October 2026
Largest Commercial Banking Public Companies
Benchmark revenue and EBITDA valuation multiples for public comps like
JPMorgan Chase, ICBC China, Bank of America, Agricultural Bank of China and China Construction Bank.
 | JPMorgan Chase is a publicly traded financial services group based in New York that operates through the J.P. Morgan and Chase brands. It serves consumers, small businesses, corporations, institutional investors and government clients in the United States and internationally. Its consumer and community banking activities provide deposit, borrowing and related financial services to individuals and businesses. Commercial and investment banking operations advise clients, arrange capital, extend liquidity, manage financial risk and provide payments and asset-custody services. Asset and wealth management businesses manage investments across multiple asset classes for individuals, financial advisers and institutions. The group earns interest, banking and transaction fees, advisory fees and investment-management income from these activities. It has also made private investments through affiliated vehicles, including the indirect ownership of JPMorgan Private Capital Asia’s investment in Tianrui Cement. | $332 | +6% | $884B | $884B | 4.9x | - | ||
 | Industrial and Commercial Bank of China was founded in 1984 and is headquartered in Beijing. The bank listed its shares in mainland China and Hong Kong in 2006. It is China's largest by asset scale and by share of lending and deposits. Central Huijin Investment (China's sovereign wealth fund manager) and China's Ministry of Finance are ICBC's two largest shareholders, each with a stake of around 35%. ICBC operates over 16,000 outlets. Of these, 413 outlets are in 49 countries and regions overseas. Corporate banking, retail banking, and wholesale banking accounted for 48%, 40%, and 12% of total revenue, respectively, and 58%, 23%, and 18% of profit before tax in 2024. Overseas banking and other business contributed 13% of total revenue and 11% of profit before tax in 2024. | $1 | +13% | $419B | $419B | 3.4x | - | ||
| Bank of America is one of the largest financial institutions in the United States, with more than $3.4 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused. | $54 | +1% | $376B | $376B | 3.3x | - | ||
| As one of the Big Four banks, ABC is headquartered in Beijing. The bank evolved from a state-owned specialized bank to a state-controlled commercial bank. It was listed on the Hong Kong and Shanghai Stock Exchanges in 2010. ABC operates a more than 20,000-branch network in China, providing corporate and retail banking products and services, and carries out treasury operations for its accounts or for its customers. Shareholders Central Huijin, China's state-owned investment company, and the Ministry of Finance own 40.14% and 35.29%, respectively. Corporate banking, retail banking, and wholesale banking accounted for 39%, 55%, and 3% of total revenue in 2024, respectively. Rural banking and urban banking contributed 49% and 51%, respectively, of total revenue during the same period. | $1 | -7% | $358B | $358B | 3.3x | - | ||
 | China Construction Bank, headquartered in Beijing, is China's second-largest bank. It went public on the Hong Kong Stock Exchange in 2005 and listed shares in mainland China in 2007. Central Huijin Investment, China's sovereign wealth fund manager, is the largest shareholder with a 57% share. Fullerton Financial Holdings (a subsidiary of Temasek) is the second-largest shareholder with a 4.99% stake. CCB strives to provide customers with comprehensive financial services. The corporate banking, retail banking, and wholesale banking business segments accounted for 26%, 45%, and 27% of profit before tax, respectively, in 2024. | $2 | +67% | $336B | $336B | 3.0x | - | ||
 | Established in 1865 in Hong Kong, London-based HSBC is one of the largest banks in the world, with assets of USD 3 trillion and over 40 million customers worldwide. It operates in more than 50 countries with over 200,000 full-time staff. Hong Kong and the United Kingdom are its two largest markets. The bank offers retail, commercial and institutional banking, global banking and markets, wealth management, and private banking. | $19 | +36% | $327B | $327B | 4.6x | - | ||
| Bank of China is a publicly listed state-controlled commercial bank headquartered in Beijing, China. It was founded in 1912 and operates a domestic and international banking network with a substantial cross-border franchise. The organization serves individuals, companies, financial institutions and governments with banking and capital-markets products. Its principal activities include net interest income, service fees, trading income and investment returns. Revenue is generated mainly through deposits, lending, trade finance, payments, foreign exchange, investment banking, insurance and wealth management. Its ownership and regulatory position make it a significant participant in its market, while its operating results remain tied to the performance and risk profile of the financial services it provides. Bank of China serves B2B, B2C and B2G customers through activities spanning Commercial Banking, Investment Banking and Wealth Management. | $1 | +27% | $305B | $305B | 3.1x | - | ||
 | Royal Bank of Canada is one of the two largest banks in Canada, with around CAD 2.3 trillion in assets at the end of fiscal 2025. It is a diversified financial services company, offering personal and commercial banking, wealth management, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada and has dominant market shares. RBC also has wealth and capital market businesses in the US, UK, and other countries. RBC is a top 15 investment bank globally. | $196 | +33% | $271B | $271B | 5.8x | - | ||
 | Mitsubishi UFJ Financial Group is the largest bank in Japan in terms of market capitalization and assets, with an 8.4% share of all domestic loans as of March 2025. It is the largest non-Chinese bank group globally and has a balance sheet slightly larger than those of JPMorgan Chase and HSBC Holdings. MUFG’s operations in Japan account for around half of profit, banking in Thailand and Indonesia for around 15%, and equity-method earnings from Morgan Stanley most of the rest. | $22 | +48% | $253B | $253B | 5.4x | - | ||
| Wells Fargo is a United States financial-services company headquartered in San Francisco. It provides consumer and small-business banking, commercial banking, corporate and investment banking, and wealth and investment management. Customers include individuals, households, small businesses, large companies and institutional investors. The company earns revenue from interest on loans, service fees, investment and advisory activities and other banking products. Its operations are concentrated primarily in the United States and include branches, digital banking and corporate financial services. Wells Fargo completed the acquisition of First Interstate Bancorp in April 1996, combining two large western banking networks and creating substantial branch overlap. The current listed company has undergone later corporate combinations, but the existing record represents the buyer identity used for the historical First Interstate transaction. | $80 | -7% | $243B | $243B | 2.9x | - | ||
| Citigroup is a global financial services group whose banking businesses serve corporations, institutional investors, governments and individual customers. Its core activities encompass Services, Markets, Banking, Wealth and United States consumer cards. Services provides cash management, payments, trade and working capital solutions, together with securities and issuer services across the group’s international network. Markets supplies trading and related financial products, while Banking supports corporate financing and investment banking transactions. Wealth serves investment and financial planning needs, and the consumer card business provides credit products to individuals. The group earns income from lending, transaction and advisory services, investment activities and client asset management, using its cross-border network to connect customers with financial markets and banking services. | $129 | +23% | $216B | $216B | 2.5x | - | ||
