Table of Contents
Introduction
China’s banking system has grown and changed a lot in the last few years. As a country with a large population and a developing economy, Chinese banking is an important part of the country’s growth and stability. In this article, we will identify the top 10 banks in China, and discuss their size, market share, financial strength, and key advantages.
1. Industrial and Commercial Bank of China (ICBC)
The Industrial and Commercial Bank of China (ICBC) is the biggest bank in China and the whole world based on the size of its total assets. ICBC is one of the biggest banks in China and worldwide, with over $250 billion in market capitalization to date, to offer corporate, retail and asset banking services. It has a large number of branches and a large customer base, which help it maintain its market leadership.
2. China Construction Bank (CCB)
China Construction Bank (CCB), one of the biggest banks in China and one of the biggest in the world, offers corporate, retail and treasury banking. It is well positioned both within the domestic market and internationally due to its branches and subsidiaries in different countries. The bank has also performed very well in terms of risk management and new digital banking products and services.
3. Agricultural Bank of China (ABC)
The Agricultural Bank of China (ABC) is the third largest bank in China and one of the largest agricultural cooperatives in the world, which was established to meet the financial requirements of rural areas and agricultural business. It has a large number of rural branches and is involved in the provision of credit, deposits and insurance. Because of its knowledge in agricultural finance it is a significant bank in the development of the agricultural sector in China.
4. Bank of China (BOC)
The Bank of China (BOC), one of the biggest and oldest banks in China, offers a wide range of financial services in the fields of commercial banking, investment banking, and asset management. BOC has a broad international presence with branches and representatives in the most important financial centers of the world. Thanks to a good capital base and a wide range of outlets, it is one of the leading providers of international trade and investment services.
5. Postal Savings Bank of China (PSBC)
Postal Savings Bank of China (PSBC) is a state-owned commercial bank that is targeting retail customers through its branch network which it gets from China Post. PSBC is famous for providing general banking services such as deposits, loans and remittances. It has the biggest branch network and has worked hard for the financial inclusion of the retail customers thus increasing its popularity.
6. Industrial Bank Co., Ltd.
The Industrial Bank Co. Ltd. is one of the biggest Chinese commercial banks that offers corporate banking, retail banking, and financial market services. The bank has paid much attention to the development of technology and innovation, which allows the bank to provide its clients with digital banking products and services. It focuses on customers and has a very effective work approach that helps it to maintain positive growth and results.
7. China Merchants Bank (CMB)
China Merchants Bank (CMB) is one of the big Chinese commercial banks, which is famous for its customer centric approach and new and innovative products and services. CMB offers a number of products and services, including corporate banking, retail banking, and wealth management. It has paid much attention to the development of technology and digital transformation, thus providing its customers with easy and quick solutions.
