A bank is a financial institution which accepts funds from the depositor and lends loans and advances to the lenders who need it by charging rate of interest. Bank act as a mediator or a agent between the lender and the depositor. There are many types of banks like retail banking, business banking, corporate banking, private banking and investment banking.
There are many primary and secondary functions of banks. It accepts our deposits whether they are saving, fixed, current, recurring deposits etc. The major function of bank is to transfer of funds, it transfers our funds from one branch to another. It collects our cheques through customers. On behalf of us it makes our periodic payments.
The most important bank of any country is the Central Bank of the country, like in India RBI is the central bank. It performs many functions like:
- It is the custodian of the foreign exchange.
- It is the advisor to the government in all the monetary affairs.
- It is responsible for the formulating and implementing the monetary responsibilities.
- It receives the state revenues and keep deposits of various departments and make payments on behalf of the government.
Banks play a crucial role in the development of the country. When there is a financial crisis in the country, the central bank of the country increases the CRR so that the flow of income could be controlled and there is balanced economy. There are not only the store houses of the country but the source house of financial resources of the country. Banks has provided the most important facility of debit and credit cards,with that you can easily carry the money. Top 10 banks are :
10.Industrial And Commercial Bank Of China
ICBC bank was founded on Jan 1,1984 with 18000 outlets. ICBC has 2.5 million corporate customers and 150 millions individual customers. The CEO of the company is Yang Kaisherg. The company has 15,476.868 billion worth of assets and 14,519.045 billion liabilities. The company is providing many services like corporate banking, corporate deposits and loans, SME banking etc. The company has won 47 awards.
9.Deutsche Bank
The bank is founded in 1870 by Paul Achleither, Juergen Fitschen and Anshuman Jain. The company’s total assets are worth of $1.611 trillion and earning revenue $1.91 billion. The company has won Seven International Financially Review (IFR) awards. The company’s tag line is Passion To Perform, how true it is.
8. BNP Paribus
The company is providing many products and services like asset management, consumer banking, corporate banking etc. The company has earned $47.86 revenue and has 2,00,000 employees. It was founded on 23rd May 2000 by the Baudowin Prot. It was founded on 23rd May 2000 by the Baudowin Prot. Its headquarters is situated in Boulevard Des Italiens, France.
7.Credit Agicole
It is one of the largest industry providing financial assets. It was founded on May 23rd,2000 with the headquarters situated in France. The company has employed 161,280 employees worldwide. The company has 21 million clients with branches situated over 60 countries.
6. Barclays Bank
It is one of the oldest bank, founded in 1690 by Sir David Walker. The bank deals with the many services like retail banking, commercial banking, investment banking. Barclays has sponsored many premier league and Tennis Championships. Company has total assets of $1.312 trillion. The company has a secondary listing to the New York Stock Exchange.
5.China Construction Bark
It is one of the largest public bank situated in Beijing, China. It was founded by Wang Hongzhang, Zhang Jianguo and its main services are finance and insurance, consumer banking, corporate banking and many more. The bank has approximately 13,629 domestic branches.
4.Agricultural Bank of China
The bank is providing no. of services like finance and insurance, consumer banking, corporate banking, investment banking and investment management. The company has total assets of CN 11.677 trillion. It was founded in 1951 by Jiang Chaoliang. It is one of the “big four” banks in China.
3.Japan Post Bank Co Ltd.
It is one of the largest government owned corporation. Its headquarters is situated in Chiyado, Japan. It was founded on 1st September,2006 by Koji Frunkawa. The bank is the world’s largest and bigger deposit holder. The bank’s earlier name was Yucho Co ltd and changes its name to Japan Post Bank.
2.Royal Bank Of Scotland
It s one of the international bank providing financial. RBS is serving 30 million customers in United Kingdom, being its headquarters located in Edinburgh. The RBS has 700 branches mainly in Scotland. It was founded by Ross Mc Ewan.
1.Bank of china
With 288,687 employees, Bank Of China is one of the largest and financial industry. The company deals with many products like credit cards, securities Asset Management, Wealth Management, mortgage loans etc. It was founded in 1912 by the Xiao Gang. The company’s total assets are worth of CN 124.18 billion. It is the 5 largest largest bank in the world by market capitalization world and one of the oldest bank in China.