{"id":120327,"date":"2016-04-14T19:15:09","date_gmt":"2016-04-14T17:15:09","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=120327"},"modified":"2016-04-14T16:58:30","modified_gmt":"2016-04-14T14:58:30","slug":"biggest-banks-in-the-world-vs-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/120327\/biggest-banks-in-the-world-vs-south-africa\/","title":{"rendered":"Biggest banks in the world vs South Africa"},"content":{"rendered":"

S&P Global Market Intelligence<\/span> has released its annual global banking ranking, showing which global banks control the highest value in total assets.<\/p>\n

The S&P ranking lists the largest banks in the world by converting their total assets into US dollars using the exchange rate as of the end of the period measured.<\/p>\n

Most banks were ranked by total assets as of 31 December, 2015.<\/p>\n

According to the ranking, the Industrial and Commercial Bank of China is by far the biggest bank in the world, with total assets of $3.42 trillion – with the second largest bank, China Construction Bank, trailing some way behind with assets of $2.83 trillion.<\/p>\n

S&P noted that a difference in accounting principles makes it tricky to compare fairly. As an example, if JPMorgan Chase (ranked number 7 with assets totalling $2.35 trillion) had to use the same accounting standards as ICBC, it would rank second, with $3.25 trillion.<\/p>\n

Under US GAAP rules, banks report the net amount of derivative assets on their balance sheets, while IFRS companies must report the gross amount of derivative assets.<\/p>\n

These are the top 20 biggest banks in the world:<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/th>\nBank<\/th>\nCountry<\/th>\nTotal Assets (US$bn)<\/th>\n<\/tr>\n
1<\/td>\nICBC Ltd.<\/td>\nChina<\/td>\n3 420<\/td>\n<\/tr>\n
2<\/td>\nChina Construction Bank Corp.<\/td>\nChina<\/td>\n2 826<\/td>\n<\/tr>\n
3<\/td>\nAgricultural Bank of China Ltd.<\/td>\nChina<\/td>\n2 740<\/td>\n<\/tr>\n
4<\/td>\nBank of China Ltd.<\/td>\nChina<\/td>\n2 590<\/td>\n<\/tr>\n
5<\/td>\nMitsubishi Financial Group Inc.<\/td>\nJapan<\/td>\n2 459<\/td>\n<\/tr>\n
6<\/td>\nHSBC Holdings Plc.<\/td>\nUK<\/td>\n2 410<\/td>\n<\/tr>\n
7<\/td>\nJPMorgan Chase<\/td>\nUSA<\/td>\n2 352<\/td>\n<\/tr>\n
8<\/td>\nBNP Paribas SA<\/td>\nFrance<\/td>\n2 166<\/td>\n<\/tr>\n
9<\/td>\nBank of America Corp.<\/td>\nUSA<\/td>\n2 144<\/td>\n<\/tr>\n
10<\/td>\nCredit Agricole Group<\/td>\nFrance<\/td>\n1 845<\/td>\n<\/tr>\n
11<\/td>\nWells Fargo & Co.<\/td>\nUSA<\/td>\n1 788<\/td>\n<\/tr>\n
12<\/td>\nDeutsche Bank AG<\/td>\nGermany<\/td>\n1 769<\/td>\n<\/tr>\n
13<\/td>\nCitigroup Inc.<\/td>\nUSA<\/td>\n1 731<\/td>\n<\/tr>\n
14<\/td>\nJapan Post Bank Co. Ltd.<\/td>\nJapan<\/td>\n1 730<\/td>\n<\/tr>\n
15<\/td>\nBarclays Plc<\/td>\nUK<\/td>\n1 651<\/td>\n<\/tr>\n
16<\/td>\nMizuho Financial Group Inc.<\/td>\nJapan<\/td>\n1 626<\/td>\n<\/tr>\n
17<\/td>\nSumitomo Mitsui Financial Group<\/td>\nJapan<\/td>\n1 558<\/td>\n<\/tr>\n
18<\/td>\nBanco Santander SA<\/td>\nSpain<\/td>\n1 456<\/td>\n<\/tr>\n
19<\/td>\nSociete Generale SA<\/td>\nFrance<\/td>\n1 449<\/td>\n<\/tr>\n
20<\/td>\nGroupe BPCE<\/td>\nFrance<\/td>\n1 267<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

According to the latest full year results from South Africa’s banking groups, Standard Bank currently has the biggest total for assets under management, at $128 billion.<\/p>\n

Standard Bank is the also country’s biggest bank by clients, with operations in Africa and in the UK.<\/p>\n

Read: Richest banks in South Africa<\/a><\/strong><\/p>\n

FirstRand, which houses First National Bank, Rand Merchant Bank and WesBank, has the second highest total, followed by Nedbank, Absa and Investec.<\/p>\n

South Africa’s fastest-growing bank, Capitec, while gaining over 1 million new customers to overtake FNB in terms of retail banking customers, is still far out of the league in terms of assets.<\/p>\n

The group controls a relatively paltry $4.2 billion in total assets.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n
#<\/th>\nBank<\/th>\nCountry<\/th>\nTotal Assets (US$bn)<\/th>\n<\/tr>\n
1<\/td>\nStandard Bank<\/td>\nSouth Africa<\/td>\n128<\/td>\n<\/tr>\n
2<\/td>\nFirstRand<\/td>\nSouth Africa<\/td>\n89<\/td>\n<\/tr>\n
3<\/td>\nNedbank<\/td>\nSouth Africa<\/td>\n81<\/td>\n<\/tr>\n
4<\/td>\nAbsa<\/td>\nSouth Africa<\/td>\n64<\/td>\n<\/tr>\n
5<\/td>\nInvestec<\/td>\nSouth Africa<\/td>\n62<\/td>\n<\/tr>\n
6<\/td>\nCapitec<\/td>\nSouth Africa<\/td>\n4<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

More on SA banks<\/h3>\n

 <\/p>\n

SA banks acted independently against the Guptas: report<\/a><\/strong><\/p>\n

This is the most complained-about bank in South Africa<\/a><\/strong><\/p>\n

SA banking CEOs not properly qualified: report<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

S&P has released its annual global banking ranking, showing which global banks control the highest value in total assets – and we look at how South Africa’s banks compare.<\/p>\n","protected":false},"author":10,"featured_media":120283,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10335,26],"class_list":["post-120327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-banking","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/120327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=120327"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/120327\/revisions"}],"predecessor-version":[{"id":120369,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/120327\/revisions\/120369"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/120283"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=120327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=120327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=120327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}