Banking is one of the largest business establishments. A bank is a financial institution that serves the public by accepting deposits of cash and creating credits. They are also responsible for releasing the cash credits whenever needed by the account holder.
The proper functioning of the banking system is responsible for sustaining financial stability in a country. To regulate financial stability in a country the government itself undertakes this responsibility. Such banks that run by governments or converted from a private asset to a public sector property are called nationalised banks. Here is the list of top 10 nationalised banks in the world in terms of their worth and competent functioning.
Checkout the Top 10 Best & Largest Nationalised Banks in The World in 2017-2018
10. Bank of Communications, China
It is one of the oldest public banks in China to have issued the modern currency of the country. It was established in the year 1908 and is measured at $1,2 trillion in terms of total assets. It generates a total revenue of about $20 billion and has around 80000 employees. It is one of the top 5 leading commercial banks in China and provides services like personal loans, ATM services, etc.
9. Japan Post Bank Co Ltd., Japan
This bank is the world’s biggest deposit holder. It is a public-owned bank. This bank was introduced in 1875 by the government and is headquartered in Tokyo. Its total asset value is measured at $1.8 trillion. The hosts a workforce of about 12000 people and offers various services like personal loans, ATM services in almost all parts of Japan. They have a tie-up with Standard Chartered Bank.
8. HSBC Holdings, UK
HSBC bank is an England based bank and is measured at $2.5 trillion in terms of total assets. This bank offers services like loans, investment banking, private and consumer finance across 80 countries.
7. Bank of China, China
This is one of the best banks in China and is also the oldest bank founded by the government of China. This bank is listed under the group of largest banks in the world as it’s total worth of assets measured at $2.6 trillion. This bank continues to offer quality services since 1912. This century-old bank offers various services including credit and debit card services, mortgages, providing personal loans for account holders, and asset and liability management, including Insurance of property. This bank hosts a workforce of 300000 and generates revenue sales of $120 billion. Its market capitalisation accounts for about $200 billion. The Bank of Communications, China is also the first bank in China to establish global commodity centers outside of China.
6. Industrial & Commercial Bank of China, China
ICBC is one of the largest banks in the world as it is measured at $3.5 trillion in terms of total assets. This bank functions at different levels and offers various services starting from loans and financial assistance for business operation, credit cards, currency exchange, and even money management services for top corporate icons. Though this bank is operated as a public sector bank, it performs at the commercial level too. The bank has about 500000 people employed in it and generates revenue of about $167 billion dollars. Its market capitalisation accounts to $278 billion and these stats are what makes it the largest bank in the world.
5. China Merchants Bank, China
This bank is the first commercial public bank wholly owned by the corporate legal entities. This bank is measured at $930 billion in terms of total assets and has almost $60 billion market capitalization value. With a workforce of over 75000 people, this bank is able to generate sales of $45 billion. This bank offers services like loans, credit and debit services, and their dual-currency credit card is worth mentioning.
4. Commonwealth Bank, Australia
The Commonwealth Bank of Australia is a publicly-owned multinational banking corporation operating in many countries. t provides a variety of financial services including retail, business and institutional banking, funds and loan management, insurance, investment services. This Australia based bank has a total asset value measuring at $1 trillion and the market capitalisation of $110 billion. It generates sales of $40 billion with the help of its enormous workforce of 45000 people employed across various countries. This bank is the largest bank in the southern hemisphere.
3. China Development Bank, China
This bank is the powerhouse of Chinese national economic policies. It is responsible for raising funds for infrastructure development in the People’s Republic of China. This bank has a total asset value of $2 trillion and the market capitalization of $140 billion. It has a workforce of 3500 people and offers various services like loans and credits. Their services include bond issuing in China.
2. Agricultural Bank of China, China
As the name indicates, this bank operates around agro-economy and farmers and other agriculture-based companies. This is one of the largest public banks with the total asset value measured at $2.8 trillion. This bank is based in the Chinese capital city, Beijing and has almost 500000 people working here. It is one of the top largest companies in the world and second among top nationalised banks. It generates sales of about $130 billion and its market capitalisation is $150 billion.
1. China Construction Bank, China
This is the largest bank in the world with a workforce of 400000 people. With over 15,000 branches spread among the world countries, this bank is measured at $2.9 trillion in term of total assets. It offers both corporate as well as personal banking. Corporate banking section provides services like commercial banking and company e-banking, whereas the personal banking section deals with personal loans, credit cards, and various other financial services for individual customers. This bank also has a treasury that deals with debts and currencies and exchanges. It has sales of $130 billion and the market capitalisation of about $200 billion. It is these stats which makes it the largest public bank in the world.
It can be seen that China is the banking and finance giant in the world with over 3 banks among the largest banks in the world. Banks that are able to increase their asset value are the ones that are preferred by the people for their investment. Nationalised banks are often seen funding developmental projects across the country and hence it is important to maintain a standard statistics. These nationalised banks are also responsible for the healthy circulation of money.