 | Santander's focus is on retail and commercial banking. Latin America is geographically the most significant operation, with Brazil making the largest contribution. Its continental European business is mainly in Spain and Portugal. Santander's UK presence is the result of its acquisition of Abbey building society. In the US, Santander operates a vehicle finance business and a regional bank focused on the Northeastern states. | $13 | +30% | $193B | $193B | 2.9x | - | ||
| The Toronto-Dominion Bank (TD Bank Group) is a Canadian multinational bank headquartered in Toronto, formed on February 1, 1955 by the merger of the Bank of Toronto, founded in 1855, and The Dominion Bank, founded in 1869. It serves more than 28 million customers through Canadian personal and commercial banking under the TD Canada Trust brand, US retail banking through TD Bank, N.A., wealth management and insurance, and wholesale banking. TD Canada Trust serves about 15 million customers through roughly 1,060 branches, while TD Bank, N.A. serves more than 10 million customers through about 1,100 branches in 15 US states and Washington, D.C. In fiscal 2025 the bank reported revenue of CAD 67.78 billion, net income of CAD 20.54 billion and total assets of CAD 2.095 trillion, with approximately 102,000 full-time equivalent employees. It earns net interest income on loans and deposits plus fees from wealth management, insurance, cards and capital markets activity. TD was the largest shareholder of TD Ameritrade from 2006 until Charles Schwab acquired it in 2020, and in 2025 it announced the sale of its roughly 10.1% stake in Schwab for about USD 14.6 billion after a USD 3 billion anti-money-laundering settlement with US regulators in October 2024. Raymond Chun is chief executive. | $118 | +42% | $193B | $193B | 4.5x | - | ||
 | CommBank is the trading name of Commonwealth Bank of Australia, a listed bank headquartered in Sydney. It was established by the Commonwealth Bank Act in December 1911 as a government-owned institution and was privatised in stages between 1991 and 1996. The group provides retail, business and institutional banking in Australia and New Zealand, the latter through ASB Bank, and runs the Bankwest division in Western Australia. Revenue comes mainly from net interest income on home loans, business lending and deposits, together with fees and commissions on transaction services, cards and markets activity. For much of the period to 2019 it also owned wealth management, life insurance and asset management businesses, including Colonial First State, CommInsure and Sovereign, which were sold between 2018 and 2021. It has made bank acquisitions in Australia, New Zealand and Indonesia and has held minority stakes in Qilu Bank, Bank of Hangzhou and Vietnam International Bank. As of 2024 it reported about A$1.25 trillion of total assets and more than 53,000 employees. | $105 | -6% | $176B | $176B | 8.5x | - | ||
 | DBS Group is a Singapore-based banking group offering a full range of services to consumers, small to midsize enterprises, and corporations and institutions. Its main presence is in Singapore and Greater China. The acquisition of Lakshmi Vilas Bank has strengthened DBS' operations in India, and the acquisition of Citibank’s Taiwan operation should bring additional growth in Greater China. DBS' wealth management division is one of the largest in Asia, with assets under management of SGD 488 billion as of December 2025. | $60 | +46% | $172B | $172B | 9.6x | - | ||
| Sumitomo Mitsui Financial Group is roughly tied with Mizuho Financial Group for the status of Japan’s second-largest bank after Mitsubishi UFJ Financial Group. As of March 2025, its market share of domestic loans was 7.3%, compared with 8.4% for MUFG. It has a larger consumer finance business than the other two megabanks, owning 100% of the Promise business and SMBC Card. It also controls one of Japan’s largest leasing companies and SMBC Aviation Capital, one of the top five aircraft lessors globally. In securities, its SMBC Nikko unit is Japan’s third-largest retail broker, although SMFG has lagged somewhat in institutional securities business and asset management. | $21 | -22% | $159B | $159B | ||||
| China Merchants Bank was founded in 1987 and is headquartered in Shenzhen. The bank is China's seventh-largest listed bank by assets, with the largest distribution network among China's joint-stock banks. CMB's network has been expanding rapidly. Its outlets are located mainly in China's more developed areas, including the Pearl River and Yangtze River deltas. The firm has 18% and 82% of its shares listed on the Hong Kong and Shanghai exchanges, respectively. It has no foreign strategic investors. China Merchants Group is its largest shareholder, with a 30% stake. Retail banking, corporate banking, and wholesale banking accounted for 49%, 51%, and 0% of total profit before tax, respectively, and 40%, 58%, and 2% of total revenue in 2024. | $6 | +7% | $157B | $157B | ||||
| Despite its Spanish origins, Banco Bilbao Vizcaya Argentaria generates only around one-fourth of its profits in Spain. We expect that on a normalized basis, BBVA's market-leading Mexican bank should contribute half of its earnings, while its Turkish operation should account for another 15%. The balance of BBVA's earnings comes from smaller operations in South America. BBVA is overwhelmingly a retail and commercial bank, with corporate and investment banking forming a minor part of the overall business. BBVA also offers insurance and investment products through its banking networks. | $27 | +33% | $147B | $147B | ||||
 | UBS Group is a publicly listed Swiss banking and wealth-management group headquartered in Zurich. Its businesses span global wealth management, personal and corporate banking in Switzerland, asset management and investment banking. The group serves individuals, family offices, corporations and institutional investors across major financial markets. Revenue comes from advisory and asset-management fees, net interest income, securities trading and underwriting, and other banking services. UBS had controlled UBS Securities since increasing its interest above 50% in 2018. The 2025 acquisition of BSAM's remaining 33% raised UBS's ownership of the mainland Chinese securities company from 67% to 100%. That purchase consolidated a regulated operating subsidiary rather than representing a passive portfolio trade. | $48 | +24% | $146B | $146B | ||||
 | UniCredit is one of the two largest Italian retail and commercial banks, but roughly half of its operations are outside Italy. UniCredit has a strong presence in Germany, Austria, and Central and Eastern Europe. It generates most of its revenue from retail banking but also maintains a sizable corporate and investment bank. It is is expanding its reach into asset management and insurance. | $89 | +20% | $134B | $134B | ||||
| Mizuho Financial Group is roughly tied with megabank peer Sumitomo Mitsui Financial Group for the status as Japan’s second-largest bank after Mitsubishi UFJ Financial Group. As of March 2024, Mizuho’s market share of domestic loans was 6.8%, compared with 7.2% for SMFG and 8.0% for MUFG. In Japan, Mizuho has more of a corporate focus than SMFG, which has a larger retail business. Its overseas weighting is slightly smaller than that of MUFG. Unlike its two Japanese megabank peers, which own foreign banks outright or hold noncontrolling stakes in local banks overseas, Mizuho expanded in recent years beyond its traditional Japanese borrowers, mainly through its core banking and securities units, focusing on the financing needs of global multinational corporations. | $53 | +60% | $129B | $129B | ||||
| Intesa Sanpaolo is an Italian banking group resulting from the merger of Banca Intesa and Sanpaolo IMI in 2007. The Italian segment still accounts for by far the most of its earnings. Still, Intesa also has a growing international presence, focusing on some smaller countries in Central and Eastern Europe. Intesa has an enviable market position in the Italian savings market that it services through its private banking, asset management and life insurance operations, which accounts for around 25% of its revenue. While Intesa does have a sizable corporate banking business, it has limited exposure to securities trading and underwriting. | $7 | +11% | $124B | $124B | ||||
| Capital One is a diversified financial services holding company headquartered in McLean, Virginia. Originally a spinoff of Signet Financial’s credit card division in 1994, the company is now primarily involved in credit card lending, auto loans, and commercial lending. Following the acquisition of Discover in 2025, the firm also has a modest personal loan business, though credit card lending provides the majority of the bank's revenue. | $195 | -12% | $119B | $119B | ||||
