The banking world has had a strong year so far. Banks around the globe, especially in the U.S. and China, are showing solid profits, stable deposits, and a bounce-back in areas like investment banking and trading. This strength is reflected in the 2025 Forbes Global 2000 list, which ranks the world’s top companies. Half of the top 10 companies are banks, mostly from the United States and China.
JPMorgan Chase once again came out on top. It is the number one company in the world for the third year straight. Its $4.3 trillion in assets and successful buyout of First Republic helped it stay ahead. Meanwhile, China’s Industrial and Commercial Bank of China (ICBC), with $6.6 trillion in assets, jumped to third place overall.
Despite facing some global headwinds, banks stayed strong. In the U.S., higher interest rates have widened profit margins, helping banks earn more. Most major banks in America are now making more money than they did before the pandemic. Liquidity is steady, and many are growing fast as the market returns to normal.
There’s also a sense of hope. If interest rates fall later this year and the government becomes more business-friendly, banks expect more loan activity and a boost in mergers and acquisitions. That’s good news for an industry that relies on lending and investment.
However, not everything is smooth. Some U.S. bank leaders are worried about the uncertain impact of trade policies under the Trump administration. New tariffs and unpredictable moves are making it harder for businesses to plan ahead, and that is a problem for banks that depend on stable lending environments.
Besides JPMorgan, five other major U.S. banks are in the top 50 list:
- Bank of America
- Wells Fargo
- Goldman Sachs
- Citigroup
- Morgan Stanley
On the other side of the globe, China’s big banks are facing challenges. Their profits and income dropped slightly as loan demand slowed and net interest margins shrank. This is partly due to China’s struggling property market, which has increased bad loans. Even so, these banks are shifting toward new areas like lending to fast-growing sectors such as electric vehicles and AI technology.
Experts like Kelvin Leung from Ernst & Young say Chinese banks are preparing for an uncertain future by finding new sources of income, building capital, and cutting costs.
Other top Chinese banks on the Forbes list include:
- China Construction Bank - $5.5 trillion in assets (Rank 7)
- Agricultural Bank of China - $5.9 trillion (Rank 8)
- Bank of China -- $4.8 trillion (Rank 12)
European banks have also seen income rise from interest, but they're still facing uncertainty due to potential interest rate cuts and new tariffs. Sonja Förster from Morningstar DBRS says that although there are risks, European and Canadian banks still have strong financial foundations.
HSBC, based in the UK, remains the biggest bank outside the U.S. and China, staying at No. 15 with $3 trillion in assets. The Royal Bank of Canada moved up one spot to No. 26, while Spain’s Santander jumped seven places to No. 29 after growing its asset base to $1.9 trillion. France’s BNP Paribas dropped a few spots to No. 35, and Japan’s Mitsubishi UFJ Financial reclaimed its spot as the country’s largest bank at No. 34.
Overall, 328 banks made the 2025 Global 2000 list -- up from 315 last year. Forbes ranked these banks using data from FactSet, based on four key measures: sales, profits, assets, and market value.
