World's Top 10 biggest banks
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B. Karthick
Sep 17, 2008, 2:11:43 AM9/17/08
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World's Top 10 biggest banks
A bank is a place that will lend you money if you can prove you don't
need it, said US
actor Bob Hope. But on a serious note, there is no denying the fact
that banks are to
economies what souls are to human beings.
The Bankersalmanac.com ranks the world's largest banks by total assets
in US dolalrs. By
the way, according to Bankersalmanac.com, Citibank NA is the world's
16th largest
bank. So which is the top 10? Read on to find out:
1.UBS AG, Zurich, Switzerland
UBS AG is the world's biggest manager of other people's money. The
bank's asset stood
at $1,963.227 billion as in January 2008.
Present in major financial centres worldwide, UBS has offices in 50
countries. The bank
had 81,557 employees on June 30, 2007. It originated in 1747, with its
maiden branch
coming up in the Swiss region of Valposchiavo.
The new UBS evolved out of a merger of the Union Bank of Switzerland
and the Swiss
Bank Corporation in June 1998. The merged bank's new name was
originally supposed to
be the United Bank of Switzerland. But it had to be named UBS as the
proposed name
clashed with United Bank Switzerland.
Marcel Opel is the bank's chairman of the board of directors, its
executive vice chairman
is Marco Suter, and the group CEO is Marcel Rohner. The bank's main
competitors are
Deutsche Bank, Citigroup, Morgan Stanley, Credit Suisse etc.
2.Barclays PLC
Barclays PLC is a major bank operating in Europe, the United States,
West Asia, Latin
America, Australia, Asia and Africa. It operates through its
subsidiary Barclays Bank
PLC.
The bank has registered assets worth $1,951.041 billion. It is also
the sponsor of the
English Premier League. Forbes Global 2000 ranked Barclays PLC as the
18th largest
company in the world in 2007.
The bank's roots can be traced back to 1690 in London. It borrowed its
name from
Alexander and David Barclay, who provided credit to slave traders. The
bank is headed
by Marcus Agius, the group chairman.
Barclays being a member of the global ATM Alliance, its customers can
use ATMs of
other banks free of charge.
3.BNP Paribas
BNP Paribas is a major European bank. It was created on May 23, 2000
through the
merger of Banque Nationale de Paris and Paribas. As on January 31, the
bank's assets
stood at $1,899.186 billion.
It's history can be traced back to 1869, when a group of bankers and
investors, including
Adrien Delahante, Edmond Joubert and Henri Cernuschi, founded the
Banque de Paris.
The bank employs 162,700 people and operates in 87 countries. The bank
is active in the
finance, investment and asset management markets.
4.The Royal Bank of Scotland Group Plc
The Royal Bank of Scotland Group Plc, Edinburgh, UK, is the largest
banking group in
Scotland and the fifth largest in the world by market capitalisation.
As on January 31, the
bank's assets stood at $1,705.680 billion.
The bank originated from the Equivalent Society set up by investors in
the bankrupt
Company of Scotland. The Society was formed to protect the
compensation the investors
received as part of the arrangements of the 1707 Acts of Union.
Controversy has dogged the bank off and on. It has been infamously
dubbed 'Oil Bank of
Scotland' by environmentalists as it provides finance for the fossil
fuel industry, thereby
causing global warming.
In 2001, the bank received threats for having financed animal testing
company
Huntingdon Life Sciences. As a direct fallout of this, RBS withdrew
the company's
overdraft facility.
5.Credit Agricole SA
Credit Agricole SA is the largest retail banking group in France and
the eighth largest in
the world, according to The Banker magazine. On January 31, the bank's
assets stood at
$1,663.101 billion
Through its subsidiaries, Credit Agricole SA is involved in the
following services:
Retail banking
International retail banking
Specialised financial services
Asset management, insurance and private banking
Corporate and investment Banking
The banks' varied activities are supervised by Rene Carron, the bank's
chairman.
6.Deutsche Bank AG
Deutsche Bank AG is headquartered in Frankfurt. It employs more than
78,000 people in
76 countries. As on January 31, the bank's asset stood at $1,485.008
billion.
