Which Country Owns the Most Banks? Ranking of the Largest and Safest Banks in 2023

The world’s top global banks managed to weather the recent banking crisis in the United States with relative calm, despite the bankruptcy of three major and influential players in the American financial sector. The collapse of Silicon Valley Bank, Silvergate, and Signature Bank caught even the most seasoned experts off guard. However, on March 23, 2023, it became evident that the impact of external factors, primarily the sharp rise in interest rates and cryptocurrency volatility, coupled with a lack of risk assessment prowess, could undermine the positive outcomes achieved over many years.

In 2022, banks within the top 10 demonstrated a steady growth trajectory, and their performance indicators for Q1 2023 have also been favorable. This indicates that the leadership of these banking institutions has adeptly assessed the risks, strategically investing their clients’ funds in the most reliable sectors of business. These banks not only managed to stay afloat but also maintained their leading positions in the rankings when directly compared to the previous year.

Discover the best online banks in Europe for EU citizens and foreign nationals.

When it comes to the most reliable banks (according to the highest or near highest ratings from Fitch, Moody’s, and S&P), the top positions are traditionally occupied by European banking institutions such as KfW, Zuercher Kantonalbank, BNG Bank, and Landwirtschaftliche Rentenbank. However, the positions of Chinese financial conglomerates in the assessments of rating agencies are equally noteworthy. The systemic financial crisis in the United States, some of the causes of which are global in nature, has had little impact on them.

The trend of the increasing significance of Chinese banking institutions in 2022 was evident, but it is premature to claim that Chinese banks are starting to dominate on a global scale. The distribution of leaders by country in the most prestigious top 10 category is as follows:

• China – 4 positions
• United States – 2 positions
• Europe – 2 positions
• United Kingdom, Japan – 1 position each.

It is essential to understand that any ratings, even the most objective ones, are not absolute. Many reputable publications highlight other top banking institutions or alternative factual data is used as a baseline criterion, such as the bank’s asset size, volume of debt obligations, or available cash reserves, rather than market capitalization.

Another interesting point concerns the rapid growth of cryptocurrencies’ influence on the global financial system. In terms of market capitalization, Bitcoin claimed the top spot in the 2022 rankings, with the Ethereum project securing the 4th position. Traditional banks – ICBC, Bank of America, and Agricultural Bank of China – joined them in the honorable top 5 positions. They ranked 2nd, 3rd, and 5th, respectively.

Do you want to open your own offshore bank? Our experts will tell you where and how to do it!

Key trends and figures confirming the growing influence of China on the global financial market are as follows:

• The number of Chinese banking institutions in the S&P Global Market Intelligence’s top 100 ranking for 2022 increased to 20 (compared to 19 in 2021).
• The combined assets of the 19 Chinese banks featured in both ranking versions grew by 2.4%.
• The top four largest banks experienced a 4.1% increase in their assets (from USD 19.081 trillion to USD 19.871 trillion).
• The aggregate assets of the eight largest banks in Japan decreased by 8.8%, and the 11 largest banking institutions in the United States saw a decrease of 0.4%.

Ranking of the largest banks in 2023

The 2023 ranking of the largest banks is compiled based on data from S&P Global, a media conglomerate (previously known as The McGraw-Hill Companies, Inc. and McGraw Hill Financial). The top list of the largest banks reflects the situation as of the end of 2022. This ranking allows for tracking general trends in the financial sector and provides data on specific regions. The fundamental criterion for evaluation is ranking by assets.

Explore the top 10 Swiss banks for non-residents in 2023.

Global ranking:

Asia-Pacific ranking:

European ranking:

Latin/South America and the Caribbean ranking:

Middle East and Africa ranking:

USA and Canada ranking:

Find out what types of banking services are available to clients of offshore banks.

Interpretation of results

If a bank is not mentioned in the above ranking, it does not mean it is unworthy of potential clients’ attention. Similarly, a high position in the top ranking does not guarantee that a banking institution will not face significant difficulties in case of unfavorable circumstances. However, in general, the ranking of the largest banks can be useful when making a choice.

