Written by: Paulo Sousa
Sometimes we wonder about the world’s richest people. Who they are, where they are, how do they live. Have you ever thought where do they save their money? Today we took a look to the world’s largest banks.
SNL Financial released last year its first ranking of the 100 biggest banks in the world. Guess what, no U.S. bank appears among the five largest.
SNL explained that it had ranked the banks based on the assets they report under their respective accounting regimes. They also said that some U.S. banks would rank much higher if their assets were adjusted for the netting of derivatives, which is allowed under GAAP but is not permitted under IFRS.
The U.S.’s biggest bank is only the world’s sixth largest. That bank is JPMorgan Chase with $2.463 trillion in assets as of September 2013.
We give you the top 5 world’s largest banks, where probably the richest people of the world save their money.
#1 – Industrial & Commercial Bank of China – Integrity leads to prosperity
ICBC‘s excellence in business won the recognition from home and abroad. With a brand in increasing values every year, ICBC establishes its brand name in the international scene.
In 2011, ICBC has received 191 domestic and international awards. 50 awards from overseas media/publications included “Best Bank in China”, “Best Retail Bank in China” from The Banker (UK), Global Finance (US), The Assets (HK), Asiamoney, Asian Banker(Singapore).
#2 – HSBC Holdings – The World’s local bank
One of the largest banking and financial services institutions in the world, that serves millions of customers through its four Global Businesses.
With more than 6,300 offices in both established and emerging markets, HSBC aim to be where the growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitions.
#3 – Crédit Agricole Group – Consumer Finance
Crédit Agricole is a banking group founded on cooperative and mutualist values, with an European calling and opened to the world. Arising from regional cooperative credit societies, Crédit Agricole today is a diversified international group consisting of 39 cooperative banks, the Regional Banks, together with other retail banks – LCL and the international retail banks – and subsidiaries working in corporate and investment banking, insurance, asset management, consumer credit, leasing and factoring.
Local presence, responsibility, solidarity. These are the Group’s long-standing values, closely linked to its cooperative identity.
#4 – BNP Paribas – The bank for a changing world
BNP Paribas is a French bank and financial services company with headquarters in Paris, and a global headquarters in London. It was formed through the merger of Banque Nationale de Paris (BNP) and Paribas in 2000.
With a presence in 78 countries and nearly 190,000 employees, including more than 145,000 in Europe, BNP Paribas is a leading bank in the euro zone and a first-class player on a global scale.
#5 – Mitsubishi UFJ Financial Group
MUFG manages the affairs of its subsidiaries within the group and the business of the group as a whole along with all relevant ancillary business.
Centered on their customer segments, MUFG makes every effort to refine the balance between risk and return to generate steady growth in bottom line results. Management control functions have been strengthened to improve capital efficiency, and we continue to aim to establish financially sound and globally competitive business platforms.
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