Kathmandu. An indicator of a country’s financial condition is its bank. The vast size and market capitalization of banks shows the stability and depth of that country’s economy.
The US and China dominate the world’s 15 largest banks. Jp Morgan Chase of the UNITED States topped the list with a market capitalization of $794.01 billion as of August 15. China’s ICBC is in second place with 355.86 billion.
The list includes seven U.S. banks. These banks are JP Morgan Chase, Bank of America, Wells Fargo, Morgan Stanley, Goldman Sachs, Charles Swab and Citigroup. This shows just how deep and broad the U.S. financial system is.
Similarly, china’s four largest public sector banks are also in the top 15. These banks are ICBC, Bank of China, China Construction Bank and Agricultural Bank of China. This shows the strength of China’s rapidly growing economic and banking sector.
The list also includes banks from some other countries. These banks reflect the diversity of global financial markets. Uk’s HSBC, Australia’s Commonwealth Bank and Canada’s Royal Bank of Canada have made their places in this list.
It is special for India that HDFC Bank is also included in this list. This shows the growing stature of the Indian financial sector globally. However, the market capitalization of these banks is much lower than the top banks of the US and China.
This shows the balance of power in the global banking sector. This shows that the US and China are the world’s two largest economies. They are ahead not only financially but also in terms of financial strength.
In the coming days, banks in these major economies will continue to dominate the global financial landscape.
