Banks are often among the biggest companies in the world.

In this graphic, Visual Capitalist's Marcus Lu lists the top 50 banks in the world by consolidated assets, based on a 2023 report from S&P Global Market Intelligence. The data represents each bank’s total assets for the most recent period available.

According to S&P, the four largest Chinese banks grew their assets by 4.1% in 2022, reaching a combined total of $19.8 trillion.

In fact, Chinese banks already account for over a third of the assets held by the largest banks on the planet. Four of the 15 biggest companies in China are banks.

RankBankHeadquartersTotal Assets1Industrial and Commercial Bank of China???????? China$5.7T2China Construction Bank Corp???????? China$5.0T3Agricultural Bank of China???????? China$4.9T4Bank of China???????? China$4.2T5JPMorgan Chase & Co.???????? US$3.7T6Bank of America???????? US$3.1T7Mitsubishi UFJ Financial Group???????? Japan$3.0T8HSBC Holdings???????? UK$2.9T9BNP Paribas???????? France$2.9T10Crédit Agricole Group???????? France$2.5T11Citigroup???????? US$2.4T12Postal Savings Bank of China???????? China$2.0T13Sumitomo Mitsui Financial Group???????? Japan$2.0T14Mizuho Financial Group???????? Japan$1.9T15Bank of Communications???????? China$1.9T16Wells Fargo & Co.???????? US$1.9T17Banco Santander???????? Spain$1.9T18Barclays PLC???????? UK$1.8T19JAPAN POST BANK???????? Japan$1.7T20UBS Group???????? Switzerland$1.7T21Groupe BPCE???????? France$1.6T22Société Générale???????? France$1.6T23Royal Bank of Canada???????? Canada$1.5T24The Toronto-Dominion Bank???????? Canada$1.5T25China Merchants Bank???????? China$1.5T26Goldman Sachs Group???????? US$1.4T27Deutsche Bank???????? Germany$1.4T28Industrial Bank???????? China$1.3T29China CITIC Bank International???????? China$1.2T30Shanghai Pudong Development Bank???????? China$1.2T31Morgan Stanley???????? US$1.2T32Crédit Mutuel???????? France$1.2T33Lloyds Banking Group???????? UK$1.1T34China Minsheng Banking???????? China$1.1T35Intesa Sanpaolo???????? Italy$1.0T36ING Groep???????? Netherlands$1.0T37The Bank of Nova Scotia???????? Canada$1.0T38UniCredit???????? Italy$917B39China Everbright Bank???????? China$913B40NatWest Group???????? UK$868B41Bank of Montreal???????? Canada$859B42Commonwealth Bank of Australia???????? Australia$837B43Standard Chartered???????? UK$820B44La Banque Postale???????? France$797B45Ping An Bank???????? China$772B46Banco Bilbao Vizcaya Argentaria???????? Spain$762B47The Norinchukin Bank???????? Japan$753B48State Bank of India???????? India$695B49Canadian Imperial Bank of Commerce???????? Canada$691B50National Australia Bank???????? Australia$680B

The Chinese financial market is followed by the American market on our list, with six U.S. banks combining for $13.7 trillion in assets.

The top 10 on the list include four Chinese banks, two American institutions, two French, one Japanese, and one British.

The biggest climber on our rank was Swiss UBS Group AG. The bank surged to 20th place from 34th in 2021. Its $1.6 trillion asset size has been adjusted to incorporate troubled Credit Suisse Group AG, which UBS agreed to take over in an emergency deal orchestrated by the Swiss authorities in March 2023.

Assets held by the 100 largest banks totaled $111.97 trillion in 2022, down 1.5% from $113.67 trillion a year earlier. Some of the reasons include high inflation, interest rate hikes, and the Russia-Ukraine war, which dampened global economic growth and investor sentiment.