Ever pondered up regard the top ten biggest banks globally? Well five amongst the top ten biggest banks globally belongs to China as it domineers Banking arena with almost $5Trn total assets.
The China’s robust banking arena’s success story dates back to the tenth century Song Dynasty. Since, then the Chinese Society as well as political circumstances have significantly being modified, as well as have undergone numerous cultural as well as political commotion within its history. As stated earlier and according to data presented by TradingPlatforms.com, the current prevailing Chinese Banking arena is amongst the most robust as well as being touted as among those of being largest banking systems globally.
Its dominance magnitude can be known from the fact that five amongst the top ten biggest banking giants globally came from China, and biggest among it being the Industrial & Commercial Bank of China with an overall asset valued at $4.9T.
China’s ‘BIG 5’ Banks have Reported for In Excess of $17 Trillion valued In Total Assets
The four biggest global Banks within the total assets have all came out from China. Commencing out from the biggest of them, they are: –
- The Industrial & Commercial Bank of China ($4.9T in total assets).
- China Construction Bank Corp ($3.9T in total assets).
- Agricultural Bank of China ($3.7T in total assets).
- As well as the Bank of China ($3.6T in total assets).
The overall accumulative, the China’s Big 5’ have an overall accumulated total assets net worth of 17.6Trn out of which the accounts for almost 70% total assets are from top ten list.
Negotiating out the top ten list is also the Postal Savings Bank of China ($1.4T in total assets), providing out China’s five representatives in the Top ten list.
European dominance on second list with five other banks representing European Union amongst the top ten list
Apart from the China’s prominence, in the Banking arena, European Union territory scored a distant second with five of the other banks within the top ten list came from there. The other top European five banks that joined top ten list are: –
- Spain’s Banco Santander pioneering European Bank dominance with a $1.8Trn within overall assets.
- France based Group BPCE ($1.51Trn worth of overall assets), as well as Societe Generale ($1.5Trn within overall assets) stated the subsequent two lead banks within the Europe.
- The next bank to be the final European Bank amongst top ten with an accumulative asset of $1.45Trn is the Germany’s Deutsche Bank AG.
In Contrast to European Biggest Banks China’s Biggest Banks are all State-Retained
Pondering upon the bigger picture on the overall assets for the top ten list of Banks witnessed that there is a huge sizeable difference within the biggest banks within China as well as the biggest banks within European territory.
We can view and analyse that none of the European Banks hold in excess of $2Trn within their overall assets, while the four of the China’s biggest banks all hold total accumulated assets valued at $3.5Trn.
One of the factors that elucidate the noteworthy variance in wealth between China’s biggest banks and Europe’s biggest banks is the ownership of these banks.
All 5 of China’s biggest banks are on the top 10 list are state-retained while all the European banks are secretly owned. This means that the biggest Chinese banks act as the foremost funding source of government projects which always connect to large investments.
