In this article, we will look into the 20 most valuable financial companies in the world. If you want to skip our detailed analysis, you can go directly to the 5 Most Valuable Financial Companies in the World.
Financial Services Industry: A Market Analysis
According to a report by The Business Research Company, the global financial services market is expected to reach $28.11 trillion in 2023. The market is expected to grow further at a CAGR of 7.5% and reach $37.48 trillion by 2027.
The global financial services market is segmented into lending And payments, insurance, reinsurance, insurance brokerage, foreign exchange services, and investment, by type. The global payment industry has experienced a rapid increase in EMV (Europay, Mastercard, and Visa) adoption. The growth is characterized by the enhanced data security offered by EMV chips and PIN cards. The EMV technology is now becoming a security standard in the finance sector for various payment cards. According to EMVCo, in 2020, the total number of EMV chip payment cards reached 10.8 billion. The adoption of EMV chip payment cards is consistently growing, with 71.7% in Canada, Latin America, and the Caribbean regions. The growth has reached 61.2% in Africa and the Middle East region, and 32.7% in the Asia Pacific region.
To meet the growing market demand for modernization, banks and financial institutes are adopting digitized modern technology for commercial lending business. This shift is a result of the rising competition among the banks and an increased demand for an efficient commercial lending process. Companies are also leveraging big data analytics for customer insights, including delivering stats about clients, product penetration, and program effectiveness. Such technologies help companies to understand existing and potential clients' inclination to buy products and services offered by the companies. Regionally, the financial services market is dominated by Western Europe with the largest share in the market in 2022, followed by North America with the second largest share in the market.
Major Players in the Industry
The global financial services market is dominated by major companies including Visa Inc. (NYSE:V), JPMorgan Chase & Co. (NYSE:JPM), Mastercard Incorporated (NYSE:MA), andBank Of America Corporation (NYSE:BAC).
Visa Inc. (NYSE:V) is a global leader in the financial services market. On November 2, the company announced the launch of its new Visa Payment Learning Program. The program will help employees, customers, students, and military talent to upskill their knowledge of payments cybersecurity. The goal of the program is to train them through training courses and certifications to form a diverse talent pool. The program is currently available in the US, with plans for global expansion. The training program also includes a variety of cross-divisional programs such as Visa's Apprenticeship Program, Visa's Military Talent Program, and Visa University.
JPMorgan Chase & Co. (NYSE:JPM) is a leading American multinational financial services company.On October 10, the company launched a cloud-native data platform, Securities Services Data Mesh, available through Fusion, a data management solution by JPMorgan Chase & Co. (NYSE:JPM). The platform will utilize cloud-native channels including REST APIs, Jupyter notebooks, and the Snowflake Financial Services Data Cloud. The Data Mesh will help investors integrate asset servicing data as portfolios and investments grow in complexity and size.
Mastercard Incorporated (NYSE:MA) is a global payment processing company leading the financial services market. On October 19, Mastercard Incorporated (NYSE:MA) announced the launch of its new suite of enhanced AI-powered solutions that allows banks to provide always-on payments. These enhanced solutions are put together to improve authorization accuracy and alleviate overdraft and over-credit-limit concerns. The AI-powered solutions will help banks to improve their payment resiliency.
Talking about the new AI-supported solution, the President of Cyber and Intelligence at Mastercard, Ajay Bhalla said:
“With an increased focus on resiliency we are harnessing the latest AI technology to advance our solutions and make it even easier to ‘stand in’ for our customers to keep payments flowing. This improves consumer experience and protects trust across the ecosystem.”
Bank Of America Corporation (NYSE:BAC) is among the top companies driving growth in the financial market. On October 17, the company announced its earnings for the fiscal third quarter of 2023. Bank Of America Corporation (NYSE:BAC) reported an EPS of $0.90 and outperformed consensus by $0.08. The company reported a revenue of $25.17 billion for the quarter and outperformed revenue consensus by $93.31 million. The company's revenue for the quarter grew by 2.71% on a year-over-year basis.
Now that we have talked about the market trends in the financial services industry and discussed major players, let's look at the 20 most valuable financial companies in the world.
20 Most Valuable Financial Companies in the World
Methodology
To rank the 20 most valuable financial companies in the world, we identified the major companies in the market by reviewing industry reports and screening for companies in the financial services sector using Finviz and Yahoo Finance's stock screener. We collated a list of 30 companies and sourced their market cap from Yahoo Finance. Then, we narrowed down our list to the top 20 companies and ranked them in ascending order of their market cap, as of November 4.