 | HDFC Bank Ltd is an Indian bank. It operates in the following segments: Treasury, Retail banking, Wholesale banking, and Other banking business. The maximum revenue for the company is generated from its Retail banking segment, which serves retail customers through its branch network and other channels. This segment raises customer deposits and provides loans and other services to customers using different product groups. Its other operations include providing wholesale banking services to corporates, government entities, and other enterprises, generating income from its treasury operations, and performing para-banking activities such as offering credit cards, debit cards, etc. Geographically, the company generates a majority of its revenue from its operations in India. | $7 | -33% | $116B | $116B | ||||
| Bank of Montreal is a diversified financial-services provider based in North America with over CAD 1.47 trillion in assets by the end of fiscal 2025. BMO operates four business segments: Canadian personal and commercial banking, US personal and commercial banking, wealth management, and capital markets. The bank's operations are primarily in Canada, with a material portion also in the US. | $166 | +32% | $115B | $115B | ||||
 | BNP Paribas is a French banking group headquartered in Paris, formed when the merger of Banque Nationale de Paris and Paribas was completed on 22 May 2000. Its roots go back to the Comptoir National d'Escompte de Paris, created in 1848, and to the Banque de Paris et des Pays-Bas, created in 1872. It operates in more than seventy countries with roughly 180,000 employees and is organised around Retail Banking and Services and Corporate and Institutional Banking. It is the largest banking group in France and the euro zone and among the ten largest banks in the world by assets. Its subsidiaries include BNP Paribas Fortis, Banca Nazionale del Lavoro, Cetelem, Arval and Hello bank!. It took part in the EUR 25 million financing of the hydrogen-station maker Atawey in January 2023. | $104 | +34% | $114B | $114B | ||||
| OCBC Bank is a Singaporean multinational banking and financial services group headquartered at OCBC Centre in Singapore. It was formed on 31 October 1932 through the merger of Chinese Commercial Bank, Ho Hong Bank and Oversea Chinese Bank, led by Tan Ean Kiam and Lee Kong Chian, whose family remains the largest shareholder with about 28%. OCBC provides consumer and business banking, corporate and institutional banking and securities brokerage, private banking through Bank of Singapore, asset management through Lion Global Investors, and life and health insurance through Great Eastern Holdings, in which it raised its stake to 93.72% in October 2024 after a privatisation offer. With S$625.1 billion in assets at the end of 2024, it was the second-largest bank in Southeast Asia by assets. It operates more than 400 branches and representative offices in 19 countries, with major subsidiaries including OCBC Bank (Malaysia), PT Bank OCBC NISP in Indonesia, OCBC China and OCBC Bank (Hong Kong). Bank of Singapore was formed in 2010 from OCBC's purchase of ING Asia Private Bank, and in 2017 OCBC bought National Australia Bank's private wealth business in Singapore and Hong Kong. The bank carries Aa1 and AA credit ratings from Moody's and Standard & Poor's. | $25 | +89% | $111B | $111B | ||||
| The Bank of Nova Scotia is a global financial services provider with over CAD 1.46 trillion in assets as of the end of fiscal 2025. The bank has four major business segments: Canadian banking, international banking, global wealth management, and global banking and markets. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank's international operations span numerous countries and are more concentrated in the Latin America region. | $91 | +38% | $111B | $111B | ||||
 | Al Rajhi Bank is an Islamic bank with a network of over 500 branches. Its segments include the Retail segment which includes accepting individual customer deposits, providing credit facilities, customer debit current accounts, fees from banking services, and remittance business; the Corporate segment which incorporates deposits of VIP, corporate customer deposits, credit facilities, and debit current accounts, Treasury segment through which it offers treasury services, Murabaha with SAMA and international Mutajara portfolio; and Investment services and brokerage and other that incorporates investments of individuals and corporate in mutual funds, local and international share trading services and investment portfolios. | $17 | -9% | $102B | $102B | ||||
| Canadian Imperial Bank of Commerce is Canada's fifth-largest bank with over CAD 1.1 trillion in assets at the end of fiscal 2025. It operates four business segments: Canadian retail and business banking, Canadian commercial banking and wealth management, US commercial banking and wealth management, and capital markets. It serves approximately 14 million personal banking and business customers, primarily in Canada and the US. | $111 | +34% | $101B | $101B | ||||
 | Itaú Unibanco is the largest privately held bank in Brazil, the result of the 2008 merger between Banco Itaú and Unibanco. In addition to Brazil, the bank has significant operations in Chile, Colombia, Argentina, Uruguay, and Paraguay. Itaú's commercial and consumer loans account for 35% and 43% of the bank's total loans, respectively, while foreign loans account for 22% of its portfolio. The bank also operates the fifth-largest insurer in Brazil and is the second-largest asset manager in the country, giving it broad reach over the Brazilian financial system. | $9 | +31% | $99B | $99B | ||||
| Bank of Communications, or Bocom, is the only nationwide state-owned bank with its headquarters in Shanghai. As one of China's four oldest banks, Bocom became China's first state-owned shareholding commercial bank in 1987. Today, Bocom is amid a strategic transformation, building itself into a global wealth-management bank with wide-ranging financial operations, including insurance, brokerage, trust, and asset management.It operates a comprehensive financial services platform that includes corporate finance, personal finance, and money market operations. Bocom is known for its strategic importance in the process of RMB internationalization, particularly with its role as one of the first banks involved in the Cross-Border Interbank Payment System, or CIPS. | $1 | +15% | $99B | $99B | ||||
| Bank of New York Mellon is a global investment company involved in managing and servicing financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors, delivering investment management and services in 35 countries and more than 100 markets. BNY is the largest global custody bank in the world, with $59.3 trillion in under custody or administration (as of December 2025), and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investments. BNY's asset-management division manages about $2.2 trillion in assets. | $145 | +35% | $99B | $99B | ||||
 | The merger of the Dutch postal bank and NN Insurance in 1991 created ING. Through a series of further acquisitions, ING has built up a global footprint. The 2008 financial crisis forced ING to seek government support - a precondition of which was that ING should separate its banking and insurance activities, which saw ING revert to being solely a bank. ING has market-leading banking operations in the Netherlands and Belgium, and a range of digital banks across Europe and Australia. Its global wholesale banking operation is primarily focused on lending. | $35 | +38% | $99B | $99B | ||||
| ICICI Bank Ltd provides banking services. The company's operating segments include Retail Banking; Wholesale Banking; Treasury, Life insurance, Other Banking Business, and Others. The company generates maximum revenue from the Retail Banking segment which includes exposures of the Bank, which satisfy the four qualifying criteria of a regulatory retail portfolio as stipulated by RBI guidelines on the Basel III framework as well as includes income from credit cards, debit cards, third party product distribution, and the associated costs. Geographical segments include Domestic operations and Foreign operations. The company generates the majority of its revenue from the domestic operations. | $14 | -10% | $98B | $98B | ||||
