offer services like account opening, wealth management credits, or loans, money exchange, etc.

As said before, there are plenty of banks in the world with a good amount of wealth and assets that come under the list of the top richest banks in the world. Therefore, In this, we will discuss the 11 richest banks in the world.

List of 11 Richest or Biggest Banks in the World in 2022

We will make is the list with the help of Companies Market Cap, and Investo Pedia.

As discussed before, banks are very important financial institutions and they have a very vital role to play in the global market.

There are many banks present in the world, some are small and some are large in terms of assets or any other characteristics.

Therefore, here is a list of the 11 Richest or Biggest Banks in the world. They are as follows:-

11. Citigroup Inc.

A multinational investment bank company that provides financial services such as global retail banking, institutional finance services, investment services, credits, etc. In simple words, Citigroup Inc bank is an American-based financial institution in the multinational category.

The main headquarters of Citibank is situated in New York City. This bank has branches in more than 40 countries including India.

As Of June 2021,  Citibank Is said to be the eleventh richest bank in the world. Basically, in the year 1998 Citicorp collaborated with a travelers group and as result, it formed an investment banking company named Citigroup Inc.

10. Credit Agricole

Credit Agricole is a French financial organization that has its main headquarters in Paris, France. Credit Agricole is one of the richest banks in the world.

This bank was started as an organization to cater to the needs of the farming industry but later it grew over time. The Citi Agricole bank is considered the biggest financial institution in the world seen in the history of banking institutions.

The Credit Agricole banking group increased its services in the year 1990 and became a full-time banking service providing company on an international level.

The Credit Agricole Financial institution has its total assets in Billions which is $2386 billion.

9. The Bank of America Corporation

The Bank of America is the 9th richest bank in the world. In the year 1998, the organization National Bank conquered BankAmerica which gave rise to the formation of Bank of America.

The result of the following concertation or this purchase was the establishment of Bank of America. Currently, Bank of America is a multinational Investment Bank and a Financial banking company that provides services related to finance.

The Bank of America is also awarded the title of second Richest bank in the United States of America. Initially, this bank was formed in San Francisco, California but now its headquarters are situated in Charlotte, North Carolina.

The bank provides a wide range of financial products and services to businesses, big and small companies, and other types of institutions along with which it also provides usual banking services and credits to individuals.

The Bank of America also offers Investment services and wealth management services to all. The total assets of Bank of America are $ 2738 billion.

8. BNP Paribas S.A

BNP Paribas S.S  is the 8th wealthiest bank in the world and it is also the richest bank in the whole of Europe.

BNP Paribas S.A is an international banking Organisation that has its headquarters in France. This bank was established in the year 1848 as a French national bank.

Since then the banking group has experienced a variety of changes especially after forming BNP Paribas S.A by collaborating with Banque Nationale de Paris and Paribas in the year 2000.

The total assets of BNP Paribas S.A are $2946 Billion.

7. JP Morgan Chase and Co.

No doubt that JP Morgan Chase and Co is one of the best financial institutions in the world. JP Morgan Chase and Co started as a multinational Investment Bank in the United States of America.

JP Morgan Chase and Co bank are also considered a Financial services holding company. As per Magnify Money 2021,  JP Morgan Chase Bank is said to be the seventh richest bank in the world.

JP Morgan Chase Bank headquarters are situated in New York City, New York. The total assets of JP Morgan Chase and Co. are $2.68 Trillion which makes it 7th the richest bank in the world.

JP Morgan Chase and Co come under the big four banks of the world. JP Morgan Chase and Co bank are referred to as universal and custodian banks.

6. HSBC Holdings

HSBC Holdings is a British Investment Bank with Financial Service providing company that has been recognized as a multinational institution.

HSBC Holdings is considered to be the sixth richest bank in the world as per its assets and it is also considered to be the second biggest bank in Europe.

This bank was established in British Hong Kong when the Hong Kong and Shanghai Banking corporation were being merged and formed this banking group.

The institution was established in London, England in 1991. The full legal name of this institution was considered to be very long, that is the reason why the institution’s name was being changed and it was named HSBC Holdings which is its present name.

