The Top Ten Largest Banks in the World

Jacob Stein Esq.
August 6, 2008 — 1,391 views  
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It always surprises Americans that the U.S. banks that they have all heard about so much are not necessarily the largest banks in the world.  Given the recent IndyMac collapse, it is becoming easier for investors to realize that U.S. banks are not necessarily the largest or the safest.

In February 2008, Bloomberg released a list of the world’s ten largest banks by market capitalization.  Only four U.S. banks made the list, with Citibank dropping from the number 1 spot to number 7.

Here are the rankings

1. Industrial & Commercial Bank of China (China)

Market capitalization of $278 billion.

2. Bank of America (US)

Market capitalization of $196 billion.

3. HSBC Holdings (UK)

Market capitalization of $177 billion.

 4. China Construction (China)

Market capitalization of $165 billion.

5. Bank of China (China)

Market capitalization of $165 billion.

6. JPMorgan Chase (US)

Market capitalization of $160 billion.

7. Citigroup (US)

Market capitalization of $141 billion.

8. Wells Fargo (US)

Market capitalization of $112 billion.

9. Banco Santander (Spain)

Market capitalization of $110 billion.

10. Mitsubishi UFJ Financial (Japan)

Market capitalization of $105 billion.

Don't pick your bank based solely on its proximity to your home.  We live in a global marketplace.  Foreign banks will offer exactly the same (if not more) investment choices, with very competitive interest rates and investment returns.  Read more about offshore banking on our website:  www.maximumassetprotection.com.

Jacob Stein Esq.

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Mr. Stein is a partner with the law firm Boldra, Klueger and Stein, LLP, in Los Angeles, California. The firm's practice is limited to asset protection, domestic and international tax planning, and structuring complex business transactions. The firm's goal is to provide the highest quality legal work that is usually associated with only the biggest law firms, in a boutique firm setting. Jacob received his law degree from the University of Southern California, and his Master's of Law in Taxation from Georgetown University. Mr. Stein has been accredited by the State Bar of California as a Certified Tax Law Specialist and is AV-rated (highest possible rating) by Martindale-Hubbell.