| Postal Savings Bank of China Co Ltd is headquartered in Beijing. The bank provides personal and corporate banking services that include savings business, micro loan, bank cards, settlement businesses, and others. | $1 | -15% | $95B | $95B | ||||
| CaixaBank SA is a Spanish bank that combines banking, insurance, and equity investment businesses. Its operations include retail banking, corporate banking, cash management, surplus management, and the allocation of income from financing the equity investment business. It consists of business segments of the Banking and insurance business, BPI, and Corporate center. The majority of its revenue comes from the Banking and insurance business. The company has a geographic presence in Spain, Portugal, America, the Rest of the European Union, and the Rest of the world. In which Spain generates the majority of its revenue. | $14 | +28% | $94B | $94B | ||||
| State Bank of India is a bank in India. The bank's business segments include Treasury; Corporate/Wholesale Banking; Retail Banking and Other Banking businesses. The bank generates maximum revenue from the Retail Banking segment. The Retail Banking Segment comprises retail branches, which include Personal Banking activities including lending activities to corporate customers having banking relations with these branches. This segment also includes the agency business and ATMs. Geographically, it derives a majority of its revenue from India, It also operates in Foreign Countries. | $10 | -6% | $92B | $92B | ||||
| With assets of around $695 billion, U.S. Bancorp is one of the largest regional banks in the US with its footprint in 26 states. The bank’s branch network is mostly in Midwestern and Western markets. U.S. Bancorp has a comprehensive product set, with offerings in retail and commercial banking, credit cards, mortgages, payment services, trust, wealth, and capital market services. | $58 | +23% | $90B | $90B | ||||
| PNC Financial is one of the three super-regional banks in the US, with around $574 billion in total assets at the end of Dec. 30, 2025. Headquartered in Pittsburgh, Pennsylvania, PNC Financial has a coast-to-coast branch network, with a strong presence in the US Midwest and Northeast. It closed its acquisition of FirstBank in January 2026, which added around $26 billion in assets to its balance sheet, and PNC is currently expanding in the Southern and Western regions of the US. The bank provides a diversified set of financial services in retail banking, commercial banking, card and treasury management, asset management, and investment banking. PNC derived around 38% of revenue from fee income and 62% from net interest income in 2025. | $221 | +21% | $88B | $88B | ||||
| National Australia Bank is an Australian bank headquartered in Melbourne and listed on the Australian Securities Exchange under the code NAB. It was formed on 1 October 1981 through the merger of the National Bank of Australasia and the Commercial Banking Company of Sydney. The group provides business and private banking, personal banking and corporate and institutional banking in Australia and New Zealand, where it owns Bank of New Zealand, and operates international branches. For the year to September 2025 it reported statutory net profit of A$6.76 billion and cash earnings of A$7.09 billion, with about 10 million customers and more than 41,000 colleagues. Revenue comes mainly from net interest income on lending and deposits, together with fees and commissions. NAB has made acquisitions and disposals across banking, wealth management, life insurance and funds management, and invests in start-ups through its corporate venture arm, NAB Ventures. | $27 | -6% | $82B | $82B | ||||
| Westpac is an Australian bank headquartered in Sydney and listed on the Australian Securities Exchange. It was founded in 1817 as the Bank of New South Wales, the first bank established in Australia, and took the Westpac name after its 1982 merger with the Commercial Bank of Australia. The group serves consumer, business and institutional customers in Australia and New Zealand under the Westpac, St.George, BankSA, Bank of Melbourne and BT brands, and operates Westpac Pacific in Fiji and Papua New Guinea. Revenue comes mainly from net interest income on lending and deposits, together with fees and commissions from transaction banking, wealth products and financial markets activity. In 2025 the group reported net profit of A$6.93 billion on total assets of A$1.13 trillion, and it employed about 35,000 people serving around 13 million customers. Since 2020 Westpac has sold its general and life insurance, lenders mortgage insurance and asset management businesses to concentrate on banking in Australia and New Zealand. | $24 | -6% | $81B | $81B | ||||
| Lloyds is a retail and commercial bank headquartered in the United Kingdom. The bank operates via three business segments: retail, commercial banking, and insurance and wealth. In retail, Lloyds offers primarily mortgages (66% of loan portfolio), credit cards, and current accounts to its customers. Its commercial banking operation provides lending, transaction banking, working capital management, and debt capital market services to large companies and financial institutions in the UK. Insurance and wealth round out the product lineup with life and property insurance as well as pension solutions and high-net-worth asset management services. | $1 | +17% | $79B | $79B | ||||
| Barclays is a British universal bank serving consumer, corporate and institutional customers. Its operations include United Kingdom consumer banking, corporate banking, private banking and wealth management, investment banking and a specialist United States consumer-bank business. Retail products include bank accounts, savings, mortgages, credit cards and other lending services. The corporate and investment-banking businesses supply financing, advisory services, market access and risk-management products to companies and financial institutions. Barclays earns interest income on lending and other financial assets, together with fees and trading-related income from its service businesses. The United States consumer operation focuses on co-branded credit cards and partnerships across travel, retail and other customer segments. The group also manages private-wealth relationships and investment services. Barclays Capital Principal Investments was a United Kingdom subsidiary through which the group participated in historical principal-investment transactions, including Northgate Information Solutions. | $6 | +10% | $78B | $78B | ||||
| ANZ Group is the owner of one of Australia's four major banks and provides retail, business, and institutional banking services to customers in Australia, New Zealand, and Asia-Pacific. The super-regional Asian strategy was de-emphasized, with management focusing on the higher-returning businesses in Australia and New Zealand. ANZ Bank still retains a tilt to its Asia-centric strategy, but is now more balanced, better capitalized and a simpler bank. | $26 | +8% | $78B | $78B | ||||
| The Netherlands accounts for around 90% of ABN Amro's operating profit. Operationally, retail and commercial banking contributes the majority of its operating profit, while ABN Amro continues to reduce its exposure to corporate and investment banking. It views private banking as one of its key growth areas. | $47 | +58% | $78B | $78B | ||||
| Japan Post Bank Co Ltd is the successor of the postal-savings system dating to the Meiji era. It was partially privatized in 2015, when the government sold to the public an 11% stake in parent company Japan Post Holdings, which in turn sold 11% stakes in Japan Post Bank and Japan Post Insurance to the public. Japan Post Bank is now 64% owned by Japan Post Holdings, which is majority owned by the government. The law requires Japan Post Holdings to divest itself of Japan Post Bank eventually. Japan Post Bank has 235 direct branches and also accepts deposits and sells investment products at more than 24,000 post offices across the country through a sales-agency agreement with Japan Post (an unlisted subsidiary of Japan Post Holdings). | $22 | +92% | $77B | $77B | ||||
