Top 10 Banks in the World 2017

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Headquartered in the Xicheng District of Beijing, China, the Industrial and Commercial Bank of China emerges at the forefront of the list of top banks in the world.

Image: Wikimedia

The bank was founded on January 1st, 1984, and after building a firm base within China, ICBC began expanding outside of the country. 1999 witnessed the bank opening its first European branch at Luxembourg, which would also become the European headquarters in the year 2011.

Simultaneously, branches were also opened in many European cities such as Brussles, Paris and Amsterdam etc. 2005 saw corporate giants such as Goldman Sachs, Dresdner Bank and American Express making huge investments in ICBC, as a precursor to the IPO that was being planned in the same year. Soon after, the Industrial and Commercial Bank of China went public in what was to be the world’s largest IPO at the time, with the IPO attracting US $21.9 billion.

In 2008, ICBC became the second Chinese bank to establish its operation in the USA, with a branch being set up in Ney York City. 2011 saw ICBC further expanding its reach across Spain and Pakistan, with one branch being established in Madrid and two in Pakistan. The following year, it acquired 80% shares of the Standard Bank of Argentina as well. ICBC became to establish operations in the Middle East, with a branch being established in Turkey in 2013. In 2015, the bank acquired Turkey's Tekstil Bank, which soon came to be known as ICBC Turkey.

At present, ICBC serves 5784 corporate customers and 530 million personal customers, and employs 4,66,346 employees. The bank has 4 major subsidiaries – ICBC Turkey, ICBC China, ICBC Canada and ICBC Macau. The current Chairman and Executive Director of the firm is Mr.Yi Huiman

Revenue (in Billion of USD): 93.05

Net Profit (in Billion of USD): 40.47

Assets (in Billion of USD): 3500

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Rank Methodology:

1. The leading 20 banks of the world are shortlisted

2. Parameters like revenues, net profits and assets are taken for the analysis

3. Weightages of 40%, 20% and 40% are given to revenues, profits and assets respectively

4. A total score is calculated based on which the largest 10 banks are ranked

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