DBT Bureau
Pune, 16 April 2025
Mainland Chinese lenders dominated the latest S&P Global Market Intelligence ranking of the world’s 100 largest banks by assets, with M&A a key factor in the list.
State-owned Industrial and Commercial Bank of China Ltd., Agricultural Bank of China Ltd., China Construction Bank Corp. and Bank of China Ltd. occupied the top four spots in what was an unchanged top eight from a year ago. Twenty-one banks based in mainland China placed in the ranking, with seven in the top 20.
Overall, 38 banks rose in the ranking, while 37 fell and 25 were in unchanged positions. Four made the latest list after not being in the top 100 in 2024.
M&A a key factor
Fifteen banks were assigned figures pro forma for recent pending acquisitions or disposals.
Capital One Financial Corp.’s assets were adjusted $147.64 billion higher to account for its acquisition of Discover Financial Services. It rose one notch in the ranking to 57th place with assets of $637.78 billion.
Nationwide Building Society rose eight notches to 70th place with assets of $498.77 billion. The UK mutual closed its acquisition of Virgin Money UK in October 2024 in what was the largest UK bank deal since 2008, Market Intelligence had reported.
News Source: S&P Global Market Intelligence Report