| China Citic Bank is headquartered in Beijing and is the ninth-largest commercial bank in China. It offers a full range of commercial banking services, with 1,459 outlets in 153 cities in China and branches in Hong Kong, Macao, New York, Los Angeles, and Singapore, as of mid-2024. The bank was founded in 1987 and is a major subsidiary of Citic Group, a leading state-owned conglomerate in China. | $1 | +25% | $72B | $72B | ||||
| NatWest Group derives around 90% of its total income from the United Kingdom. The bank operates a retail, commercial, and private bank in the UK, offering clients lending and payment services as well as asset management services. | $9 | +14% | $70B | $70B | ||||
| Bank of China Hong Kong, or BOCHK, is a subsidiary of Bank of China. It is the second-largest bank in Hong Kong in terms of loan and deposit market shares. Although BOCHK is legally separate from its parent, it maintains close relationships with it in management, administration, and business relations. The two companies also cooperate in several areas, including the reselling of Bank of China's insurance and securities services. Bank of China holds a 66% stake in BOCHK. | $6 | +32% | $68B | $68B | ||||
 | Deutsche Bank is a German multinational universal bank headquartered in the Twin Towers in Frankfurt and listed on the Frankfurt and New York stock exchanges. It was founded in Berlin on 10 March 1870, with Adelbert Delbrück and Ludwig Bamberger regarded as its key founders, and grew through acquisitions including Disconto-Gesellschaft in 1929, Morgan Grenfell in 1990, Bankers Trust in 1998 and Deutsche Postbank in 2010. The bank serves corporations, institutions, governments and private clients with corporate and investment banking, trading, retail and private banking, wealth management and asset management, the last through its majority stake in DWS Group. It earns net interest income from lending and deposits and fees and commissions from advisory, underwriting, trading, payments and asset management. In 2025 it reported revenue of €32.1 billion, net income of €7.1 billion and total assets of €1,435 billion, with 89,879 employees. Deutsche Bank has been designated a global systemically important bank since 2011 and is directly supervised by the European Central Bank. Christian Sewing is chief executive and Alexander Wynaendts chairs the supervisory board. | $35 | -3% | $66B | $66B | ||||
| Macquarie Group is an Australian multinational investment banking and financial services group headquartered in Sydney and listed on the Australian Securities Exchange. It operates through four groups: Macquarie Asset Management, Banking and Financial Services, Commodities and Global Markets, and Macquarie Capital, its advisory and principal investment arm. It serves institutional, corporate, government and retail clients, and is one of the world's largest infrastructure asset managers, with A$938.3 billion of assets under management and total assets of about A$403 billion in 2024. The group employs more than 20,000 staff in 34 markets and earns fees and commissions, net interest income and trading and investment income. Its subsidiaries include Macquarie Bank Limited and investments in infrastructure businesses such as Southern Water and Arqiva. Macquarie was founded on 10 December 1969 in Sydney as Hill Samuel Australia, a subsidiary of the UK's Hill Samuel & Co. | $170 | +19% | $65B | $65B | ||||
 | Nordea is a universal Nordic bank that generates most of its income through vanilla lending products such as mortgages, household loans, and corporate loans. The bank is also a leading equity and debt underwriter and issuer, specialized in the Nordics, generating roughly one tenth of the group's income. Nordea also offers life and pension, savings and asset management, as well as private banking services to high-net-worth individuals. It operates primarily in Sweden, Denmark, Finland, and Norway. | $19 | +12% | $65B | $65B | ||||
| Standard Chartered Bank was established in 1853 by Royal Charter in the United Kingdom, with holding company Standard Chartered PLC incorporated in 1969. The bank is domiciled in the United Kingdom, and provides banking services across over 50 countries and territories, primarily in Asia, Africa, the Middle East, and the UK. The bulk of the business is in corporate and transaction banking, financial markets, and corporate finance. The bank has strong retail franchises focusing on the affluent segment in Hong Kong, Singapore, and certain countries in Africa. The bank also launched a ventures division to focus on financial technology, including digital banks in Hong Kong and Singapore, online payment, and digital assets. | $29 | +41% | $63B | $63B | ||||
| Saudi National Bank is a financial institution in Saudi Arabia. It provides a range of banking and investment management services. The company also provides non-special commission based banking products in compliance with Shariah rules. It has four reportable segments: Retail, Wholesale, Capital Market, and International. The majority of the company's revenue is derived from the Wholesale segment, which provides banking services including all conventional credit-related products as well as financing products to small sized businesses, medium and large establishments and companies. Geographically, it has a presence in the Kingdom of Saudi Arabia, GCC and Middle East, Europe, Turkey, North America and Other countries. | $11 | 0% | $63B | $63B | ||||
 | First Abu Dhabi Bank PJSC is a bank that provides extensive range of tailor-made solutions, and products and services, to provide a customized experience. The company's segment includes Investment Banking; Corporate and commercial Banking; Consumer Banking; Global markets - trading; Private Banking and Head Office. It generates maximum revenue from the Investment Banking segment. The company offers banking and financing solutions, including corporate and Islamic finance, capital markets, transaction banking, trade, liquidity and cash management services along with a broad range of risk management solutions across credit, rates, FX and money market products. | $5 | +12% | $59B | $59B | ||||
| Credit Agricole S.A. is majority-owned by a group of 39 mutually owned, regional French banks, and together, they form the Credit Agricole Group, the largest cooperative bank globally. Credit Agricole S.A. houses all of Credit Agricole Group's activities, excluding the core French retail and commercial banking operations and including corporate and investment banking, its insurance operations, its international operations, notably in Italy, LCL, a separately branded French retail bank, and Credit Agricole S.A.'s majority interest in individually listed asset manager Amundi. Credit Agricole S.A. also acts as the central bank for the group. | $19 | +5% | $58B | $58B | ||||
| Industrial Bank was founded in 1988 and started as a regional bank in Fujian province. It has grown to become the second-largest joint-stock bank in China with more than CNY 10 trillion in assets as of December 2024. The bank offers a full range of commercial banking services. Its specialty is bank-bank cooperation. It also operates a proprietary “Yinyin platform” that offers complete financial service solutions to other financial institutions such as payments and settlements, wealth management, and technology output services. | $3 | -5% | $57B | $57B | ||||
| Truist Financial is one of the three super-regional banks in the US, with around $565 billion in assets as of the fourth quarter of 2025. Truist emerged from the combination of BB&T and SunTrust in 2019. Based in Charlotte, North Carolina, the bank’s footprint is largely in the Mid-Atlantic and Southeast. Apart from retail and commercial banking operations, the bank also offers online and point-of-sale consumer lending, cards, wealth management, investment banking, and other banking services. | $46 | +4% | $57B | $57B | ||||
 | KBC was formed in 1998 by the merger of Belgian commercial bank Kredietbank, cooperative farmers bank CERA Bank, and cooperative insurer ABB Verzekering. KBC offers banking, insurance, and investment products. Belgium and the Czech Republic account for most of KBC's profits, while the bank has smaller operations in Hungary, Slovakia, and Bulgaria. | $141 | +17% | $56B | $56B | ||||
| United Overseas Bank is a diversified financial institution based in Singapore. Its regional reach spans Greater China and Southeast Asia. Key countries include Malaysia, Thailand, and Indonesia. Singapore, its core market, makes up around 50% of its total assets. The group offers a wide range of services, including consumer, commercial and corporate, and investment banking; corporate finance; treasury services; and wealth management, insurance, and brokerage services. | $34 | +26% | $56B | $56B | ||||
