The 10 largest banks in the world in 2024

March 20, 2024

The banking industry has an extensive and influential global presence, with numerous financial institutions holding trillions of dollars in assets. In this article, we will delve into the top 10 banks in the world in 2024, providing a comprehensive analysis of their operations, financial performance, and overall impact on the global economy. By examining the details of these top banks, we can better understand the modern financial landscape and how it shapes our world.

The dominance of bank-holding companies

Bank-holding companies play a significant role in the global banking landscape. These corporations control one or more banks but do not necessarily engage in banking themselves. They provide a strategic advantage by allowing for a diversified range of financial services under one umbrella, thus increasing the overall stability of the banks they hold.
Many of the largest banks in the world are part of larger bank holding companies. This structure allows them to offer various financial services, making them more resilient and competitive in the global market.

Top banks in the world in 2024

Here’s a table showcasing the ten largest banks in the world, ranked by their market caps (as of March 19, 2024).

Rank & BankHeadquartersMarket Cap
#1 JPMorgan ChaseNew York, USA$554.93 B   
#2 Bank of AmericaNorth Carolina, USA$284.14 B   
#3 Industrial and Commercial Bank of China LimitedBeijing, China$237.97 B   
#4 Wells FargoCalifornia, USA$206.66 B   
#5 Agricultural Bank of ChinaBeijing, China$193.79 B   
#6 Bank of ChinaBeijing, China$158.92 B   
#7 China Construction BankBeijing, China$152.78 B   
#8 HSBCLondon, UK$146.00 B   
#9 Morgan StanleyNew York, USA$143.83 B   
#10 HDFC BankMumbai, India$141.82 B   

The largest banks in the world play a crucial role in the global economy. They facilitate international trade, provide business loans, and offer financial services to millions of customers worldwide.

Top 10 banks in the world in 2024: A deeper insight

Here’s a deep dive into the largest banks in the world.

JPMorgan Chase

  • Total Assets: $3.744 Trillion

JPMorgan Chase is the largest US-based bank and the fifth-largest bank in the world in terms of total assets. It is a leading player in investment banking and financial services. As the Federal Reserve introduces its new instant payment service dubbed the FedNow system, JP Morgan is among the prominent financial institutions having already adopted the system.

Bank of America

  • Total Assets: $3.194 Trillion

With a substantial investment banking, wealth management, and trading presence, Bank of America serves approximately 66 million consumers and small business clients.

Industrial and Commercial Bank of China (ICBC)

  • Total Assets: $6.118 Trillion

The Industrial and Commercial Bank of China Limited is the largest bank in both the People’s Republic of China and the world when considering total assets. Among the biggest lenders in the world, ICBC continues to steadily remain near the top, along with the likes of the Bank of America.

The Agricultural Bank of China

  • Total Assets: $5.357 Trillion

The Agricultural Bank of China is the third largest bank in the world in terms of total assets. It plays a crucial role in supporting China’s agricultural sector.

Wells Fargo

  • Total Assets: $1.886 Trillion

The American Wells Fargo & Company offers financial services in about 35 countries. Wells Fargo joins JPMorgan in integrating the FedNow system, along with 33 other banks and credit unions.

Bank of China

  • Total Assets: $4.422 Trillion

The Bank of China is the fourth largest bank globally by total assets. It is one of the oldest banks in China and has a significant international presence.

China Construction Bank (CCB)

  • Total Assets: $5.376 Trillion

CCB is the second largest bank globally in terms of total assets. It has a significant influence on China’s construction and infrastructure projects.


  • Total Assets: $2.989 Trillion

Headquartered in the United Kingdom, HSBC is a prominent banking and financial services organisation that caters to millions of customers worldwide.

Morgan Stanley

  • Total Assets: $1.199 Trillion

Morgan Stanley is an investment bank and financial services provider from America. Notably, Morgan Stanley and Mitsubishi UFJ Financial have recently announced plans to take their 15-year alliance further and venture into foreign exchange trading and Japanese research and equities businesses for a global consumer base.


  • Total Assets: $278.44 Billion

As of July 2023, HDFC Bank has merged with HDFC Ltd. (a leading housing finance company) to become one entity. The merger has come about to serve client needs better and adapt to the changing needs of the broader industry. Post-merger, HDFC Bank is currently the 11th largest lender in the world and the largest bank in India.Also Read: Top 10 companies in India by market valuation in 2024

Largest banks in the world by country

Well, now we know the top 10 banks in the world in 2024, but which banks dominate in their respective countries by market cap? Here’s a look at some of the most popular ones:

JPMorgan ChaseUSA
HDFC BankIndia
Royal Bank Of CanadaCANADA
BNP ParibasFrance
Mitsubishi UFJ FinancialJapan
Commonwealth BankAustralia
The Saudi National BankSaudi Arabia

These banks, amongst the largest banks in the world, continue to shape the global financial landscape with their vast resources and extensive reach.

Source: GWFM Research & Study

× How can I help you?