World's Largest Banks by Market Cap 2023

Below are the 50 largest banks and banking groups in the world ranked by market capitalisation as of January 20, 2023. JP Morgan Chase was the world’s most valuable bank, worth US$396.4 billion, ahead of Bank of America and Industrial & Commercial Bank of China (ICBC). Together the 50 banks in the table were worth about US$4.21 trillion. The United States contributed 10 banks to the ranking, China 8, and Canada and the United Kingdom 5 each, followed by Australia with 4 and France and Japan with 3 apiece.

Rank Bank Country Market cap, US$b (January 20, 2023)
1 JP Morgan Chase USA 396.4
2 Bank of America USA 270.7
3 ICBC China 218.6
4 China Merchants Bank China 178.4
5 Wells Fargo USA 168.4
6 China Construction Bank China 165.4
7 Morgan Stanley USA 161.2
8 Agricultural Bank of China China 148.4
9 HSBC Holdings UK 147.1
10 Royal Bank of Canada Canada 139.2
11 Bank of China China 131.8
12 Commonwealth Bank of Australia Australia 127.7
13 Toronto-Dominion Bank Canada 121.4
14 Goldman Sachs USA 114.5
15 Citigroup USA 99.0
16 Mitsubishi UFJ Financial Group Japan 94.2
17 BNP Paribas France 80.0
18 U.S. Bancorp USA 71.1
19 Bank of Montreal Canada 69.5
20 National Australia Bank Australia 69.4
21 UBS Switzerland 67.6
22 PNC Financial Services Group USA 62.1
23 Bank of Nova Scotia Canada 61.6
24 Westpac Australia 58.4
25 Sumitomo Mitsui Financial Group Japan 58.3
26 Banco Santander Spain 56.3
27 ANZ Banking Group Australia 51.7
28 Bank of Communications China 50.3
29 ING Group Netherlands 48.6
30 Itau Unibanco Holding Brazil 48.0
31 Intesa Sanpaolo Italy 46.1
32 Nordea Bank Sweden 42.1
33 BBVA Spain 41.7
34 Lloyds Banking Group UK 41.1
35 Bank of New York Mellon USA 39.8
36 Mizuho Financial Group Japan 39.8
37 Capital One USA 39.7
38 CIBC Canada 37.0
39 NatWest Group UK 36.0
40 Barclays UK 35.6
41 Credit Agricole France 35.1
42 China CITIC Bank China 32.6
43 UniCredit Italy 31.5
44 KBC Group Belgium 30.5
45 Banco Bradesco Brazil 30.1
46 Deutsche Bank Germany 26.6
47 Standard Chartered UK 25.1
48 China Minsheng Banking Corp. China 24.7
49 Societe Generale France 21.1
50 Swedbank Sweden 20.8
Total market capitalization: 4,213

Market values are share prices at the close of January 20, 2023 multiplied by shares outstanding, converted to US dollars at the exchange rates of that date. BanksDaily dates the ranking only to January 2023; the January 20, 2023 close was established independently from that day’s daily closing prices and from the euro reference exchange rates published by the European Central Bank for the same date, which agree with the conversion rates printed on the source page. NatWest Group appears under Canada in the source table and is shown here under its home country, the United Kingdom; no figure has been changed.

Source: BanksDaily.com, “Top 50 Banks in the World 2023 ranked by market capitalization” (market data as of January 2023).