| National Bank of Canada is a Canadian commercial bank headquartered at 800 Saint-Jacques Street West in Montreal, Quebec. It is the sixth-largest commercial bank in Canada and the largest bank in Quebec, serving about 3.1 million clients through personal and commercial banking, wealth management and capital markets businesses, with products ranging from mortgages and credit cards to insurance, equities trading and investment management. The bank traces its roots to the Banque Nationale, chartered on May 4, 1859 by francophone businessmen, and took its current form in November 1979 through the merger of Banque Canadienne Nationale and the Provincial Bank of Canada. In fiscal 2025 it reported revenue of CA$13.98 billion, net income of CA$4.02 billion, total assets of CA$576.9 billion, assets under management of CA$194.5 billion and 33,200 employees. Outside Canada it owns ABA Bank in Cambodia, acquired in stages from 2016, and has operated Natbank branches in Florida. In February 2025 it completed the roughly $5 billion acquisition of Canadian Western Bank, extending its reach beyond Quebec. The bank is a TSX 60 constituent and is led by chief executive Laurent Ferreira. | $142 | +27% | $54B | $54B | ||||
| Société Générale is a diversified European bank whose largest division is its corporate and investment bank, anchored by a well-regarded equity franchise. Its French retail operations include both the traditional branch network and fast-growing digital bank Boursorama. Internationally, Société Générale ranks among the largest banks in the Czech Republic and Romania. It also holds dominant positions in several African markets, though with a smaller earnings contribution. The group is a leading player in vehicle and equipment leasing through ALD Automotive. | $75 | +18% | $54B | $54B | ||||
| Emirates NBD PJSC provides banking services. The company's operating segment includes Corporate and Institutional Banking; Retail Banking and Wealth Management; Global Markets and Treasury activities; DenizBank and others. It generates maximum revenue from the Retail Banking and Wealth Management segment. The Retail Banking and Wealth Management segment represents retail loans and deposits, private banking and wealth management, equity broking services, asset management, and consumer financing in the UAE and Egypt. | $8 | +10% | $53B | $53B | ||||
 | Erste Group Bank AG. is a financial services provider. The banking operations of the company are retail and corporate customer business in the eastern part of the European Union, including Austria. The geographical areas consist of two core markets, Austria and Central and Eastern Europe and a residual segment Other comprises the remaining business activities of the bank outside its core markets as well as the reconciliation to the consolidated accounting result. The company's operating segments include Retail, corporations, Group Markets, Asset/Liability Management and Local Corporate Center, Savings Banks, and Group Corporate Center. | $128 | +24% | $50B | $50B | ||||
| Commerzbank operates primarily in Europe. Germany accounts for about 70% of the total income. The bank operates two business segments: private and small-business customers, as well as corporate clients. In its private and small-business segment, the group operates a branch network, a mobile bank focused on the Polish market, an online broker, and an asset manager for physical assets. Its corporate client business provides cash management and trade finance solutions to small and medium-size enterprises and large companies. | $44 | +21% | $48B | $48B | ||||
| Shanghai Pudong Development Bank Co Ltd provides various banking services such as corporate banking, personal banking, and business services related to financial markets. The bank has its branches and business offices in China and other countries. | $1 | -12% | $47B | $47B | ||||
 | Kuwait Finance House is an Islamic banking institution. It provides a range of banking Sharia-compliant products and services which include real estate, trade finance, investment portfolios, commercial, retail, and corporate banking. The company's segments are Treasury, Investment, Retail & Private Banking, and Corporates Banking. The Treasury and Corporate Banking gains maximum revenue, and it operates in Kuwait, Middle East, European, and others. | $2 | +2% | $46B | $46B | ||||
| Fifth Third Bancorp is a midsize regional bank in the US, with total assets of over $210 billion as of December 2025. The bank is set to close its acquisition of Comercia on Feb. 1, 2026. Headquartered in Cincinnati, Ohio, Fifth Third has a strong presence in the US Midwest and is currently expanding in the US Southeast. The bank provides a diversified set of financial services in retail banking, commercial banking, card and Treasury management, wealth and asset management, and capital markets. | $51 | +23% | $46B | $46B | ||||
 | DNB Bank ASA is a Norwegian financial services group. About one fourth of its income derives from its international business, including other parts of Europe, Asia, and the Americas. The group offers a full range of financial services, including loans, savings, advisory services, insurance, and pension products for retail and corporate customers. Just under half of its credit exposure is to personal customers, overwhelmingly in residential mortgages. The other portion of its credit exposure is to large corporations, diversified across an array of industries, notably oil and gas, shipping, and commercial real estate. The group's strategies emphasizes cost efficiency and customer service. | $32 | +25% | $46B | $46B | ||||
 | Swedbank is one of the oldest banks in Sweden, where it derives the lion's share of its income. The bank is the result of merging savings and union banks in Sweden in the aftermath of the financial crisis in the early 1990s in Sweden. The remaining independent savings banks in Sweden remain in close collaboration with Swedbank, acting as an additional product distribution channel to Swedbank and sharing Swedbank's IT systems and part of its development costs. In addition, the bank operates in the three Baltic states: Estonia, Latvia, and Lithuania. Swedbank has a market-leading position in the Baltics, with a market share ranging from 20% to 55% in retail banking, where it generates 16% of revenue. | $40 | +32% | $45B | $45B | ||||
| Skandinaviska Enskilda Banken is a Swedish universal bank with a strong focus on the corporate lending sector. The bank operates in the Nordics, the Baltics, Germany, and the United Kingdom but derives the majority of its operating profits from Sweden. SEB specializes in corporate lending, particularly to large corporations. Additionally, it serves large midcorporate and multinational companies, financial institutions, and about small and medium-size enterprises. It also serves about 4 million private customers in Sweden and the Baltics. The bank offers asset management, life insurance, and to a lesser extent private banking services to its clients. | $23 | +20% | $45B | $45B | ||||
 | Founded in 1871, Danske Bank's headquarters are in Copenhagen, Denmark. It is the largest Danish bank with a dominant market share of 24% in lending and 27% in deposits. It operates through 144 branches in Denmark, Finland, Sweden, Norway, and Northern Ireland. | $55 | +24% | $45B | $45B | ||||
 | KB Financial Group Inc. is a financial holding company in Korea. The company operations include Kookmin Bank, one of the commercial banks in Korea. The company's subsidiaries collectively engage in a broad range of businesses, including commercial banking, credit cards, asset management, non-life and life insurance, capital markets activities, and international banking and finance. The company's segments include the Banking business, Securities business, Non-life Insurance business, Credit card business, and Life Insurance business. The Group generates the majority of its revenue from the Banking business. | $124 | +51% | $43B | $43B | ||||
