As the Chinese economy booms, the Chinese banking industry is also improving its services and expending its business. In the last twenty years, more and more banks have come into the financial market. With with active participants, Chinese financial market has been more and more prosperous.
Here is a list of top 10 largest Chinese Banks, you can bookmark this page as you may need the service of a Chinese bank some day.
1. The People’s Bank of China (PBC or PBOC) is the central bank of China with the power to control monetary policy and regulate financial institutions in mainland China. The People’s Bank of China has more financial assets than any other single public finance institution in world history.
2. Industrial and Commercial Bank of China Ltd. (ICBC) is the largest Bank of China’s ‘Big Four’ state-owned commercial banks(the other three being the Bank of China, Agricultural Bank of China, and China Construction Bank).
3. Agricultural Bank of China (ABC) Limited was founded in 1951, and has its headquarters in Beijing. It has branches throughout mainland China, and also in Hong Kong and Singapore.
4. Bank of China Limited (BOC) is another one of the big four state-owned commercial banks of China. It has over RMB 6,951.68 Billions in assets, making it part of the Fortune Global 500 for the past 17 years.
5. Bank of Communications Limited (BoCom or BoComm), founded in 1908, is one of the largest banks in China. Today, the Bank of Communications is amongst the top 5 leading commercial banks in China and has an extensive network of over 2,800 branches covering over 80 major cities.
6. China CITIC Bank is China’s seventh-largest lender in terms of total assets. Its network comprises 418 branches countrywide, and includes established correspondent relationships with 990 banks and their branches in 70 countries around the world.
7. China Construction Bank (CCB), as one of the ‘big four’ banks in the People’s Republic of China. is ranked as the nation’s second largest and the second largest bank in the world by market capitalization. The bank has approximately 13,629 domestic branches.
8. China Merchants Bank (CMB) is a bank headquartered in Shenzhen, China. Founded in 1987, it is the first share-holding commercial bank wholly owned by corporate legal entities.
9. Postal Savings Bank of China (PSBC) is a commercial retail bank, which provides basic financial services, especially to SMEs, rural and low income customers. PSBC has 40,000 branches covering all regions of China.
10. Hua Xia Bank is a state-controlled publicly traded bank in the China. It is based in Beijing and was founded in 1992. In September 2003, Hua Xia bank went public in Shanghai Stock Exchange and became the fifth listed Chinese bank.