World’s Safest Banks 2024: World’s Biggest Banks

Strengthened balance sheets secure China’s retention of the top spots in this year’s rankings.

Global Finance’s 2024 ranking of the world’s 50 largest banks highlights institutions that have built powerful franchises in their respective markets, with extensive rosters of corporate, commercial, and retail clients. Their sheer size makes them industry leaders, and by leveraging thier diverse banking platforms they have grown their balance sheets.

Additionally, banks that earned a place in our 2024 ranking are highly influential in shaping the industry’s best practices, with the deep resources needed to attract top talent and develop innovative products and services.

Balance sheets for the top 50 expanded 4% in 2023, giving them aggregate assets of $92.8 trillion: a turnaround following a 2% decline for last year’s winners.

Chinese banks have consistently ranked as the world’s largest; this year, they hold the top four positions in our ranking, with Industrial and Commercial Bank of China on top at more than $6.2 trillion in assets. The top four banks averaged 11% asset growth and the 15 Chinese banks in the top 50 posted an average 6% year-over-year (YoY) increase.

In Japan, the three banks included in our ranking—Mitsubishi UFJ Financial Group, Sumitomo Mitsui, and Mizuho—all suffered an average 5% balance sheet contraction in 2023, which could be seen as a reflection of the country’s difficulty sustaining economic growth.

Euro area economies had similar challenges, with an average of less than 1% GDP growth in 2023, according to the IMF. The 14 eurozone banks in our top 50 averaged a 1% increase in assets. YoY changes include new entrants Banque Federative du Credit Mutuel at No. 47 and State Bank of India at No. 49, replacing Norinchukin Bank and CaixaBank.

50 Biggest Global Banks 2024
RankCompany NameDomicileTotal Assets
(USD million)
Report Date
1Industrial & Commercial Bank of ChinaChina6,256,94012/31/23
2Agricultural Bank of ChinaChina5,622,09012/31/23
3China Construction BankChina5,364,91812/31/23
4Bank of ChinaChina4,540,03112/31/23
5JPMorgan ChaseUnited States3,875,39312/31/23
6Bank of AmericaUnited States3,180,15112/31/23
7HSBC HoldingsUnited Kingdom3,038,67712/31/23
8BNP ParibasFrance2,839,24612/31/23
9China Development BankChina2,611,36112/31/23
10Mitsubishi UFJ Financial GroupJapan2,586,4453/31/24
11CitigroupUnited States2,411,83412/31/23
12Credit AgricoleFrance2,398,70412/31/23
13Banco SantanderSpain1,985,13412/31/23
14Bank of CommunicationsChina1,968,26112/31/23
15Wells FargoUnited States1,932,46812/31/23
16BarclaysUnited Kingdom1,870,64612/31/23
17Sumitomo Mitsui Financial GroupJapan1,852,0743/31/24
18Mizuho Financial GroupJapan1,774,1683/31/24
19Societe GeneraleFrance1,702,61112/31/23
20BPCEFrance1,691,75812/31/23
21Sparkassen-Finanzgruppe (Sparkassen)Germany1,653,77012/31/23
22Goldman Sachs GroupUnited States1,641,59412/31/23
23China Merchants BankChina1,543,82712/31/23
24Deutsche BankGermany1,437,79012/31/23
25Industrial BankChina1,422,01812/31/23
26Royal Bank of CanadaCanada1,405,1731/31/24
27Agricultural Development Bank of ChinaChina1,394,82112/31/23
28Toronto-Dominion BankCanada1,390,4911/31/24
29China CITIC BankChina1,267,21612/31/23
30Shanghai Pudong Development BankChina1,260,88312/31/23
31Morgan StanleyUnited States1,193,69312/31/23
32UBSSwitzerland1,156,01612/31/23
33Caisse des Depots et ConsignationsFrance1,139,19712/31/23
34Lloyds Banking GroupUnited Kingdom1,097,82612/31/23
35China Minsheng BankChina1,074,38312/31/23
36ING GroepNetherlands1,068,84912/31/23
37Intesa SanpaoloItaly1,055,68712/31/23
38Bank of Nova ScotiaCanada1,009,3501/31/24
39Bank of MontrealCanada 963,7221/31/24
40China Everbright BankChina 948,09312/31/23
41Export-Import Bank of ChinaChina 893,93812/31/23
42NatWest GroupUnited Kingdom 876,99312/31/23
43UniCreditItaly 860,01712/31/23
44BBVASpain 849,70112/31/23
45Standard CharteredUnited Kingdom 822,84412/31/23
46Commonwealth Bank of AustraliaAustralia 818,75412/31/23
47Banque Federative du Credit MutuelFrance 788,27512/31/23
48Ping An BankChina 787,78312/31/23
49State Bank of IndiaIndia 741,2023/31/24
50ANZ GroupAustralia 710,0803/31/24
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