The most reliable and profitable banks on the planet

There are credit institutions such as banks, which are considered to be at a top level for their services offered and their reliability

by Lorenzo Ciotti
SHARE
The most reliable and profitable banks on the planet
© Chris Hondros / Staff Getty Images News

There are credit institutions such as banks, which are considered to be at a top level for their services offered and their reliability. There are many aspects that can lead a customer to rely on one financial institution rather than another, and therefore choose one bank rather than another.

When choosing a bank, a customer may have various elements to base on. The interest rates on the retained assets, the choice of investments that the bank offers, the state of liquidity and reliability, the prestigious name that the bank can offer as guarantee, the interest rates on mortgages and loans, tax breaks, the problems to be solved in the case of those requesting a mortgage, and much more.

The banks' main income is the earnings on the services offered such as interest income on loans to debtors, which are guaranteed by a compulsory reserve percentage of the deposits provided by customers or creditors who are entitled to lower interest expenses.

The set of banks, regulated and coordinated by the central bank, gives life to the credit-banking system which is part or subsystem of the economic system. The bank in the strict sense is accompanied by the central bank with functions of regulation and supervision of the banking system as well as monetary policy.

Private banks, like all credit and financial intermediation institutions, are also subject to assessments regarding their financial solidity and guarantees towards private creditors. These rating assessments are expressed by the well-known international rating agencies, the same ones that evaluate the financial solidity of states in relation to their public debt.

Every year the Financial Stability Board publishes a list of banks classified as Too Big To Fail, which due to their key role in the global economy must be helped by States in every way to avoid their bankruptcy, even in the event of serious losses

Here are the most reliable and profitable banks:

JPMorgan Chase & Co is a leading US bank offering a wide range of financial services globally.

Bank of America Corp is another large American bank that provides a wide range of financial services to individual customers, businesses and institutions.

Industrial and Commercial Bank of China Limited (ICBC) is the largest commercial bank in China and one of the largest in the world by total assets.

HSBC Holdings Plc is one of the largest banks in the world with a global presence in many countries.

Banco Santander S.A. is one of the leading European banks with a large presence in several countries.

Wells Fargo & Company is a leading American bank offering a wide range of financial services to individual and corporate customers.

Mitsubishi UFJ Financial Group Inc. (MUFG) is a leading Japanese bank with a strong international presence.

Citigroup Inc. is one of the largest banks in the world providing a wide range of financial services.

BNP Paribas SA is a major French bank with a significant international presence.

SHARE