Top 10 International Bank Lists | June 2020

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Top 10 International Bank Lists

Banks have always played a very crucial role in the development of the economy and the nation. Just like every other sector or industry, the bank industry is also getting wider, smooth, and bigger. Because the economy is expanding due to many factors, the role of the bank is also increasing. They not only act as the custodian of the country’s wealth but also as the resources that determine the development of the nations. And other functions that are we are unaware of. Checkout ZestMoney Loan App: Get Guaranteed 50,000 Credit Limit

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Various functions performed by banks are as follows

Credit creation: Banks create Credit for the purpose of providing funds for various projects. Investing the funds procured by banks in the right way and manner. It further lends this money saved by banks to production industries.

Ensures that the nation’s resources are being fully utilized in a proper way: Savings coupled with the bank is used for the development purposes of various regions in the country.

Helps in the development of other industries: Banks encourage the right type of industry to develop and expand by providing loans.

Act as a financial advisor for the government: The government is responsible for the economic situations. They strive to promote various industries for growth, and for that, they need funds. So the bank guides them where to invest and where to not.

As now functions of a bank are pretty much that we expect, there is a competition going on among banks also. Customers rely on the banks that operate at large scale or internationally because of the trust and security they expect to get. So banks work to reach for the position and categories them as national or international banks.

List Of Top 10 International Banks

Rank from lowest to highest on the basis of capital creditworthiness in the market.

  • Mitsubishi UFJ> situated in China with the market worth of $146 billion
  • HSBC Holdings> united kingdom based bank with a capital of $147 billion
  • Citigroup > United states based on the worthiness of $158 billion
  • Wells Fargo, US > capital worth of $168 billion
  • Bank of America, the US > with the capital of $ 189 billion
  • JPMorgan Chase & Co > united states of America based bank with a capital of $209 billion
  • Bank of China> china based bank with a capital of $230 billion
  • Agricultural Bank of China > with a capital of $ 243 billion
  • China Construction Bank > worthiness of $ 287 billion
  • ICBC, China > tops the list with capital worth of $338 billion

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According to the list, the top 5 banks are the US and China-based banks, and according to the sources, China banks always top the list every year. The important thing to note here is that to be in the top 10 list, the bank doesn’t need to have more money, but it should possess great stable market worthiness. More money does not mean a bigger bank or top bank.