There are thousands of banks around the world, with hundreds of them operating in India. The State Bank of India (SBI) is India’s largest bank. But which is the largest bank in the world? If you don’t know, you will find out today. The world’s largest bank is not in America or Europe.
Here is the World’s Largest Bank
The Industrial and Commercial Bank of China (ICBC) is the world’s largest bank in terms of total assets. According to reports, the bank’s total net worth is approximately $6.9 trillion (₹612.25 lakh crore). ICBC has held the title of the world’s largest bank by assets since 2012.
How Much Bigger Is It Than SBI?
The net worth or total assets of SBI is currently around ₹67 lakh crore. By this comparison, ICBC is more than 9 times larger than SBI in terms of net worth.
When Was It Established?
After the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party in December 1978, financial system reforms began to accelerate in China. Due to the restoration of various financial institutions and the growing demand for diversified financial services, it was decided in September 1983 that the People’s Bank of China would only serve as the central bank, and a new Industrial and Commercial Bank of China (ICBC) would be established.
After preparations, ICBC was officially launched on January 1, 1984.
How Large is Its Network?
The Industrial and Commercial Bank of China operates around 16,456 branches worldwide, including 16,040 domestic branches and 416 foreign branches. With a strong presence in Asia, Europe, North America, Oceania, and South America, the bank has a significant international impact.
ICBC is a listed entity and is listed on the Singapore and Hong Kong Stock Exchanges, with the Chinese government being its major shareholder.
