10 largest banks in the world at end of 2008

Here is a list of the largest banks in the world at the end of 2008:
1. Industrial & Commercial Bank of China, ICBC (China)
2. Bank of America (US)
3. HSBC Holdings (UK)
4. China Construction (China)
5. Bank of China (China)
6. JPMorgan Chase (US)
7. Citigroup (US)
8. Wells Fargo (US)
9. Banco Santander (Spain)
10. Mitsubishi UFJ Financial, MUFG (Japan)

The rankings certainly can change in 2009. In a review of U.S. banks Wells Fargo is described as well managed, with less exposure to subprime and other risky loans.

Citigroup plans to report quarterly results on Friday and analysts are looking for a fifth straight multibillion-dollar loss. It is also expected to provide details of a reorganisation of the company designed to ensure its survival. Citigroup is actually a group of companies organized under the Citigroup name. In 2007 Citigroup was the largest bank in the world, but by the end of 2008 Citigroup fell to 7th place.