World’s Largest Banks 2025: THIS bank retains no. 1 spot for third year in row, check top rankings

The global banking industry had a strong year in 2025, marked by healthy profits, steady growth in deposits, and a recovery in investment banking and trading activities. The latest Forbes Global 2000 list once again shows U.S. and Chinese banks dominating the global financial scene. Out of the top ten companies in the world, five are major banks based in either the United States or China. JPMorgan Chase secured the No. 1 position overall for the third consecutive year. The American banking giant, which holds USD 4.3 trillion in assets, climbed the ranks after acquiring First Republic in 2022. China’s Industrial and Commercial Bank of China (ICBC), with a massive USD 6.6 trillion in assets, came in at No. 3 overall. The banking industry has remained strong despite ongoing global challenges. In the U.S., higher interest rates have helped boost profits, with net income now exceeding pre-COVID levels. Banks have seen stable liquidity and strong capital reserves. Asset growth also improved in the first quarter of 2025, thanks to a more normal yield curve. Optimism is high, especially with expectations of interest rate cuts and a friendlier business environment, which may lead to more loan demand and business deals.

Still, some concerns remain. U.S. bank leaders have pointed to uncertainty caused by tariff decisions announced by the Trump administration. Experts at Fitch Ratings say that unclear trade policies and the possibility of retaliation from other countries make it difficult to predict future performance. Many banks worry that such unpredictability could slow down business investments and planning.

Six major U.S. banks made it to the top 50, including Bank of America, Wells Fargo, Goldman Sachs, Citigroup, and Morgan Stanley.

In China, banks like China Construction Bank, Agricultural Bank of China, and Bank of China also made the list. However, they’ve faced challenges from falling interest margins and a struggling property sector. While net profits declined slightly, Chinese banks are now focusing on new areas such as loans for emerging industries like electric vehicles and AI.

In Europe and Canada, banks showed stable fundamentals but face difficulties due to possible interest rate cuts and tariffs. The UK’s HSBC Holdings remains the largest bank outside the U.S. and China at No. 15, with USD 3 trillion in assets. Canada’s Royal Bank rose to No. 26, and Spain’s Santander jumped to No. 29. Japan’s Mitsubishi UFJ Financial reclaimed the top spot among Japanese banks.

Overall, 328 banks are included in the Forbes 2025 Global 2000 list, up from 315 last year. Forbes created this list using data from FactSet, ranking public companies based on their sales, profits, assets, and market value.