The safest banks in the world in 2024: the world’s largest banks News ad

Global financeThe 2024 ranking of the world’s 50 largest banks highlights institutions that have built powerful franchises in their markets, with an extensive list of corporate, commercial and retail clients. Their sheer size makes them industry leaders, and by using a variety of banking platforms, they have grown their balance sheets.

In addition, the banks ranked in our 2024 rankings have a major impact on shaping industry best practices because they have the vast resources needed to attract top talent and develop innovative products and services.

The balance sheets of the top 50 companies grew 4% in 2023, bringing their combined assets to $92.8 trillion: an improvement from a 2% decline for last year’s top performers.

Chinese banks are consistently ranked as the world’s largest; they occupy the top four positions in our rankings this year, with the Industrial and Commercial Bank of China taking the top spot with assets of more than $6.2 trillion. The top four banks posted average asset growth of 11%, and the 15 Chinese banks in the top 50 posted average asset growth of 6% year-on-year.

In Japan, the three banks in our ranking—Mitsubishi UFJ Financial Group, Sumitomo Mitsui and Mizuho—saw their balance sheets shrink by an average of 5% in 2023, which can be seen as a reflection of the country’s difficulty maintaining economic growth.

Eurozone countries faced similar challenges, with average GDP growth of less than 1% in 2023, according to the IMF. The 14 eurozone banks in our top 50 increased assets by an average of 1%. YoY changes include new entrants Banque Federative du Credit Mutuel at 47th place and State Bank of India at 49th place, replacing Norinchukin Bank and CaixaBank.