Deutsche Bank was founded in Germany in 1870 as a bank for foreign
trade in Berlin by
private banker Adelbert Delbruck and politician Ludwig Bamberger. Its
chief executive
officer today is Dr Josef Ackermann
7.The Bank of Tokyo-Mitsubishi UFJ Ltd
The Bank of Tokyo-Mitsubishi UFJ Ltd came into being with the merger
of The Bank of
Tokyo-Mitsubishi, Limited and UFJ Bank Limited. As on January 31, the
bank's assets
stood at $1,362.598 billion.
The bank, through its several subsidiaries, performs the following
activities: commercial
banking, trust banking, securities dealing, leasing, venture capital
deals, factoring,
research and consulting, securities custody service, etc.
The bank's CEO is Nobuo Kuroyanagi.
8.ABN AMRO Holding NV
ABN AMRO Holding NV, Amsterdam, the Netherlands, evolved from the
amalgamation
of AMRO and ABN. As on January 31, the bank's assets stood at
$1,301.508 billion.
The bank created history when the Royal Bank of Scotland Group, Fortis
and Banco
Santander announced on October 8, 2007, that an offer for 86 per cent
of outstanding
ABN AMRO stock had been accepted. This made way for the largest ever
bank takeover
in history. On November 1 2007, an extraordinary shareholder meeting
changed the
bank's management.
Mark Fisher from RBS took over as the bank's CEO. Since then, Fortis
has been using
the ABN AMRO brand name for retail banking in the Netherlands.
9.Societe Generale
Societe Generale, one of the oldest banks in France, is also one of
the main European
financial services companies. As on January 31, 2008, its assets stood
at $1,261.657
billion.
It is headquartered in France with the main head office in Tours
Societe Generale in the business district of La Defense west of
Paris.
10.Bank of America
Bank of America was formed after the consolidation of quite a few
historical banks, the
most prominent of those being the Bank of Italy. On January 31, the
bank's assets stood
at $1,196.124 billion.
In 1958, the bank introduced the BankAmericard, which changed its name
to VISA in
1977. A consortium of other California banks came up with Master
Charge (now
MasterCard).
Bank of America has divisions in US, Europe and Asia. The US
headquarters are located
in New York, European headquarters are based in London and Asia's
headquarters are
split between Singapore & Hong Kong.
B.Karthick
Research Analyst
www.kences1.blogspot.com
A bank is a place that will lend you money if you can prove you don't
need it, said US
actor Bob Hope. But on a serious note, there is no denying the fact
that banks are to
economies what souls are to human beings.
The Bankersalmanac.com ranks the world's largest banks by total assets
in US dolalrs. By
the way, according to Bankersalmanac.com, Citibank NA is the world's
16th largest
bank. So which is the top 10? Read on to find out:
1.UBS AG, Zurich, Switzerland
UBS AG is the world's biggest manager of other people's money. The
bank's asset stood
at $1,963.227 billion as in January 2008.
Present in major financial centres worldwide, UBS has offices in 50
countries. The bank
had 81,557 employees on June 30, 2007. It originated in 1747, with its
maiden branch
coming up in the Swiss region of Valposchiavo.
The new UBS evolved out of a merger of the Union Bank of Switzerland
and the Swiss
Bank Corporation in June 1998. The merged bank's new name was
originally supposed to
be the United Bank of Switzerland. But it had to be named UBS as the
proposed name
clashed with United Bank Switzerland.
Marcel Opel is the bank's chairman of the board of directors, its
executive vice chairman
is Marco Suter, and the group CEO is Marcel Rohner. The bank's main
competitors are
Deutsche Bank, Citigroup, Morgan Stanley, Credit Suisse etc.
2.Barclays PLC
Barclays PLC is a major bank operating in Europe, the United States,
West Asia, Latin
America, Australia, Asia and Africa. It operates through its
subsidiary Barclays Bank
PLC.
The bank has registered assets worth $1,951.041 billion. It is also
the sponsor of the
English Premier League. Forbes Global 2000 ranked Barclays PLC as the
18th largest
company in the world in 2007.
The bank's roots can be traced back to 1690 in London. It borrowed its
name from
Alexander and David Barclay, who provided credit to slave traders. The
bank is headed
by Marcus Agius, the group chairman.
Barclays being a member of the global ATM Alliance, its customers can
use ATMs of
other banks free of charge.
