Banks are easy to hate, but they remain among the largest and most powerful companies on Earth.
The FORBES Global 2000 is a comprehensive list of the world’s largest, most powerful public companies, as measured by a composite score of revenues, profits, assets and market value. This year’s Global 2000 companies hail from 61 countries and account for combined revenues of $39 trillion, profits of $3 trillion, with assets worth $162 trillion, and a market value of $48 trillion.
This year, banks and diversified financials dominate with 434 spots — more than one fifth of the world’s largest companies — representing the largest share of any industry. For the first time since our first ranking in 2003, China’s “Big Four” banks took over the top 4 spots. Among the world’s 100 largest banks, China houses the most with 13 banks in total, while the U.S. places second with 11 spots. Canada comes third with 6 spots, followed by the U.K., Japan, Spain, and France.
The Industrial and Commercial Bank of China stands out, as it has the highest rank among the world’s largest banks across all four metrics ($166 billion in sales, $44 billion in profit, $3.32 trillion in asset, and $278 billion in market value). The juggernaut also tops the overall Global 2000 list for the third consecutive year. This year, Bank of China moved up 5 spots to No. 4 this year, replacing JPMorgan Chase JPM -1.79%, the largest U.S. bank. Wells Fargo WFC +0.00% is the second-highest ranked U.S. bank on our list, as it trails JPMorgan Chase in sales and assets. HSBC remains the largest European banks, while Spain’s Banco Santander rose to No.10 thanks to its rising profits.
1. ICBC , China
2.China Construction Bank , China
3. Agricultural Bank of China , China
4. Bank of China, China
5. JPMorgan Chase, US
6. Wells Fargo, US
7. HSBC Holdings , UK
8.Citigroup C -0.32%, US
9.Bank of America BAC +0.00%, US
10. Banco Santander, Spain
11. Mitsubishi UFJ Financial , Japan
12.Bank of Communications , China
13. Itaú Unibanco Holding, Brazil
14.Commonwealth Bank , Australia
15.Royal Bank of Canada , Canada
16.China Merchants Bank , China
17. Westpac Banking Group , Australia
18.Banco Bradesco , Brazil
19.TD Bank Group TD +%, Canada
20. UBS , Switzerland
21.Industrial Bank , China
22.ANZ , Australia
23.Sumitomo Mitsui Financial , Japan
24.China Minsheng Banking , China
25.National Australia Bank , Australia