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Which banks are the largest in the world? The Asian giant once again leads the list of the world's largest banks in 2018 for its total assets.
According to the ranking published this year, the Asian giant once again leads the list of the world's largest banks in 2018 for its total assets, positioning the Chinese entity ICBC in the first place and leaving three other Chinese financial institutions within the top 6 of the list. For its part, the old guards of Europe and the United States are struggling not to lose high positions against developing countries that have been leading the list for several years, placing themselves in enviable positions for the largest banks in certain European regions, such as Italy or France.
As we said, the fact that China has four financial entities leading the ranking of the 30 largest banks in the world, relegating such consolidated institutions as Bank of America to ninth place and the English HSBC to 7th place is not at all a fortuitous result. Since the explosion of the global financial crisis, which particularly affected the US and European economies, China has been growing at a constant annual rate of 10%. While the US and Europe were going through recession, in China the companies increased their size and profits, needing the largest banks in the country to make profitable their investments and gain financing that made it possible to continue growing at the rate that the economy of the region demanded.
As a result, we observe how the Industrial and Commercial Bank of China (ICBC, for its acronym in English) has positioned itself again as the largest bank in the world with $ 3.473 billion of assets according to the latest data. After him, we find the Construction Bank of China, the Agricultural Bank of China and the Bank of China.
The truth is that the European continent survives as best as it can to the economic stagnation of its most influential economies and to the not too good state of its financial institutions, as was proven since the crisis of 2009-2010. Spain was not the only country that had to invest public money to rescue mainly the old savings banks, other European countries also had to access the sending of public aid to ensure the survival of financial institutions like the English Lloyd's Bank or the German Hypo Real State. All this undoubtedly affected the positioning of the largest European banks worldwide.
Against this background, the United Kingdom, which remains outside the Eurozone and therefore is not affected by the policies of the European Central Bank and can intervene in its own monetary policy, is placed at the head of European banks with the largest bank the HSBC, ranked 7th in the list. He is followed by the largest bank of France, BNP PARIBAS, in 8th position, Crédit Agricole, in 10th place and Deutsche Bank, Germany, 15th.
The largest banks in the world for one more consecutive year are the banks of emerging countries with total assets of $ 3.473 billion.
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