What are The World’s Top 10 Banks
Bank stocks could be in a very good position to do well in 2017.
Several factors are contributing to the health of the banking sector. First, the Fed has signaled it will be raising interest rates, which will among other factors, improve margins for banks. Second, some de-regulation may hit the industry due to the new administration in the White House. This might contribute to major banks in the profit line. Also, the economy is recovering, and banks may be in the mood to loan money again, meaning more profits.
Banks play an important role in our lives and an even greater part as intermediaries in the global financial system. The largest banks are located in China, which is not surprising given that the Chinese economy continues to grow at a fast rate.
Take a look at this video that describes the World’s Top 10 Banks in 2017 by asset value.
China is on the rise
You might be surprised to learn that the world number one bank is the Industrial & Commercial Bank of China. It is actually the largest bank in the world by asset value at $3.62 trillion, and the fourth largest by revenues, which total $134.8 billion.
Among the other world’s top banks you can find Bank of America, which boasts an asset value of $2.15 trillion. The company focuses on retail banking and has nearly 5,000 retail outlets, and offers personal and business banking as well as investment services. You can also see the New York-based multinational bank J.P. Morgan Chase & Co. which is also the largest U.S. bank.
Number 5 in the list is HSBC Holdings, which is the largest bank in the United Kingdom and boasts an asset value of $2.57 trillion. This British-based bank has offices in 80 countries, and throughout the UK. It is considered a very successful and very discreet investment bank, favored among many international investors.
Solid long term investments
While Consumers continue to shift their shopping habits toward online purchases, banks in developing countries like China should continue to expand, making these institutions a good investment option for long-term growth. Having said that, We at Tradeo recommend that traders set their investing goals and the style of investing before they consider buying any stock. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice.