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The World’s Top 50 Largest Banks by Consolidated Assets

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See this visualization first on the Voronoi app.

Bubble chart illustrating the top 50 largest banks in the world by assets

The World’s Top 50 Largest Banks by Consolidated Assets

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Banks are often among the biggest companies in the world.

In this graphic, we list the top 50 banks in the world by consolidated assets, based on a 2023 report from S&P Global Market Intelligence. The data represents each bank’s total assets for the most recent period available.

Chinese Banks Keep on Growing

According to S&P, the four largest Chinese banks grew their assets by 4.1% in 2022, reaching a combined total of $19.8 trillion.

In fact, Chinese banks already account for over a third of the assets held by the largest banks on the planet. Four of the 15 biggest companies in China are banks.

RankBankHeadquartersTotal Assets
1Industrial and Commercial Bank of China🇨🇳 China$5.7T
2China Construction Bank Corp🇨🇳 China$5.0T
3Agricultural Bank of China🇨🇳 China$4.9T
4Bank of China🇨🇳 China$4.2T
5JPMorgan Chase & Co.🇺🇸 US$3.7T
6Bank of America🇺🇸 US$3.1T
7Mitsubishi UFJ Financial Group🇯🇵 Japan$3.0T
8HSBC Holdings🇬🇧 UK$2.9T
9BNP Paribas🇫🇷 France$2.9T
10Crédit Agricole Group🇫🇷 France$2.5T
11Citigroup🇺🇸 US$2.4T
12Postal Savings Bank of China🇨🇳 China$2.0T
13Sumitomo Mitsui Financial Group🇯🇵 Japan$2.0T
14Mizuho Financial Group🇯🇵 Japan$1.9T
15Bank of Communications🇨🇳 China$1.9T
16Wells Fargo & Co.🇺🇸 US$1.9T
17Banco Santander🇪🇸 Spain$1.9T
18Barclays PLC🇬🇧 UK$1.8T
19JAPAN POST BANK🇯🇵 Japan$1.7T
20UBS Group🇨🇭 Switzerland$1.7T
21Groupe BPCE🇫🇷 France$1.6T
22Société Générale🇫🇷 France$1.6T
23Royal Bank of Canada🇨🇦 Canada$1.5T
24The Toronto-Dominion Bank🇨🇦 Canada$1.5T
25China Merchants Bank🇨🇳 China$1.5T
26Goldman Sachs Group🇺🇸 US$1.4T
27Deutsche Bank🇩🇪 Germany$1.4T
28Industrial Bank🇨🇳 China$1.3T
29China CITIC Bank International🇨🇳 China$1.2T
30Shanghai Pudong Development Bank🇨🇳 China$1.2T
31Morgan Stanley🇺🇸 US$1.2T
32Crédit Mutuel🇫🇷 France$1.2T
33Lloyds Banking Group🇬🇧 UK$1.1T
34China Minsheng Banking🇨🇳 China$1.1T
35Intesa Sanpaolo🇮🇹 Italy$1.0T
36ING Groep🇳🇱 Netherlands$1.0T
37The Bank of Nova Scotia🇨🇦 Canada$1.0T
38UniCredit🇮🇹 Italy$917B
39China Everbright Bank🇨🇳 China$913B
40NatWest Group🇬🇧 UK$868B
41Bank of Montreal🇨🇦 Canada$859B
42Commonwealth Bank of Australia🇦🇺 Australia$837B
43Standard Chartered🇬🇧 UK$820B
44La Banque Postale🇫🇷 France$797B
45Ping An Bank🇨🇳 China$772B
46Banco Bilbao Vizcaya Argentaria🇪🇸 Spain$762B
47The Norinchukin Bank🇯🇵 Japan$753B
48State Bank of India🇮🇳 India$695B
49Canadian Imperial Bank of Commerce🇨🇦 Canada$691B
50National Australia Bank🇦🇺 Australia$680B

The Chinese financial market is followed by the American market on our list, with six U.S. banks combining for $13.7 trillion in assets.

The top 10 on the list include four Chinese banks, two American institutions, two French, one Japanese, and one British.

The biggest climber on our rank was Swiss UBS Group AG. The bank surged to 20th place from 34th in 2021. Its $1.6 trillion asset size has been adjusted to incorporate troubled Credit Suisse Group AG, which UBS agreed to take over in an emergency deal orchestrated by the Swiss authorities in March 2023.

Assets held by the 100 largest banks totaled $111.97 trillion in 2022, down 1.5% from $113.67 trillion a year earlier. Some of the reasons include high inflation, interest rate hikes, and the Russia-Ukraine war, which dampened global economic growth and investor sentiment.

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How Debt-to-GDP Ratios Have Changed Since 2000

See how much the debt-to-GDP ratios of advanced economies have grown (or shrank) since the year 2000.

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How Debt-to-GDP Ratios Have Changed Since 2000

This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.

Government debt levels have grown in most parts of the world since the 2008 financial crisis, and even more so after the COVID-19 pandemic.

To gain perspective on this long-term trend, we’ve visualized the debt-to-GDP ratios of advanced economies, as of 2000 and 2024 (estimated). All figures were sourced from the IMF’s World Economic Outlook.

Data and Highlights

The data we used to create this graphic is listed in the table below. “Government gross debt” consists of all liabilities that require payment(s) of interest and/or principal in the future.

Country2000 (%)2024 (%)Change (pp)
🇯🇵 Japan135.6251.9+116.3
🇸🇬 Singapore82.3168.3+86.0
🇺🇸 United States55.6126.9+71.3
🇬🇧 United Kingdom36.6105.9+69.3
🇬🇷 Greece104.9160.2+55.3
🇫🇷 France58.9110.5+51.6
🇵🇹 Portugal54.2104.0+49.8
🇪🇸 Spain57.8104.7+46.9
🇸🇮 Slovenia25.966.5+40.6
🇫🇮 Finland42.476.5+34.1
🇭🇷 Croatia35.461.8+26.4
🇨🇦 Canada80.4103.3+22.9
🇨🇾 Cyprus56.070.9+14.9
🇦🇹 Austria65.774.0+8.3
🇸🇰 Slovak Republic50.556.5+6.0
🇩🇪 Germany59.364.0+4.7
🇧🇪 Belgium109.6106.8-2.8
🇮🇱 Israel77.456.8-20.6
🇮🇸 Iceland75.854.6-21.2

The debt-to-GDP ratio indicates how much a country owes compared to the size of its economy, reflecting its ability to manage and repay debts. Percentage point (pp) changes shown above indicate the increase or decrease of these ratios.

Countries with the Biggest Increases

Japan (+116 pp), Singapore (+86 pp), and the U.S. (+71 pp) have grown their debt as a percentage of GDP the most since the year 2000.

All three of these countries have stable, well-developed economies, so it’s unlikely that any of them will default on their growing debts. With that said, higher government debt leads to increased interest payments, which in turn can diminish available funds for future government budgets.

This is a rising issue in the U.S., where annual interest payments on the national debt have surpassed $1 trillion for the first time ever.

Only 3 Countries Saw Declines

Among this list of advanced economies, Belgium (-2.8 pp), Iceland (-21.2 pp), and Israel (-20.6 pp) were the only countries that decreased their debt-to-GDP ratio since the year 2000.

According to Fitch Ratings, Iceland’s debt ratio has decreased due to strong GDP growth and the use of its cash deposits to pay down upcoming maturities.

See More Debt Graphics from Visual Capitalist

Curious to see which countries have the most government debt in dollars? Check out this graphic that breaks down $97 trillion in debt as of 2023.

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