3.BNP Paribas
BNP Paribas is a major European bank. It was created on May 23, 2000
through the
merger of Banque Nationale de Paris and Paribas. As on January 31, the
bank's assets
stood at $1,899.186 billion.
It's history can be traced back to 1869, when a group of bankers and
investors, including
Adrien Delahante, Edmond Joubert and Henri Cernuschi, founded the
Banque de Paris.
The bank employs 162,700 people and operates in 87 countries. The bank
is active in the
finance, investment and asset management markets.
4.The Royal Bank of Scotland Group Plc
The Royal Bank of Scotland Group Plc, Edinburgh, UK, is the largest
banking group in
Scotland and the fifth largest in the world by market capitalisation.
As on January 31, the
bank's assets stood at $1,705.680 billion.
The bank originated from the Equivalent Society set up by investors in
the bankrupt
Company of Scotland. The Society was formed to protect the
compensation the investors
received as part of the arrangements of the 1707 Acts of Union.
Controversy has dogged the bank off and on. It has been infamously
dubbed 'Oil Bank of
Scotland' by environmentalists as it provides finance for the fossil
fuel industry, thereby
causing global warming.
In 2001, the bank received threats for having financed animal testing
company
Huntingdon Life Sciences. As a direct fallout of this, RBS withdrew
the company's
overdraft facility.
5.Credit Agricole SA
Credit Agricole SA is the largest retail banking group in France and
the eighth largest in
the world, according to The Banker magazine. On January 31, the bank's
assets stood at
$1,663.101 billion
Through its subsidiaries, Credit Agricole SA is involved in the
following services:
Retail banking
International retail banking
Specialised financial services
Asset management, insurance and private banking
Corporate and investment Banking
The banks' varied activities are supervised by Rene Carron, the bank's
chairman.
6.Deutsche Bank AG
Deutsche Bank AG is headquartered in Frankfurt. It employs more than
78,000 people in
76 countries. As on January 31, the bank's asset stood at $1,485.008
billion.
Deutsche Bank was founded in Germany in 1870 as a bank for foreign
trade in Berlin by
private banker Adelbert Delbruck and politician Ludwig Bamberger. Its
chief executive
officer today is Dr Josef Ackermann
7.The Bank of Tokyo-Mitsubishi UFJ Ltd
The Bank of Tokyo-Mitsubishi UFJ Ltd came into being with the merger
of The Bank of
Tokyo-Mitsubishi, Limited and UFJ Bank Limited. As on January 31, the
bank's assets
stood at $1,362.598 billion.
The bank, through its several subsidiaries, performs the following
activities: commercial
banking, trust banking, securities dealing, leasing, venture capital
deals, factoring,
research and consulting, securities custody service, etc.
The bank's CEO is Nobuo Kuroyanagi.
8.ABN AMRO Holding NV
ABN AMRO Holding NV, Amsterdam, the Netherlands, evolved from the
amalgamation
of AMRO and ABN. As on January 31, the bank's assets stood at
$1,301.508 billion.
The bank created history when the Royal Bank of Scotland Group, Fortis
and Banco
Santander announced on October 8, 2007, that an offer for 86 per cent
of outstanding
ABN AMRO stock had been accepted. This made way for the largest ever
bank takeover
in history. On November 1 2007, an extraordinary shareholder meeting
changed the
bank's management.
Mark Fisher from RBS took over as the bank's CEO. Since then, Fortis
has been using
the ABN AMRO brand name for retail banking in the Netherlands.
9.Societe Generale
Societe Generale, one of the oldest banks in France, is also one of
the main European
financial services companies. As on January 31, 2008, its assets stood
at $1,261.657
billion.
It is headquartered in France with the main head office in Tours
Societe Generale in the business district of La Defense west of
Paris.
10.Bank of America
Bank of America was formed after the consolidation of quite a few
historical banks, the
most prominent of those being the Bank of Italy. On January 31, the
bank's assets stood
at $1,196.124 billion.
In 1958, the bank introduced the BankAmericard, which changed its name
to VISA in
1977. A consortium of other California banks came up with Master
Charge (now
MasterCard).
Bank of America has divisions in US, Europe and Asia. The US
headquarters are located
in New York, European headquarters are based in London and Asia's
headquarters are
split between Singapore & Hong Kong.
B.Karthick
Research Analyst
www.kences1.blogspot.com
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