It goes without saying that banking in the modern world has evolved in its form and now plays a key role in the economy of the world. Not only consumer banking, but also other investment products, equities, financial services are rendered by the banks today. Banks primarily work by accepting deposits by the consumers and creating credits. Thus, the credit accumulated is invested in other financial and monetary services by the company to get more profit and carry out more and more turnovers.
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In this list we find the Top 10 largest banks in the world by revenue and the total market capital,
That have highest of the assets and collect highest revenue than other banks and the countdown follows as:
10. Goldman Sachs:
It is an American multinational banking firm that renders services in global investment banking, securities, investment management and other services with institutional clients. It was founded in 1869 in New York City, currently operating worldwide with over 36,500 employees. The firm also renders services in commercial banking, commodities, mutual funds, prime brokerage and market making.
9. HSBC Private Bank:
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.
8. Credit Suisse:
It is a Swiss global financial services holding company which was found in 1856 and currently headquartered at Zurich, Switzerland. It renders services in investment banking, private banking, asset management and equity management across the globe. It is one of the best banks in Switzerland and has received several other recognitions for its services and products. The company employs about 49,000 people and its revenue is estimated to be CHF 23.38 billion and total assets undertaken is said to be about CHF 820.80 billion.
7. J.P Morgan & Co.:
It is a multinational banking and financial services holding company headquartered in New York City. It is the largest bank in the United States by total assets. The company offers services like commercial banking, asset management, brokerage services, commodity trading, consumer banking, credit cards, corporate banking, consumer finance, foreign exchange trading, global banking, insurance, private banking, retail banking, wealth management, investment banking, private equity to name a few. The company’s subsidiaries include Chase, JP Morgan Cazenove and One Equity Partners. It employs about 235,600 people and is considered to be a universal bank.
6. Citi Private Bank:
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 the largest bank in Canada, headquartered in Toronto, Ontario. It serves over ten million clients through its network of 1,209 branches operating in about 40 countries. It provides products and services in corporate banking, private banking, insurance and finance services. Its total revenue has been estimated to be C$ 35.321 billion and total assets of about C$ 1,074.208 billion, employing over 72,000 people in various locations.
4. BNP Paribas:
This French multinational bank and financial service provider is one of the largest banks in the world. This was formed by the merger of Banque Nationale de Paris and Paribas in 2000. It is split into two business units: Retail Banking& Services which includes asset management, custodial banking, real estate services and Corporate and Institutional Banking. It has significant operations in nations like France, Italy, Belgium, Luxembourg, the United States, Poland, Turkey and Ukraine. Its total revenue is said to be about €42. 938 billion and total assets about €1.994.2 trillion with over 185,000 employees all over the world.
3. Bank of America:
It is an American multinational banking corporation that provides its products and services through about 5,100 centres, 16,000 ATMs, online and mobile banking platforms. It is one of the world’s largest wealth management corporation and major leaders in the investment banking market. It offers services in consumer banking, corporate banking, finance and insurance, mortgage loans, private banking, investment banking, private equity and credit cards. Its total revenue is estimated to be about US$ 82.50 billion and it employs about 211,000 people around the world.
2. Morgan Stanley:
It is an largest American multinational banking and financial services corporation that operates in about 42 countries and has more than 1300 offices worldwide. It has about 60,000 employees all over the world and offers services and products like Investment banking, Asset Management, Commercial banking, investment, prime brokerage, retail brokerage and commodities. Its total assets is estimated be about US$ 807.72 billion with a total revenue of US$ 32.493 billion.
Found in 1862, this company is considered to be the world’s largest manager of private wealth assets and a leading provider of retail banking and commercial banking services in Europe. It provides services covering securities, research in equities, rates, credit, precious metals, foreign exchange and derivatives. The other services offered by this largest bank in the world UBS are investment banking, private banking, corporate banking, private equity, mortgages, credit cards, finance and insurance and wealth management. It is the biggest bank in Switzerland and operates in more than 50 nations with over 60,000 employees worldwide.
This is the list of the largest banks in the world have the highest revenue and total assets undertaking than other banks. This list gives you some knowledge regarding the operations of these banks and subtle ideas about investments and corporate banking too. Keep in touch with this site for more trending and latest topics in the world.