Top 5 Largest Banks in the World
Evaluating the Micro Economic Environment on the Basis of a Financial Analysis Obviously, the banks of the world belong to the few fantastic giants with enormous ability to influence the world economy. These financial conglomerates oversee billion-dollar funds, attend millions of their customers, and have affiliates practically worldwide. let’s consider the five biggest banks in the global market in terms of the company’s market value and financial results.
1.JPMorgan Chase (JPM)
Market Cap: $619. 19 billion
Stock Price: $217. 63
Country: USA
Change: +0. 78%
JPMorgan is the soul king of worldwide investment banking situated in USA stood first in top 5 Largest Banks in the World. It deals in consumer service and asset management. JPMorgan- A U.S based international investment banking corporation. as well as one of the top banks in the global market. JPMorgan is a global financial services firm with assets of over $3 trillion, leading in banking, asset management and consumer-services sectors.
2.The Bank of America (BAC)
Market Cap: $311. 46 billion
Stock Price: $40. 14
Country: USA
Change: +0. 89%
Bank of America (BOA) is of the largest banks in United States and making a significant impact on the global market. The company specializes in some basic services such as wealth management, corporate banking, and personal financial services. Well known for its acquisition of Merrill Lynch in year 2009 and has evolved to be a giant/global player in the investment banking. It currently boasts of over 200000 employees while its product reaches millions of customers within the American market and across the geographical world.
3.Industrial and Commercial Bank of China (ICBC)
Market Cap: $260. 35 billion
Stock Price: $0. 54
Country: China
Change: +0. 94%
The company which is based in China is the largest bank in the China and overall is ranked third largest bank in the world. ICBC serves more than 400 million clients in China alone and has its operations in more than 40 countries making it a key player in the banking industry. It is a market leader in corporate loans as well as trade financing, and the bank’s operations also remain global.
4. ABC (Agricultural Bank of China)
Market Cap: $217. 08 billion
Stock Price: $0. 64
Country: China
Change: +0. 22%
Another major actor in Chinese banking arena is the Agricultural Bank of China. As a major agriculture and rural department bank, ABC plays pivotal role in supporting China’s agricultural economy especially through financing activities in rural areas. It has developed and grown over the years to other products such as retail and commercial bank.it plays a vital role in agriculture and small and medium business.
5. The Wells Fargo (WFC)
Market Cap: $193. 53 billion
Stock Price: $56. 86
Country: USA
Change: +2. 17%
There is Wells Fargo, which is one of the oldest banks in the U. S., is at the fifth place among the world’s largest investment banks. Being a legacy of traditional banking it caters millions of clients with offerings across categories including consumer banking, wealth management, mortgage among others. Nevertheless, Wells Fargo now continued to be one of the major players in the U. S. market even though in the past several years the company faced some difficulties. The fact that it has widespread branch network and concentration on the sales of financial services to small and medium-sized enterprises will make it continue to operate in the industry.
Conclusion
Among these five banks namely, the JPMorgan Chase, Bank of America, the Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China, and the Wells Fargo, these five are not only the biggest in terms of market capitalization but are the most innovative, expanding and effectively offering their service to their valued customers. All of them belong to the top tier of the world’s financial institutions – both from the Western and Eastern worlds – that define the future of global banking. Due to these reasons, they remain relevant as solid pillars for the overall financial systems of the world.