Global trends impacting banks worldwide and the final ranking distribution are as follows:

• The assets of the top 100 largest banks, as of the end of 2022, decreased by 1.5% (from USD 113.67 trillion to USD 111.96 trillion).
• The growth of lending in China declined by 0.5%, mainly due to the People’s Bank of China’s accommodative monetary policy.
• UBS Group AG showed the highest growth (advancing from the 34th to the 20th position in the ranking). However, this does not account for the emergency asset acquisition deal of Credit Suisse Group AG.
• Following the merger, UBS Group AG surpassed French banks Groupe BPCE and Société Générale SA (ranking 21st and 22nd, respectively).
• Deutsche Bank AG dropped five positions (from 22nd to 27th), with the bank’s assets declining by 13%.
• European banks are expected to face stricter standards due to concerns from European Union regulators regarding liquidity.

Global trends impacting banks in the Asia-Pacific region:

• The total number of banks in the ranking of the largest banking institutions increased to 43 (from 41).
• A new participant in the prestigious banking top 100, appearing at the 97th position, resulted from the merger between Macquarie Group Ltd and Bank of Ningbo (Australia).
• The overall statistics for the region’s banking sector in 2022 were positive: 22 banks improved their positions in the ranking, 7 maintained their positions, and only 14 saw a decline.
• 10 Chinese banks occupy the top positions in the ranking.
• 7 out of 8 Japanese banks demonstrated a deterioration in their performance.

Global trends impacting banks in the United States:

• In 2022, the statistics recorded an overall decrease in assets.
• Deposit outflows served as a prelude to a significant liquidity crisis in March 2023, the consequences of which will be reflected in the next edition of the ranking of the world’s largest banks.
• US Bancorp notably strengthened its position, climbing 9 spots (currently ranked 51st), with a 17.7% increase in assets. This growth can largely be attributed to the acquisition of the American subsidiary of Mitsubishi UFJ Financial Group Inc.

Do you want to open a bank account abroad? Check out our ultimate guide on this subject.

The world’s largest banking institutions – an alternative perspective

S&P Global, a reputable and respected media holding, is a reliable provider of verified information, making the ranking results unquestionably trustworthy. However, this does not mean that its distribution of positions in the top ranking of the largest banks is the only possible option. If we base our analysis on specific criteria rather than aggregate measures, the final result may turn out to be somewhat different.

The largest banks ranked by market cap:

The largest banks ranked by total assets:

The largest banks by ranked by net assets:

The largest banks ranked by total liabilities:

The largest banks ranked by total debt:

The largest banks ranked by cash on hand:

The world’s safest banks

While the size of a bank’s assets, its market capitalization, or its cash reserves are important factors when determining the safest banking institution, these parameters do not hold primary significance. Far greater weight is given to the ratings provided by Fitch, Moody’s, and S&P. It is these ratings that showcase the level of stability and safety of a specific financial institution.

The top 10 safest banks, region – the whole world:

‘

The top 10 safest banks, region – North America:

The top 10 safest banks, region – Latin America:

The top 10 safest banks, region – Western Europe:

The top 10 safest banks, region – Central and Eastern Europe:

The top 10 safest banks, region – Asia:

The top 10 safest banks, region – Middle East:

Choosing a reliable, large, and secure bank can be done through various methods. However, it would be a mistake to rely solely on the data provided in rankings. The most crucial condition is the compatibility of the banking institution with the specific client, their requirements, and preferences.

The process of selecting a bank is much more complex and cannot be reduced to choosing the best based on a single criterion. Therefore, we strongly recommend seeking assistance from International Wealth experts, who can help you find the best options for your specific situation.

Our popular services related to opening offshore bank accounts:

• private or corporate bank account in Antigua
• private or corporate bank account in the Bahamas remotely
• private or corporate account with an offshore bank in Belize
• private or corporate bank account with Pacific Private Bank (Vanuatu)
• savings account with NCB (Cayman) Ltd
• corporate trading account in Mauritius
• private or corporate account with an international bank in Nevis remotely
• private or corporate bank account in the Cook Islands remotely
• personal account online with a bank in Panama
• private or corporate bank account in the Seychelles remotely.

E-mail to contact our experts – info@offshore-pro.info.