S&P Global Market Intelligence’s 2023 report ranks the top 50 banks globally by consolidated assets, as seen in this graphic. The numbers show each bank’s total assets for the most recent time available.
S&P said that the four major Chinese banks increased their assets by 4.1% in 2022, reaching a total of $19.8 trillion.
In fact, Chinese banks already account for more than one-third of the assets held by the world’s top banks. Banks account for four of China’s top 15 enterprises.
Our list ranks the Chinese financial market first, followed by the American sector, which has six banks totaling $13.7 trillion in assets.
The top ten contain four Chinese banks, two American institutions, two French, one Japanese, and one British.
Swiss UBS Group AG was the largest riser in our rankings. The bank moved up to 20th place from 34th in 2021. Its $1.6 trillion asset base has been expanded to include struggling Credit Suisse Group AG, which UBS agreed to acquire in an emergency deal arranged by Swiss authorities in March 2023.
In 2022, the assets held by the 100 largest banks was $111.97 trillion, a 1.5% decrease from $113.67 trillion the previous year. High inflation, interest rate hikes, and the Russia-Ukraine war have all contributed to a slowing of global economic growth and market mood.