| Kotak Mahindra Bank Ltd is an Indian banking and finance group offering personal finance solutions, transaction banking, operating lending verticals, managing IPOs, and providing working capital loans. The company's operating segment includes Treasury, (Balance Sheet Management Unit)BMU and Corporate Centre, Retail Banking, Corporate/Wholesale Banking, Vehicle Financing, Other Lending Activities, Broking, Advisory and Transactional Services, Asset Management, and Insurance. It generates the highest revenue from the Retail Banking segment. Some of its services include savings accounts, safe deposit locker, recurring deposits, sweep-in facility, debit and credit cards, home loans, life insurance, portfolio management services, and others. | $4 | -8% | $43B | $43B | ||||
| Japan Post Holdings Co Ltd operates as a holding company. The firm, through its subsidiaries, provides postal, banking, and insurance services in Japan. The group’s reportable segments are the Postal and Logistics Business, Post Office Counter Business, International Logistics Business, Real Estate Business, Banking Business, and Life Insurance Business. The majority of its revenue is derived from the Life Insurance segment. | $16 | +59% | $43B | $43B | ||||
 | PT Bank Central Asia Tbk is an Indonesia-based banking service provider operating as a Sharia bank. The bank provides various financial solutions to its customers through its inter-branch links, ATM network, and electronic banking services. It offers loans, deposit accounts, mutual fund investments, fixed income products, and credit facilities, among other banking products and services. Its segments are Loans, which derives maximum revenue, Treasury, and Others. The customer base mainly includes individuals, small and medium businesses, and corporations. Its business segment is classified into five geographic areas, which are Sumatera, Java, Kalimantan, East Indonesia, and overseas operations. | $0 | -34% | $42B | $42B | ||||
 | CTBC Financial Holding Co Ltd is a diversified financial services holding company. The company's segment includes Institutional banking, Retail banking, Life insurance, and others. It generates maximum revenue from the Institutional banking segment. The operating activities of Institutional Banking are commercial banking and capital market activities, which provide clients with flexible and tailor-made financing services and the design, supply, and proprietary trading of various financial products. Geographically, it derives a majority of its revenue from Taiwan. | $2 | +51% | $42B | $42B | ||||
| Axis Bank Ltd is a full-service bank operating mostly in India. The bank operates under four segments: treasury, corporate/wholesale banking, retail banking, Digital Banking, and other banking. Treasury operations include security investments and derivative trading. Corporate/wholesale banking solutions include mid/large corporate relationships, corporate advisory, project appraisals, and syndication. Retail banking solutions include lending to individual/small businesses, savings accounts, debit and credit cards, ATMs, and mobile banking, and personal loans. Other banking operations include third-party product distribution and other banking transactions. It derives maximum revenue from Retail Banking. | $13 | -9% | $39B | $39B | ||||
 | Qatar National Bank SAQ along with its subsidiaries provides conventional and Islamic banking services. The company's operating segment includes Corporate Banking; Consumer Banking; Asset and Wealth Management and International Banking. It generates maximum revenue from the Corporate Banking segment. The corporate banking segment includes loans, deposits, investment and advisory services and other products and services with corporate customers and undertaking the Group's funding and centralized risk management activities through borrowings, issue of debt securities, use of derivatives for risk management purposes, and investing in liquid assets such as short-term placements and corporate and government debt securities. | $4 | -15% | $39B | $39B | ||||
| Banca Monte dei Paschi di Siena S.p.A. is a banking group operating in Italy, and mainly providing traditional retail and commercial banking services. The group is also active in other business areas such as leasing, factoring, corporate finance, and investment banking through its various subsidiaries. A majority of the group's net revenue is net interest income, followed by net fees and commission income. Loans to customers overwhelmingly constitute a majority of the bank's earning assets, approximately half of which are mortgages. The company's segment includes Retail banking, Wealth Management, Corporate banking, and Large Corp. & Investment Banking. The company generates majority of revenue from Retail and corporate banking segment. | $13 | +45% | $39B | $39B | ||||
 | PKO Bank Polski SA is a universal banking group operating predominantly in Poland. Its various products and service offerings include retail deposits, mortgage loans, consumer finance, corporate deposits, corporate loans, and asset management, among others. The majority of its net revenue is net interest income, overwhelmingly derived from customer loans. Along with its subsidiaries, the company operates in three main segments Retail, Corporate and Investment, and Transfer Center and Other. Maximum revenue is generated from the Retail segment, which offers various services to individuals as part of retail, private, and mortgage banking, and to legal entities as part of corporate banking. | $30 | +48% | $38B | $38B | ||||
| ORIX Corp is a diversified financial services company with operations in Corporate Financial Services, Maintenance Leasing, Real Estate, PE Investment and Concession, Environment and Energy, Insurance, Banking and Credit, Aircraft and Ships, ORIX USA, ORIX Europe, Asia, and Australia and engages in various other fee businesses by providing products and services aligned with customer needs to its core customer base of domestic small and medium-sized enterprises. Orix's numerous divisions finance leases of large-ticket items like ships, airplanes, and technology equipment. The company generates the majority of its revenue from Corporate Financial Services and Maintenance Leasing operations and Real Estate operations. | $36 | +48% | $38B | $38B | ||||
| Banco Bradesco is Brazil's second-largest private bank, with about 10%-15% of deposits, and the largest insurance provider in Brazil, with roughly 20%-25% market share. The bank is majority controlled by the Bradesco foundation, a private nonprofit institution focused on education. The bank is also a major asset manager with high-single-digit market share. In 2016, Bradesco acquired the Brazilian operations of HSBC. | $3 | -4% | $37B | $37B | ||||
| Shinhan Financial Group Co Ltd is a Korean banking group. Along with its subsidiaries the company provides, comprehensive financial services which consist of commercial banking services, credit card services, securities services, insurance, credit services, and asset management services, including securities investment trust management, investment advisory, call transaction, domestic and foreign private equity fund business, and other services. The majority of the revenue is generated from its Banking business which includes retail, corporate, international, and other banking services the company offers. | $77 | +51% | $36B | $36B | ||||
 | Bank Leumi Le-Israel BM is an Israeli banking and financial services company. The products and services offered by the company include consumer loans, mortgages, commercial banking services, and capital market services, among others. The company organizes itself into below operating segments: Banking; Mortgages; Commercial; Corporate banking; Real estate; Capital markets and Others. The company generates the majority of its revenue through the provision of banking and services to private customers and small businesses, and a vast majority of its revenue is earned in Israel. | $25 | +20% | $36B | $36B | ||||
| Abu Dhabi Commercial Bank is a publicly listed banking group headquartered in Abu Dhabi. It serves consumers, small and medium-sized businesses, large corporates, government-related entities and institutional clients across the United Arab Emirates and selected international markets. Its activities include retail and commercial banking, transaction services, corporate lending, investment banking, treasury and wealth management. Revenue is generated from financing spreads, fees, commissions and investment-management services. The bank completed its merger with Union National Bank in May 2019 and simultaneously acquired Al Hilal Bank from Abu Dhabi Investment Council. Al Hilal subsequently became the group's standalone Islamic digital-banking brand, while ADCB remained the listed parent and principal operating bank. Abu Dhabi Commercial Bank serves B2B, B2C and B2G customers through activities spanning Commercial Banking, Investment Banking and Wealth Management. | $5 | +18% | $36B | $36B | ||||
