Banking

Where are the world’s biggest banks? Hint: Not in the U.S.

Bank of America is the ninth-biggest bank in the U.S.
Bank of America is the ninth-biggest bank in the U.S. AP

North Carolina can lay claim to two of the world’s largest banks, but you’ll have to go China if you want to open a checking account at the biggest of the biggest.

China’s “Big Four” once again topped the annual list of the world’s biggest banks, according to the latest rankings from S&P Global Market Intelligence. Industrial & Commercial Bank of China, with $3.473 trillion in assets, held the top spot, followed by China Construction Bank, Agricultural Bank of China and Bank of China.

Eighteen of the top 100 banks are headquartered in China, holding nearly $21 trillion in assets, according to the analysis. In second place, the United States had 12 in the top 100, with a little more than $12 trillion in assets.

Tokyo-based Mitsubishi UFJ Financial Group stayed in fifth place, with $2.589 trillion in assets, followed by the biggest U.S. bank – New York-based JPMorgan Chase – at No. 6 in the rankings, with $2.49 trillion in assets.

Charlotte-based Bank of America remained at No. 9, with $2.187 trillion in assets, followed by San Francisco-based Wells Fargo, which rose one spot to No. 10 with $1.93 trillion in assets. New York’s Citigroup is No. 13 with $1.79 trillion assets.

BB&T, based in Winston-Salem, gave North Carolina its second bank on the list, coming in at No. 99, down one spot, with $219 billion in assets.

Rick Rothacker: 704-358-5170, @rickrothacker

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