This banking institution is the oldest institution that has undergone a great amount of modernization.

Today everybody is aware of HSBC Holdings because the institution has put an effect on the global financial markets by offering great Financial deals and services to people.

The total assets of HSBC Holdings company are $ 2.71 Trillion

5. Mitsubishi UFJ Financial Group, Inc

Mitsubishi UFJ Financial Group, Inc is a financial service providing company that originated from a country named Japan. Mitsubishi UFJ Financial Group is the fifth Richest bank in the world with a total amount of assets of $2.33 trillion.

The banking group has its main office in Chiyoda, Tokyo, Japan. The Mitsubishi UFJ Financial Group was established on October 1, 2005, this banking group was a result of collaboration with Tokyo-based Mitsubishi Financial Group and Osaka-based UFJ holdings.

The official collaboration of these two banking groups took place on January 1, 2006, and formed Mitsubishi UFJ Financial Group or MUFG Bank.

4. The Bank of China

The Bank of China is a state-owned commercial bank and is also the fourth largest bank in China. Not only this but as per its assets Bank of China is considered the fourth wealthiest bank in the world.

So basically, the Bank of China is the parent company of BOC associated with administration and management.

However, these two institutions are legally separated and work independently. But these two banking institutions do discuss matters like Insurance marketing, and securities services offered to their customers. The Bank of China has a total amount of assets of $ 3.27 trillion.

3. The Agricultural Bank of China

This is the 3rd largest banking institution in the world. With a total amount of assets of $3.57 trillion, The Agricultural Bank of China is the richest bank in the world.

This bank is also popularly known as ABC or AgBank. This bank is a member of the People’s Republic of China. AgBank has its headquarters in the Dongcheng District of Beijing.

The Agricultural Bank of China is basically a financial service providing institution in mainland China where it offers domestic business products and along with it also offers corporate and personal financial services, treasury operations, and wealth management.

The bank offers a variety of services in countries like Hong Kong, Dubai, Sydney, Singapore, New York, London, and Tokyo.

2. The China Construction Bank Corporation

The China Construction Bank Corporation is the second wealthiest bank in the world.

The headquarters of this super-rich and wealthy banking institution is located in Beijing, China. The bank provides a wide range of financial products and services from personal banking to individuals and corporate accounts.

China Construction Bank provides its services in more than thirty countries and regions around the world.

The bank offers services such as Investment banking, help in financing, life insurance, wealth management, asset management, and pension plans. The China Construction Bank Corporation has a total amount of assets of $ 3.65 trillion.

1. Industrial and Commercial Bank of China

As of 2021, The Industrial and Commercial Bank of China is said to be the richest bank in the world.

The Industrial and Commercial Bank of China Financial institution comes under the big four Financial institutions of China. This bank is a state-owned commercial bank.

The headquarters of this bank is situated in Beijing, China.

Services offered by ICBC banking groups include trade financing, Investment services, wealth management, asset management, credits and debit cards, corporate loans, insurance policies, etc to government agencies, individuals, companies, big and small businesses, and all types of institutions.

Conclusion Richest Banks in the World

Banks are generally Financial institutions that provide financial products and services which include wealth management, asset management, insurance services, pension plans, credits and debit cards, and Investment services to small and large businesses, companies, individuals, and all types of institutions.

The article showed and explained briefly the 11 richest banks in the world according to ascending order.

Through this article, it has been observed that the richest bank in the world is the Industrial and Commercial Bank of China with a total amount of assets of $ 4.32 trillion.

Our Summary

Here is a quick list of the Top 11 Richest or Biggest Banks in the World

1. Industrial and Commercial Bank of China
2. The China Construction Bank Corporation
3. The Agricultural Bank of China
4. The Bank of China
5. Mitsubishi UFJ Financial Group, Inc
6. HSBC Holdings
7. JP Morgan Chase and Co.
8. BNP Paribas S.A
9. The Bank of America Corporation
10. Credit Agricole
11. Citigroup Inc.

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