Top 10 Banks in the World 2017

Posted in Top Brand Lists, Total Reads: 11218

Banks have been an important foundation of civilization since a long time. The top banks have not only acted as safe havens for people's money, but have also been the backbone of companies and manufacturing industries. With growing businesses, startups and globalization, the importance of banks has increased manifold as well. In the recent years, its has been seen that Chinese and American banks have dominated the top global banks lists. The list of global top banks include ICBC, China Construction Bank, JP Morgan, Agricultural Bank of China along with ING, Wells Fargo, HSBC Bank etc. Here is the list of the top 10 banks in the world 2017 as per Revenue, Assets and Profit.

Loans, bank accounts services, insurances, forex etc are provided by the largest banks in the world to customers worldwide. However, with services almost similar within the industry, factors like loan rates and online services are becoming the differentiating factor between the best banks in the world and the remaining. The biggest global banks focus on giving customer services like customer touch points, multiple ATMs, smartphone apps, net banking etc.

Quick Glance :

Below are the Biggest and Top Banks in the World 2017 :

1st Place : ICBC

2nd Place : China Construction Bank

3rd Place : JP Morgan

4th Place : Agricultural Bank of China

5th Place : Bank of China

6th Place : Wells Fargo

7th Place : Bank of America

8th Place : Citigroup

9th Place : ING Bank

10th Place : HSBC

For More details about rankings and parameters, read on.

Top Banks 2017 with Parameters (Revenue, Assets, Profit):

10. HSBC Holdings

The name HSBC is derived from the initials of the “Hongkong and Shanghai Banking Corporation”, the predecessor of HSBC Holdings.

Image: Wikimedia

This British multinational bank was founded by Thomas Sutherland, and is headquartered in London and the firm considers both the United Kingdom and Hong Kong to be its home markets. The origins of HSBC Holdings can be traced back to the establishment of the Hongkong and Shanghai Banking Company in 1865.

The firm was founded in Hong Kong. Its second branch in Shanghai opened just a month after its inception in Hong Kong. The cooperative consisted of members of the German, American, Indian and Scandinavian merchant houses. The bank opened its first London office in 1866.

By 1880, the bank had become the banker to the government, and had also acquired the Treasury Chest business for China and Japan. Subsequent years saw the firm expand across Europe and America, with branches being opened in San Francisco in 1875, New York in 1880, Lyons in 1881, and Hamburg in 1889 respectively. It was the first foreign bank to open branches in each of these cities. The bank began rapid expansion in the 1900s, with branches being opened in Philippines, Japan, Sri Lanka, Thailand, Singapore etc. The bank also became the first to print Thailand’s bank notes. The firm established the Wayfoong Consumer Financing Group in 1960, and Wardley, the merchant bank subsidiary was formed in 1972, while Buffalo, New York's Marine Midland Bank, was acquired by the bank in 1980. HSBC Holdings PLC was subsequently created in 1991, as the holding company of the bank.

The focus on acquisition continued as the firm continued acquiring companies, such as Midland Bank, the British giant in 1992, Crédit Commercial de France (CCF) in 2000, Mexico's Grupo Financiero Bital in 2002, and Bank of Bermuda as well as Marks & Spencer's financial services division in 2004. Currently, the firm employs over 2,35,000 employees and is headed by Stuart Gulliver, the CEO of HSBC Holdings. HSBC is 10th on the list of top banks in the world 2017.

Revenue (in Billion of USD): 18.07

Net Profit (in Billion of USD): 6.15

Assets (in Billion of USD): 2374.99

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