Top List of Banks in China

China is a big country with 1.4 billion people, and it has the second-largest economy in the world. As such, it's home to some of the best banks in the world. In China, banking has been primarily dominated by the state-owned Big Four Banks. While they still control the majority of loans and deposits, China's banking sector has experienced unprecedented growth in recent years. This growth results from increasing competition from smaller banks, the emergence of the internet and mobile banking, and the shift to a more market-driven financial system. Some of the best banks in China are as follows:

Bank of Communications

Bank of Communications is a Chinese commercial bank headquartered in Shanghai. It is one of the five largest state-owned commercial banks in China and one of the four bank subsidiaries of China Communications Construction Company. As of December 31, 2019, it was the fifth-largest lender in mainland China with assets worth CN¥10.670 trillion (US$1.52 trillion). 

BOCOM has a range of banking services for personal banking, corporate banking, wealth management, and international banking. BOCOM also offers current accounts, savings accounts, fixed deposits, credit cards, loans, and debit cards. 

In December 2019, BOCOM had 236 branches in Mainland China and sub-branches in Hong Kong, Macau, and Taiwan. It had over 3 million personal customers using mobile banking apps and employed 87,828 staff as of the end of 2019.

China Merchants Bank

China Merchants Bank is a Chinese bank that was founded in 1987. China Merchants Bank's total assets reached 8.4 trillion at the end of 2020, with a customer deposit balance of 5.1 trillion and a net customer loan balance of 4.4 trillion. It has 74,590 employees. The Bank operates more than 500 branches across Mainland China (including Hong Kong and Macau), with overseas branches in New York City, London, Tokyo, and representative offices in Singapore, Seoul, Ho Chi Minh City, Bangkok, and Dhaka.

The Bank provides a wide range of personal financial services through its extensive network of branches throughout Mainland China, including deposits, loans, wealth management services, insurance agency services, and remittance services. 

Industrial Bank

Industrial Bank (or IB) is a Chinese commercial bank headquartered in Fuzhou, Fujian Province, with over 140 employees and more than $550 million in assets. It was founded in 1985. IB provides a wide range of services and products, including foreign exchange, international trade settlement, securities, bonds, futures trading, currency deposits, loans, and credit cards. The Bank also offers Internet banking products.

There are nine branches located throughout China: Fuzhou (headquarters), Xiamen (branch), Quanzhou of Fujian province, Wuhan of Hubei province, Shenzhen of Guangdong province, Chongqing of Sichuan province, Wenzhou of Zhejiang province, Jinan of Shandong province, and Haikou of Hainan province.

Shanghai Pudong Development Bank

Shanghai Pudong Development Bank (SPDB) is a Chinese bank headquartered in Shanghai and a subsidiary of Postal Savings Bank of China. It is one of the largest banks in mainland China by assets. In December 2016, total assets reached RMB US$842.8 billion.

It has 328 branches across the country, and SPDB covers corporate banking, personal banking, and financial markets businesses. Corporate banking business covered includes corporate finance, corporate loans, SME financing, international trade financing, etc. The Bank also had a total of 52,832 employees as of 2016.

China CITIC Bank 

CITIC Bank is a large joint-stock commercial bank in China. It was founded in 1987 and is one of the four state-owned commercial banks owned by the central government.CITIC Bank is headquartered in Beijing, with branches throughout mainland China, Hong Kong, Japan, South Korea, Germany, Canada, and Australia, and representative offices in Singapore, London, New York, and Taipei.

China CITIC Bank has more than 1,400 domestic branches (including sub-branches), two overseas branches in Hong Kong and Singapore, and four overseas representative offices in Sydney, Ho Chi Minh City, Kuala Lumpur, and New York City. In 2014, CITIC Bank had over 34,589 employees around China, and its total assets were worth about US$474.7 billion. The Bank offers personal banking, corporate banking, investment banking, and asset management services to customers. 

China Minsheng Banking Corporation Limited

China Minsheng Banking Corporation Limited is a commercial bank based in Beijing, China. Minsheng Bank's headquarters are located in Beijing, China. The company was founded in 1996 by a group of entrepreneurs who made financial services more accessible to small and medium-sized enterprises (SMEs). Since then, the company has grown to have over 2,800 physical locations across China and more than 57,000 workers. China Minsheng Banking Corporation Limited had total assets of 5,806.212 RMB bn in 2018. The Banking Corporation Limited provides services in the following areas: personal banking, business banking, etc.

China Everbright Bank

China Everbright Bank (CEB) is a leading financial services provider in China. Established in 1992 and headquartered in Beijing, China Everbright Bank boasts about RMB2. Thirty-nine trillion (about $375 billion) in assets in over 850 branches and delivering its services to not less than 90 cities.

In addition to the traditional banking business, CEB has also developed into a modern commercial bank with diversified products and services offering Retail Banking, Corporate Banking, Investment Banking, and Asset Management services.

As of July 2021, its estimated employees stood at 45,562.

Huaxia Bank Co., Ltd

Huaxia Bank Co., Ltd. was established in Beijing on December 28, 1992, and completed its system reform on March 1, 1993.

The Bank has a registered capital of RMB 19 billion and total assets of RMB 2,607.688 billion as of December 31, 2018. It is the only joint-stock commercial Bank wholly owned by corporate legal entities. Huaxia Bank's shareholders include China National Tobacco Corporation, China Petrochemical Corporation, Sinopec Group, Sinochem Group, etc. The Bank has a network of 33 tier-1 branches, 23 tier-2 branches, 12 cross-city sub-branches, and 437 outlets. By June 2012, it had 20 million personal customers and 3 million corporate customers. The Bank offers a wide range of financial services, including retail banking, corporate banking, and investment banking.

Zhongyuan Bank Co.

Zhongyuan Bank Co. is a Chinese bank based in Zhengzhou, Henan. The Bank was founded in 1992. In May 2002, the Bank changed its name from Zhengzhou City Commercial Bank to Zhongyuan Bank because it was transformed into a joint-stock commercial bank. As of December 31, 2020, Zhongyuan Bank Co Ltd had total assets of; Investments, 271.62 B; Net Loans, 533.39 B; Total Deposits, 539.04 B and total employees 13.25k

Zhongyuan Bank is a Chinese commercial bank that provides banking, insurance, and financial products and services to individuals, small and medium-sized enterprises (SMEs), large state-owned enterprises, and other legal entities.

Shengjing Bank Co., Ltd

Shengjing Bank Co., Ltd. is a Chinese joint-stock commercial bank headquartered in Shenyang, Liaoning. Shengjing Bank was founded in 1996. It is primarily engaged in corporate banking, including corporate deposits and loans, banking card services, trade financing, wealth management, and other related services.

As of 2020, it has over $157,698 total assets and over 1 million corporate customers. Additionally, the Bank had not less than 6,307 employees.


Q. What is China's largest Bank?

A. The Industrial and Commercial Bank of China (ICBC) has been the world's largest Bank by market capitalization since 2005. ICBC has $550 million in assets, making it more significant than the European Investment Bank.