The Chinese banking system is the largest in the world with approximately 4,550 banking institutions and over $40 trillion in total assets. The four largest banks - ICBC, China Construction Bank, Bank of China and Agricultural Bank are the state-owned financial institutions headquartered in Beijing. The list of the top 1000 World Banks includes about 130 Chinese institutions. Below is our ranking of the 10 largest banks in China.

ICBC

Industrial and Commercial Bank of China (ICBC) is the largest bank in China and globally by total assets, loans and deposits. As of March 31, 2020, it recorded total assets of CNY32 trillion (US$4.5 trillion), total loans of US$2.5 trillion, customer deposits of US$3.4 trillion, shareholders’ equity of US$392 billion and net tier 1 capital of US$387 billion. With 445,000 employees, ICBC has about 16,200 branches and outlets, and 82,200 ATMs primarily in Mainland China. It also has offices and subsidiaries in Singapore, Seoul, Kuala Lumpur, Hong Kong, Macau, New York, Frankfurt, Luxembourg, Tokyo, London, Dubai, Abu Dhabi, Riyadh, Sydney, Auckland, Toronto, Bangkok, Lima, Buenos Aires, Sao Paulo, Prague, Zurich, Kuwait City and Mexico.

China Construction Bank

China Construction Bank (CCB) is the second largest Chinese bank by total assets. It is also ranked second based on tier 1 capital in the World's Top 1,000 Banks by The Banker. With over 320 million retail and corporate customers and 347,000 employees, CCB offers high quality financial services through nearly 15,000 banking outlets, small business and personal loan centers, private banking branches and 86,767 ATMs. In 2019, CCB’s net profit and net interest income were US$38 billion and US$72 billion, respectively. As of March 31, 2020, it posted US$3.8 trillion in total assets, US$2.25 trillion in gross loans and US$2.8 trillion in customer deposits.

Agricultural Bank of China

Agricultural Bank of China Ltd (ABC), established in 1951, is the third largest bank in the People's Republic of China. Headquartered in Beijing, it serves more than 300 million customers through over 23,300 domestic outlets. The number of personal and corporate mobile banking users amounted to 258 million in 2018. The Bank's shares are listed on the Shanghai and Hong Kong Stock Exchanges. As of June 1, 2020, it had a market capitalization of $166 billion.

Bank of China

Bank of China (BOC) is one of the four largest state-owned banks in the country. With over 309,000 employees, it operates through the following key areas: Corporate and Personal Banking, Treasury Operations, Investment Banking and Insurance. BOC is China's most international bank with presence in more than 50 countries and areas.

China Development Bank

Established in 1994, China Development Bank is the fifth largest bank in the People's Republic of China as well as world's largest development bank and the largest Chinese financial institution for foreign investment. For the year ended December 31, 2018, it recorded gross loans of US$1.7 trillion, total assets of US$2.35 trillion and net profit of US$16.3 billion. It has about 40 domestic branches, offshore branch in Hong Kong as well as representative offices in London, Rio de Janeiro, Cairo, Moscow and Caracas.

Postal Savings Bank of China

Postal Savings Bank of China (PSBC) is a retail bank providing various financial services primarily to individuals, communities, small and medium-sized enterprises and rural and low income customers. With 174,400 employees, it serves more than 500 million customers through nearly 40,000 branches.

Bank of Communications

Bank of Communications (BoCom) is the sixth largest bank in China based on total assets. It is a commercial and retail bank offering personal and corporate banking products, international banking, treasury services, trustees, asset management, insurance, brokerage, reinsurance and e-banking products, leasing, and more. With over 87,800 local and overseas employees, it operates through about 3,250 domestic banking outlets, 23,000 self-service machines, and 21 overseas branches, subsidiaries and representative offices.

China Merchants Bank

China Merchants Bank (CMB), headquartered in Shenzhen, is one of the top 10 banks in the country. With over 84,000 employees, it provides a wide range of products and services to personal, corporate and SME clients. It offers savings, personal and corporate loans, housing mortgage loans, investment banking, wealth management, M&A financing, offshore banking services, life and health insurance, online banking, credit cards and more. As of March 31, 2020, the company’s total assets reached US$1.09 trillion.

Industrial Bank

Industrial Bank Co Ltd, founded in 1988, is a commercial bank headquartered in Fuzhou. It employs around 60,500 people and operates approximately 120 branches and 1,800 sub-branches across the country. As of March 31, 2020, the company's total assets amounted to US$1.04 trillion. The Bank's shares are listed on the Shanghai Stock Exchange.

Shanghai Pudong Development Bank

Shanghai Pudong Development Bank Co. Ltd (SPDB) is the tenth largest bank in China. With over 58,000 staff, it operates about 40 branches and 1,700 outlets across the country (except the Tibet Autonomous Region). It offers retail, investment and transaction banking, private banking, wealth management, asset custody and offshore services, online banking, foreign exchange, debit and credit cards and more.

Top 10 Banks in China by total assets

The list below shows the 10 largest banks in China ranked by total assets in billion U.S. dollars.

Rank Bank Total assets, US$b (03/31/2020)
1 Industrial and Commercial Bank of China 4,520.71
2 China Construction Bank 3,818.64
3 Agricultural Bank of China 3,694.16
4 Bank of China 3,384.02
5 China Development Bank 2,279.03
6 Postal Savings Bank of China 1,521.05
7 Bank of Communications 1,472.57
8 China Merchants Bank 1,093.90
9 Industrial Bank Co Ltd 1,044.04
10 Shanghai Pudong Development Bank 1,028.33