China has the largest economy in the world, and each year its banks process trillions of dollars in transactions. We have ranked the largest banks currently operating in China by total revenue and number of employees.
1. People’s Bank of China
The bank was founded in December 1948 and has $3,201,000,000 in its reserves. The People’s Bank of China is the top financial institution in China. It is in charge of setting monetary policy and keeping an eye on the banking industry. It has two operations offices in Beijing and Chongqing, nine regional branches in Tianjin, Shenyang, Shanghai, Nanjing, Jinan, Wuhan, Guangzhou, Chengdu, and Xi’an, 303 municipal subbranches, and 1,809 country level subbranches.
2. Agricultural Bank of China
The Agricultural Bank of China (ABC) was established in 1951 and quickly grew to become the largest financial institution in the world in terms of staff size. Its headquarters are in Beijing. This financial institution has over 24,000 locations and over 441,144 employees.
3. Industrial and Commercial Bank of China Ltd. (ICBC)
The ICBI banks employ 394,801 people, which makes them the second-largest bank in the world. The bank’s net income is $24.39 billion on total assets of $2.04 trillion. ICBC Bank was established in 1984 and is headquartered in Beijing. They had over 18,000 locations and 106 overseas branches to serve their global clientele. It is also the largest financial institution in the world in terms of market capitalization and net income.
4. Bank of China
Located in Beijing, China, the bank was established in 1912 and holds the distinction of being China’s oldest bank. The Bank of China has total assets of $1,723,000,000,000 and employs 389,827 people in China and elsewhere. The People’s Bank of China is the most profitable bank in the world. It is wholly owned by the Chinese government.
5. China Construction Bank
This bank was founded in 1954 and has its headquarters in Beijing, China. It is the fourth largest bank in the world and one of the most profitable, with a net profit of 19.92 billion dollars in 2015. With a total of 1.64 trillion U.S. dollars in assets, China Construction Bank is a multinational financial institution that employs 311,222 people in China and elsewhere. Aside from its 13,629 domestic branches, this bank also has offices in the major cities of some foreign countries. When considering market capitalization, China Construction Bank ranks as the world’s second-largest.
6. Bank of Communications
Established in Shanghai in 1908, the company has offices all over China and employs more than 79,000 people in total. Over 2,800 locations in China and elsewhere make it one of the country’s most prominent financial institutions.
7. China CITIC Bank
The Shenzhen branch of this Chinese bank was established in 1987, and its main office is located in the Guangdong province. It operates more than 40 main branches and more than 600 smaller ones across China. Bank cards, savings accounts, installment loans, foreign exchange, gold trading, and other personal financial services are the mainstays of the company’s operations.
8. China Merchants Bank
This Chinese bank’s Shenzhen office first opened for business in 1987, and its headquarters are in the city of Guangdong. It has over 40 major branches and over 600 satellite locations all over China. The company’s mainstays are personal financial services like credit cards, savings accounts, installment loans, foreign exchange, and gold trading.
9. China Minsheng Banking Corp
China Minsheng Banking Corp. began operations in 1996 and has its headquarters in Beijing. It works together with more than 700 foreign banks and has more than 200 branches all over China. In 2009, the shares of this financial institution began trading on the Hong Kong Stock Exchange.
