LONDON – Every year S&P Global Market Intelligence releases its annual ranking of the world's biggest banks by assets, and in 2017, for another year, Chinese banks dominate the top of the list.
In total, S&P Global included 28 banks across the world with over $1 trillion in assets across Asia, North America, and Europe.
"Asian banks continue to dominate the S&P Global Market Intelligence global bank rankings with Chinese institutions claiming the top four spots," JP O’Sullivan, managing director of financial institutions at S&P Global.
Banks with big retail operations dominate the list, meaning investment banking giants including Goldman Sachs and Morgan Stanley, and UBS miss out on the $1 trillion mark, ranking 35th, 34th, and 38th respectively.
After a tough year in 2016, European banks bounced back on S&P's 2017 list, thanks largely to a rising euro and a strong economic outlook. Three European banks cracked the top 10 this year, up from two last year.
Overall, 11 European banks, 11 from Asia, and six from North America held more than $1 trillion in assets. Check out the world's biggest banks below.
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28. UniCredit, Italy — $1.004 trillion
27. The Norinchukin Bank, Japan — $1.006 trillion
26. ING Group, The Netherlands — $1.02 trillion
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