| Resona Holdings is one of the top six Japanese banking groups by assets. Although its banking units are categorized in Japan as "city" banks for historical reasons, it is only around a third of the size of the three megabank groups and effectively a superregional bank operating mainly in the Kansai region (54% of its branches) and the Tokyo metropolitan area (43% of branches), with a strong focus on retail and small and medium-size enterprises, rather than lending to large corporates. | $16 | +62% | $35B | $35B | ||||
| Bank of Ningbo is the fifth largest city commercial bank in China by total assets. Established in 1997 and listed on the Shenzhen Exchange in 2007, the bank has a headquartered in Ningbo, a vice provincial city in Zhejiang province. It has a differentiated positioning in SME and nonmortgage retail loan business. The bank has established 16 branches in Zhejiang Province, Jiangsu Province, Shanghai, Beijing, and Guangdong Province. These regions contributed about 64%, 22%, 4.5%, 3.6%, and 4.6%, respectively, to total loans in 2024. It has a diversified shareholding structure, with SASAC of Ningbo Municipal Government, Singapore’s OCBC Bank, and Youngor Group holding 19%, 17.8%, and 10% of the shares, respectively, as of end-2024. | $5 | +33% | $35B | $35B | ||||
| Bank Of Jiangsu is a Chinese financial institution based in Jiangsu province. It provides banking or credit services to corporate and individual clients in its regional market. Its disclosed activities include corporate lending, and it supplied loans to the Rundong automobile dealership group over a continuing business relationship. The institution earns income through the provision of financial services and financing to its customers. Rundong reacquired a minority equity interest in the institution in December 2013 after previously holding the shares as nominee for another beneficial owner. The acquired holding comprised 10 million shares and represented approximately 0.11 percent of its issued equity. The transaction reflected an existing banking relationship rather than an acquisition of control over the financial institution. Rundong described it as a business partner in Jiangsu and stated that it did not plan a broader financial-institution investment programme. | $2 | +22% | $34B | $34B | ||||
| Ping An Bank has its headquarters in Shenzhen, China. The bank is a leading countrywide joint-stock commercial bank. Its parent, Ping An insurance Group, the second-largest insurance company in China, owns about a 58% stake in Ping An Bank. The bank was formerly known as Shenzhen Development Bank and was merged with Ping An Bank in mid-2012. The bank offers a full range of commercial banking services, operating 109 branches and 1,180 outlets in China. | $2 | +8% | $34B | $34B | ||||
| Bank Hapoalim BM operates as a financial institution offering full commercial banking services. Its services include Treasury Management, Liquidity Services, Financing Services, and Industry Knowledge. | $25 | +24% | $33B | $33B | ||||
| TS Financial Holding Co Ltd formerly Taishin Financial Holdings Co Ltd is a Taiwanese holding company that provides comprehensive financial services. The company's main business activities are investing and managing its investments in financial institutions. The operation departments of the company are subsidiaries of the bank business, securities business, insurance business and other businesses, respectively. Majority of revenue is from Bank business. Company operates in Asia, Europe, America, and Others, with maximum revenue from Asia. | $1 | +111% | $32B | $32B | ||||
| BPER Banca SpA is a banking group consisting of four Italian regional commercial banks that merged on the initiative of BPER Banca. The banks are involved in a number of market segments, including retail banking, corporate and investment banking, and wealth management and insurance. In addition to the banks, the Group includes product companies, including asset management, personal loans, leasing, and factoring operations, and special purpose vehicles. Its strategy emphasizes customer service and cooperative banking. BPER group's customer base overwhelming derives from retail banking, mostly from individuals with some business deposits. Its loan base, however, is principally the group's corporate customers. | $15 | +27% | $32B | $32B | ||||
| M&T Bank is a US regional bank with around $213 billion in assets as of Dec. 30, 2025. Headquartered in Buffalo, New York, the bank’s footprint is mostly concentrated in New England and the US Mid-Atlantic. M&T Bank boasts a community banking approach, and boasts over 900 branches in 13 states and Washington, D.C. Apart from retail and commercial banking, M&T Bank also has wealth management operations through Wilmington Trust and a partnership with LPL Financial, and a corporate trust business. | $219 | +19% | $32B | $32B | ||||
 | OTP Bank PLC provides universal financial services through several subsidiaries. It performs banking operations via its bank in Hungary. The Group’s operating segments are as follows: OTP Core Hungary, Russia, Ukraine, Bulgaria, Romania, Serbia, Croatia, Montenegro, Albania, Moldova, Slovenia, Merkantil Group, Asset Management subsidiaries, other subsidiaries, and Corporate Centre. The Bank provides comprehensive banking & other financial services to both retail & corporate customers: its activities include deposit collection from customers, raising money from the money & capital markets. It also offers mortgage loans, consumer credits, working capital & investment loans to companies and municipalities. A majority of the bank's net revenue is net interest income. | $123 | +29% | $31B | $31B | ||||
| Huntington is a regional US bank with over $200 billion in assets and has a large presence, particularly in the Midwestern market. It offers a full suite of consumer deposit and lending services, along with commercial services focused on payments, investment management, capital markets, equipment financing, treasury management, and other common banking services. | $15 | -1% | $31B | $31B | ||||
 | Capitec Bank Holdings Ltd is a retail bank with more than 850 branches in South Africa. Its services focus on three customer needs: saving, which provides customers the ability to receive and store funds; credit, which satisfies customer needs to access and borrow funds; and transacting, which allows for payments and movement of funds. It operates in three segments: Retail bank, Business bank, and the Insurance business. Net interest income accounts for more than two-thirds of total company revenue. The company's operating segments are: Personal banking, Business banking, the Insurance business and AvaFin. | $263 | +19% | $30B | $30B | ||||
| Handelsbanken is one of the largest Swedish banks with significant exposure to the Swedish mortgage market; about 44% of total loans are tied to the Swedish real estate market. Outside of Sweden, the bank operates primarily in the UK and Netherlands. Handelsbanken generates about three fourths of its income through its interest spread-based business, including mortgages, household loans, and corporate loans to large and small enterprises. | $15 | +15% | $30B | $30B | ||||
| Sumitomo Mitsui Trust Group is the fifth-largest Japanese bank by assets and revenue, with a market share of domestic loans of 3.1% as of March 2024. It is the only remaining stand-alone trust bank after the late 1990s deregulation removed legal barriers between commercial banking and trust functions in Japan; its former rivals in trust banking merged and became units of Mitsubishi UFJ FG and Mizuho. It has no capital ties with Sumitomo Mitsui FG, despite the similar name and common ties to Sumitomo and Mitsui group companies. In fiduciary services, SMTG is the market leader in Japan in total assets under custody. It is the largest manager of corporate pension funds and trails only Nomura in investment trusts. | $11 | +61% | $30B | $30B | ||||
| Median | $23 | +21% | $67B | $67B | 4.1x | 13.1x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.