The global banking sector remains a financial juggernaut, managing trillions in assets. A Statista forecast projects net interest income to hit $8.94 trillion by 2025, despite recent market turmoil driven by recession fears and trade policy uncertainties from former US President Donald Trump’s tariffs.

JP Morgan Chase, headquartered in New York, continues to reign as the world’s largest bank by market capitalisation at $686.13 billion. In contrast, India’s HDFC Bank has climbed to 10th place globally following its merger with HDFC Ltd., reaching a market cap of $184.44 billion, just behind Goldman Sachs.

China’s dominance remains strong, with four of the top 10 spots occupied by Chinese banks. The Industrial and Commercial Bank of China (ICBC) has overtaken Bank of America to secure the second position with a $320.05 billion market cap and holds the most total assets globally at $6.898 trillion.

Other key players include Bank of America ($302.55B), Agricultural Bank of China ($256.80B), and Wells Fargo ($233.68B). British giant HSBC and US-based Morgan Stanley also feature prominently.

HDFC Bank’s global breakthrough reflects India’s growing financial clout. With an expanding domestic presence and increasing market valuation, it is reshaping global banking conversations.

Top banks in 2025 (by market cap):

  1. JPMorgan Chase – $686.13B

  • ICBC – $320.05B

  • Bank of America – $302.55B

  • HDFC Bank – $184.44B