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UBS has always been one of the global heavyweights of the banking world – and even more so after the CS takeover. The US financial services group S&P compiles a ranking of the world’s largest banks each year. In the final ranking in April 2022, UBS moved up to 34th place, while CS was still in 45th place.
The world’s 20 largest banks are dominated by well-known names not only from the USA and Europe, but also especially from China. Chinese banks occupy the top four positions.
20 largest banks in the world
| rank | Bank | Centre | Total assets in billion USD (2021) |
| one. | Industrial and Commercial Bank of China | Chinese | 5536 |
| 2. | China Construction Bank | Chinese | 4762 |
| 3. | China Agricultural Bank | Chinese | 4575 |
| 4. | Bank of China | Chinese | 4206 |
| 5. | J.P. Morgan Chase | United States of America | 3743 |
| 6. | Mitsubishi UFJ Finance Group | Japan | 3176 |
| 7. | Bank of America | United States of America | 3169 |
| 8. | HSBC | United Kingdom | 2953 |
| 9. | BNP Paribas | France | 2905 |
| 10 | Credit Agricole | France | 2674 |
| 11th. | Citigroup | United States of America | 2291 |
| 12. | Sumitomo Mitsui Finance Group | Japan | 2176 |
| 13. | Japan Postal Bank | Japan | 1998 |
| 14 | China Postal Savings Bank | Chinese | 1981 |
| 15 | Mizuho Finance Group | Japan | 1957 |
| 16 | Wells Fargo | United States of America | 1948 |
| 17 | barclays | United Kingdom | 1874 |
| 18 | communication bank | Chinese | 1836 |
| 19 | Banco Santander | Spain | 1814 |
| 20 | Group BPCE | France | 1724 |
In the final ranking, UBS ranked 34th with a total asset size of US$1.117 billion. CS ranked 45th with 829 billion.
UBS moved up to 21st place
Since then, CS has regained weight: at the end of 2022, its total assets equaled exactly US$ 571 billion. UBS also shrunk slightly to $1.104 billion. When these two numbers are added together, the total balance sheet becomes 1675 billion dollars.
This places the “new” UBS at number 21 in the list above. However, there have also been some changes in the figures at other banks, so larger changes are possible. What is clear is that UBS will likely surpass big names like France’s Société Générale, Deutsche Bank, and US Goldman Sachs and Morgan Stanley.
The new ranking is expected to emerge in about a month. Whether the takeover of the Swiss banking center will be complete by then seems doubtful. In addition, the list is calculated retrospectively from 2022. Therefore, it can be predicted that the new Swiss mega-bank will be accurately reflected in the world ranking of only the largest banks within a year.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
