Banks are the backbone of world economy, playing a vital role in development and investment. Banks perform the important functions of mobilizing deposits as well as provision of loans. Here is a list of top 10 banks in the world as in June 2014, which is based on the balance sheets of year 2013:
1. Industrial and Commercial Bank of China Limited
The leader on the list of top 10 banks in the world is Industrial and Commercial Bank of China Limited, which was on no 1 in the last financial year too. The assets of the bank are estimated to be $ 3,124,474 million, while the capital is $ 58,035.91 million.
2. China Construction Bank Corporation
Another bank based in China stands at no 2 in the list, with estimated assets $ 2,537,402 million and capital of $ 41,292.05 million, is the China Construction Bank Corporation. The bank has moved up from the sixth position last year to second position this year.
3. BNP Paribas SA
Featuring next on the list of top 10 banks in the world is BNP Paribas SA, France, which has retained its position on no 3 as in the last year. The net assets of the bank are measured at $ 2,474,078 million and capital is $ 36,849.92 million.
4. Agricultural Bank of China Limited
Agricultural Bank of China is another bank from China to be included in the top 10 list, which has jumped up from no 7 last year to no 4 this year. The estimated assets of the bank are $ 2,405,091 million and capital is $ 53,643.29 million.
5. Bank of China Limited
The next name to be included in the list of top 10 banks in the world is Bank of China Limited, which has come to occupy the fifth spot from the tenth of last year. It has assets worth $ 2,291,492 million and capital of $ 46,140.19 million.
6. Deutsche Bank AG
A bank from Germany, Deutsche Bank AG follows as no 6, while it was on no 2 last year. The assets of the bank are $ 2,214,678 million while the capital stands at $ 3,587.14 million.
7. Barclays Bank PLC
A UK based bank called Barclays Bank PLC features next on this list. The bank has plummeted from no 5 to no 7 rank this year. Its assets have been estimated at $ 2,173,936 million and the capital at $ 3,977.48 million.
8. Japan Post Bank Co. Ltd.
Japan Post Bank Co Ltd has retained the number 8 position among the top 10 banks in the world. The assets of this bank are worth $ 2,118,752 million, while its capital stands at $ 37,107.72 million.
9. Credit Agricole SA
The next bank to feature on this list is a leading French bank called Credit Agricole SA, which has fallen from its 4TH position last year to no 9. The estimated assets of the bank are $ 2,112,250 million and its capital is $ 10,314.73 million.
10. The Bank of Tokyo-Mitsubishi UFJ
On no 10 spot in the list is the Japanese bank called The Bank of Tokyo-Mitsubishi, which was on no 11 last year. The assets of the bank are valued at $ 1,948,128 million, while its capital is valued at $ 20,658.36 million.
Some other leading banks in the world are JP Morgan Chase Bank National Association, USA, The Royal Bank of Scotland, UK, Societe Generale, France and BPCE, France.