20 Most Valuable Financial Companies in the World
20. PT Bank Central Asia Tbk (OTC:PBCRF)
Market Cap as of November 4: $74.58 billion
PT Bank Central Asia Tbk (OTC:PBCRF) is ranked among the most valuable financial companies in the world. PT Bank Central Asia Tbk (OTC:PBCRF) is one of the top banks in Asia, headquartered in Indonesia. As of November 4, PT Bank Central Asia Tbk (OTC:PBCRF) has a market cap of $74.58 billion.
Some of the top financial services stocks that are on hedge funds' radars include Visa Inc. (NYSE:V), JPMorgan Chase & Co. (NYSE:JPM), Mastercard Incorporated (NYSE:MA), and Bank Of America Corporation (NYSE:BAC).
19. UBS Group AG (NYSE:UBS)
Market Cap as of November 4: $78.98 billion
UBS Group AG (NYSE:UBS) is a leading multinational investment bank headquartered in Zurich, Switzerland. UBS Group AG (NYSE:UBS) was founded in 1998 and is the largest Swiss bank in the world. As of November 4, UBS Group AG (NYSE:UBS) boasts a market cap of $78.98 billion.
18. Chubb Limited (NYSE:CB)
Market Cap as of November 4: $89.26 billion
Chubb Limited (NYSE:CB) is ranked 18th on our list of the most valuable financial companies in the world. Chubb Limited (NYSE:CB) is one of the largest financial insurance companies in the world, with operations in more than 54 countries. As of November 4, Chubb Limited (NYSE:CB) has a market cap of $89.26 billion.
17. BlackRock, Inc. (NYSE:BLK)
Market Cap as of November 4: $98.23 billion
Blackrock, Inc. (NYSE:BLK) is a leading investment management company, headquartered in New York City. Founded in 1988, Blackrock, Inc. (NYSE:BLK) provides investment, advisory, and risk management solutions. As of November 4, Blackrock, Inc. (NYSE:BLK) has a market cap of $98.23 billion.
16. The Charles Schwab Corporation (NYSE:SCHW)
Market Cap as of November 4: $98.83 billion
The Charles Schwab Corporation (NYSE:SCHW) is a leading American financial services multinational company, headquartered in Westlake, Texas. The Charles Schwab Corporation (NYSE:SCHW) provides services including brokerage, banking, and financial advisory. As of November 4, The Charles Schwab Corporation (NYSE:SCHW) has a market cap of $98.83 billion.
15. Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG)
Market Cap as of November 4: $105.69 billion
Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) is one of the leading multinational financial companies, headquartered in Japan. Founded in 2005, Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) is the largest bank holding company in Japan. As of November 4, Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) boasts a market cap of $105.69 billion.
14. The Toronto-Dominion Bank (NYSE: TD)
Market Cap as of November 4: $107.75 billion
The Toronto-Dominion Bank (NYSE:TD) is ranked 14 on our list of the most valuable financial companies in the world. The Toronto-Dominion Bank (NYSE:TD) is a Canadian multinational company, headquartered in Toronto. The Toronto-Dominion Bank (NYSE:TD) offers a variety of services including banking, loans, home lending, credit cards, and other financial products and services. As of November 4, The Toronto-Dominion Bank (NYSE:TD) has a market cap of $107.75 billion.
13. The Goldman Sachs Group, Inc. (NYSE: GS)
Market Cap as of November 4: $108.01 billion
The Goldman Sachs Group, Inc. (NYSE:GS) is an American financial services company, based in New York City. Founded in 1869, The Goldman Sachs Group, Inc. (NYSE:GS) offers services including, global investment banking, securities, and investment management. As of November 4, the Goldman Sachs Group, Inc. (NYSE:GS) boasts a market cap of $108.01 billion.
12. Royal Bank of Canada (NYSE:RY)
Market Cap as of November 4: $118.43 billion
Royal Bank of Canada (NYSE:RY) is the largest bank and financial services company in Canada, headquartered in Toronto. Royal Bank of Canada (NYSE:RY) offers products and services including banking, investment, insurance, wealth management, capital markets, and investor and treasury services. As of November 4, Royal Bank of Canada (NYSE:RY) has a market cap of $118.43 billion.
11. S&P Global Inc. (NYSE:SPGI)
Market Cap as of November 4: $121.30 billion
S&P Global Inc. (NYSE:SPGI) is a leading American multinational company, with business in 35 countries. Headquartered in New York City, S&P Global Inc. (NYSE:SPGI) offers services including credit ratings, analytics, global capital solutions, and commodities. As of November 4, S&P Global Inc. (NYSE:SPGI) has a market cap of $121.30 billion.
10. Blackstone Inc. (NYSE:BX)
Market Cap as of November 4: $126.36 billion
Blackstone Inc. (NYSE:BX) is an American financial services company, based in New York City. Blackstone Inc. (NYSE:BX) offers hedge fund solutions and private credit. As of November 4, Blackstone Inc. (NYSE:BX) boasts a market cap of $126.36 billion.
9. