World's Top 50 Corporate, Investment and Wholesale Banks
Ranking 2025, for FY2024, JPMorgan Chase, International Commercial Bank ofChina (ICBC), and Bank of America (BofA) drew the highest revenue from
corporate, investment, and wholesale (CIW) banking. Other senior lenders in the
ranking include Citi, HSBC, Agricultural Bank of China (ABC), Bank of China
(BoC), Wells Fargo, China Construction Bank (CCB), and Deutsche Bank.
Most CIW banking revenue percentage is produced by Qatar
National Bank (QNB) as CIW contributes to 85% of its total revenue generation,
with First Abu Dhabi Bank (FAB) at 67%, followed by Standard Chartered and
Deutsche Bank at 60%. HSBC, Citi, and NatWest also rank among the top 10.
JPMorgan, ICBC, and BofA lead in revenue.
About 70% of QNB's revenue comes from CIW banking
activities. Second was FAB at 67%. The rank was followed by Standard Chartered
and Deutsche Bank, both recording 60%. HSBC, Citi, and NatWest were also in the
top 10.
As a corporate and ICW bank revenue-generation leader,
JPMorgan produced $70.1 billion revenue from CIW activities in 2024, with
business in nearly 160 countries. This position is being reinforced by a strong
global footprint, strong investment since then in technology, regulation
capabilities, and targeted acquisitions. CIW banking revenue increased in 2024
by 9% after registering a compound annual growth rate (CAGR) of about 3.2% from
2020 to 2023.
ICBC follows closely, with CIW revenue reaching $53.2
billion in 2024, reflecting a modest 0.1% increase after a 1.8% contraction in
2023. ABC posted a 2.7% increase in 2024, partially offsetting a 2.2% decline
in 2023. BoC saw its CIW revenue fall by 5.9% in 2024, following strong growth
of 17.3% the previous year. CCB experienced an 8.4% decline in 2023, followed
by a further 4.6% drop in 2024. The bank’s modest pre-tax return on assets
(ROA) of 0.6% underscores the need for performance enhancement in its CIW
banking segment.
BofA, on the other hand, reported a robust growth of 9.8% in
2023 and 3.3% in 2024 on CIW revenues, amounting to $45.8 billion in 2024,
despite a cost-to-income ratio (CIR) being recorded very high at 56.3, which
implies some more scope for improvement in cost control bearing in mind the
bank's vast footprint extending across 38 countries. Citi CIW witnessed strong
growth going from 0.2% in 2023 to 10.2% in 2024.
Among the ten banks with highest CIW revenues, Citi has the
highest 61.9% CIR, indicating that it needs to manage its operational costs
better and use its resources more efficiently. In contrast, its Chinese
counterparts CCB and ICBC, which have CIR of 39.4% and
25.7%, respectively, seem to have a more efficient cost structure, enjoying
both scale efficiencies as well as tighter cost management.
American banks lead the way, followed closely by rising Chinese giants Top 10 banks with the highest corporate, investment and wholesale banking revenue (FY2024)
CIW helps drive revenue for QNB, FAB and key European banks
Half of the top 10 banks with the largest revenue shares
from CIW banking are based in Europe, with Standard Chartered, Deutsche Bank
and HSBC having been singled out as key players. In terms of revenue and CIW
activities, all three banks - Standard Chartered, Deutsche Bank, and HSBC -
share an equal scenario of 60%, 60%, and 59%, respectively. These banks stand
out very prominently above their competitors for their broad range of CIW
banking products – an advantage both in terms of product variety and client
engagement. This strong combination of services and offerings ranks them
amongst the key players in the global CIW banking market.
The two Middle-East banks, QNB and FAB, have the highest CIW
revenue shares among the top 10 banks worldwide. Their establishment as
international trade hubs, together with government-backed initiatives to
promote digital payments, investments in technology and economic
diversification has buttressed this growth pattern. FAB recorded CIW revenue
growth of 14.8% in 2024, with a CAGR of 17.8% from 2020 to 2023.
American banks, on the other hand, derive less from CIW
revenue than QNB and FAB, with JPMorgan taking 39.5% of its revenue from CIWs
and BofA taking 44.7% of its revenue from CIWs. The contribution of CIW revenue
from the Asian banks shows different magnitudes, with several of the
institutions putting efforts to expand on their CIW portfolio and strengthen
their presence therein.
QNB and FAB lead in share of corporate, investment and wholesale banking revenue. Top 10 banks with the largest revenue share from corporate, investment and wholesale banking revenue (FY2024)
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Asian banks closing the gap with American giants
The Asian banks are steadily marching on, slowly closing the
gap with their American counterparts. JPMorgan and BofA still lead the pack,
but slowly the prominent Chinese and other Asian banks are altering the picture
of global banking.
CIW banking assets of 12 banks worldwide exceeded $1
trillion as of FY2024, with ICBC, CCB, ABC and BoC being the four largest, thus
demonstrating their scale as well as Asia's increasing influence in global CIW
banking. ICBC is still maintaining its status as an important player with 48.6%
of its revenue derived from CIW-related activities. Even with slow-growing CIW
revenue, the operations produced a stable pre-tax ROA of 1.3%.
Other Asian banks are cruising their way up too. Of
particular note is the United Overseas Bank, which has posted huge growth with
CIW contributing 47.1% to its revenues. It also achieved strong pre-tax ROA of
1.8%, making it a rising force that can catch up with the leading American
giants. Besides, banks like Mizuho are using Japan's strong role in global
trade to leverage their positions. HSBC Hong Kong adds to the boosting of Asian
players' presence with CIW revenue of $18.4 billion.
With solid performance and timely strategic positioning,
these banks are set to shrink the distance with their American counterparts in
the next few years. In this expanding role of Asia in global economics and
evolving centrality of this region in global trade, Asian banks are bound to
dictate the future of global CIW banking.
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