Checkout Below Listed Top 10 Best Banks in The World by 2017, according to service and largest by revenue, Banks are the one of the most important place after the invention of currency system. Initial days of civilizations had a system called Barter system where things were exchanged for things and later the system dint seem all that right and humans came out with some new idea of bringing a system of currency. Thus for all the transactions related to money in world, bank is a place where every transaction takes place.
Given below is the list of the top 10 best Banks of the World that have rendered excellent service in the field of banking and financial services:
10) Banco Santander:
This bank is present in Madrid, Spain. Banco Santander employs more than 185,000 people, has sales of $56 billion, market capitalization of $109 billion and total assets of $1.5 trillion, qualifying it as one of the largest banks in Europe. They have their presence all over the European continent and also all across Latin America, North America other places. They have their presence even in Spain, Portugal, Germany, Italy, Belgium .It offers services in traditional commercial banking, private banking, investment banking, treasury and asset management. This is one of the biggest banks in the Europe and are known to provide one of the best financial assistances in the world.
9) Bank of America:
This is an American bank which is headquartered in Charlotte, North Carolina. This banks has about 224,000 employees all over the world. The capitalization of this company is about $163 billion and the assets are about $2.1 trillion. They have their bank operating in all the state of America. The sale of this bank is about $97 billion. Thus this bank occupies 9th position in the list of best banks.
8) Citi group:
It is an American multinational banking and financial services corporation, found in 1812. It provides services across 140 nations with approximately 16,000 offices with 239,000 employees worldwide. Its products include credit cards, corporate banking, consumer banking, investment banking, global wealth management, private equity and financial analysis. It is one of the Big Four banks in the US.
It is a British-based multinational banking and financial services, which was first found in Hong Kong in 1865. It has over 6,000 offices in 71 countries and territories across Asia, Africa, Oceania, North America, South America and Europe with over 60 million customers. It was named the world’s sixth-largest public company by Forbes. It operates in four strategic business groups as Commercial banking; Global banking; Retail banking and wealth management; and Global Private banking.
6) Wells Fargo:
Known for its banking services and mortgages this bank is currently have a sales of about $90 billion and asset of about $1.7 trillion. The bank currently employees about 264000 employees. This bank is world’s most valuable bank because of its market capitalization that is about $302 billion. Thus this bank is in top 6th position in top 10 list of best banks in the world.
5) JPMorgan Chase:
This bank is founded in 1799, JPMorgan Chase (NYSE: JPM) is one of the oldest. In the year 2015 it has a $225.5 market capitalization, 241,000 employees, and sales of $98 billion and total assets of $2.5 trillion. When J.P. Morgan & Company merged with the Chase Manhattan Corporation in 2000, four of the largest banking institutions in the United States were combined under the name J.P. Morgan Chase. This bank had to go through certain financial crisis during the year 2008. Thus it is in 5 th position.
4) Bank of China:
This bank is founded by the government of the China and it’s is best and oldest banks in the China. It was founded in the year 1912 now having more than 100 years of experience still they provide quality service. With 308,000 employees, market capitalization of $199 billion, sales of $120 billion and total assets of $2.6 trillion, the Bank of China is the smallest of the big four state-owned banks as of 2015. The Bank of China made news in 2015 by opening two global commodity centers in Singapore, making it the first Chinese bank to establish such facilities outside of China. Thus it becomes number 4 th top bank in the world.
3) Agricultural Bank of China:
This another best bank in the world. It is one of the biggest public banks and it’s has its record in IPO of about $22.1 billion. The Agricultural Bank of China is based in Beijing, and as of 2015, it has 494,000 employees, $129 billion in sales, $190 billion market capitalization and total assets of $2.8 trillion. Thus this bank becomes one of the best banks in the world. They come in the third position in the list.
2) China Construction Bank:
This bank is China’s second largest banks with over employees about 372000. This bank has about 15000 branches all over the world. . The bank has locations in mainland China, Hong Kong, Singapore, Germany, South Africa, Japan, Vietnam, South Korea and New York City. As of 2015, it has sales of $130 billion, total assets of $2.9 trillion and a market capitalization of $213 billion. Founded in 1954, China Construction Bank has had its share of controversy. But then beneath all those controversies it still stands in second position in the world.
1) Industrial & Commercial Bank of China:
The bank was founded in the year 1984 but now it’s in the number one position all over the world. The bank is a state owned commercial bank and biggest bank in China. This bank employs about 460000 employees all over the world. It has about sales of some $167 billion. The assets of this company is about $3.6 trillion and market capitalization of about $278 billion. Thus it becomes number one in the list of best banks in the world.
This is the list of top ten best banks in the world by 2017 that have recorded the highest profit and revenues with their monetary transactions. No doubt, without the banks, our lives would have been harder. With intelligent investment and savings, it is possible to have better financial security in life.