The wealthiest international banks
The business size is sometimes measured by assets, which means the money, property and stock options, which every international corporation owns. Being rich does not always mean being profitable or those with maximum employees.
Sometimes, it can also mean the number of assets a corporation has under its wing, which makes it rich.
In this article, we will look at these international corporations in terms of assets. All of the discussed companies are banks, which are global entities and the market leaders in trend setting and assets compilation.
1: BNP Paribas
The worldwide bank named BNP Paribas has net assets worth 2.95 trillion dollars. It is based in Paris, France. The colossal bank was founded in 2000 and was a result of a merger with Banque Nationale De Paris and Paribas. Its customers belong to Western Europe. It is also working in Asia, Middle East, USA and North Africa.
In USA, the name is BancWest and is the top ten retail banks in western half of the state.
2: Royal Bank of Scotland
The Royal Bank of Scotland is as old as eighteenth century. It had steady growth in the British Isles in the nineteenth and twentieth century. At this time, the Royal Bank of Scotland has 2.7 trillion worth of assets and is now a worldwide services corporation. It can print its own bank notes and can issue six diverse denominations of pound notes ranging from one pound to hundred pounds.
3: HSBC Holdings
It was previously called the Hong Kong and Shanghai Banking Corporation. It was primarily an investment source for British colonists and East Asian merchants. Later, it was moved to London and renamed it as HSBC (The world’s local bank). It is currently working in Europe, Asia and USA. It has verily the biggest credit card accounts till date. It has assets worth 2.3 trillion bucks.
4: Credit Agricole
It is basically a bank hailing from France and had initially begun as a mere savings bank and investment cooperative. Then, it underwent many acquisitions and through many mergers. Now, it is the second largest bank in France. Now, the Credit Agricole bank is dealing in investment accounts, retail savings and much more. It also has seven subsidiary companies, which comprises of stock brokerage and insurance companies. The Credit Agricole has 2.22 trillion bucks in net assets.
5: Bank of America
During the financial crisis of 2008, the Bank of America gained momentum and strength as it took over Merrill Lynch brokerage firm. It was also helped by the government of USA after a fall out in the mortgage securities market. It is second biggest bank in USA. It has twelve percent of the retail bank deposits and still owns 2.2 trillion bucks in assets. It has been working in nearly one hundred countries.
So, these are the banks, which have the highest assets and thus, are the market leaders in their fields. However, these statistics are subject to change and sooner or later, other banks might surface.