Banks are the most necessary element in society for mankind. There are several banks available in the world in every single corner and are eligible for providing the services. People have a daily need to the bank and the banking services provided. Today we have discussed the names of those banks which are considered to be on the top of the list. So here is illustrated a list of the top 5 banks in the world to consider.
- Industrial And Commercial Bank Of China Ltd. (IDBCY)
In terms of total assets under management, IDBCY is considered the world’s largest bank. The bank provides several accessibilities to the customers, such as credit cards, financing, loans, and other management services. The bank is commercial and is owned by the state, with revenue of about $123.6 Billion. The net income of the world’s largest bank is more than $45 Billion, which is a very higher amount.
- JP Morgan Chase & Co. (JPM)
This is a financial service-providing company and is also the most famous and eligible multinational bank. The revenue collected by the bank is significantly very high, with an amount of over $ 114 Billion. JPM is famous for providing various services such as asset management, investment, consumer banking, wealth management, corporate lending, and many other offerings. There were about $10 Billion provided by the bank in the pension funds for the Covid-19 impacted individuals. Besides the good done by the bank for mankind, they have a net income of nearly $36.4 Billion.
- Japan Post Holding Co. Ltd. (JPHLF)
The Japan post holding co. Ltd. Bank is the world’s third-largest bank which assured revenue of about $112.3 Billion. This is the unique bank in the list of the top banks in the world because of its diverse functions. From this bank, you can have basic banking, and other than that, you can even make access to logistics, insurance, and many other businesses. This bank is mostly famous because of the Japan post branch because of the banking.
- China Construction Bank Corp. (CICHY)
In the list of top 5 banks, this is the second Chinese bank as China Construction Bank Corp. There are several corporate services that you can avail yourself like credit lines, commercial loans, and e-banking. A customer can also make access to personal banking and personal loans, manage the credit cards, deposits, and wealth management from the China Construction Bank. The bank has a revenue of $ 102 Billion and a net income of over $ 38 Billion.
- Bank Of America Corp. (BAC)
BAC is an American bank that gives service to all businesses and other individual-based clients. The global branches also provide the customers with wealth management and commercial services. The bank is also famous for providing mortgage deferral to the required in the Covid-19 crisis time. This is a pretty good bank for providing the stock exchange, and also, the revenue linked was $91 Billion.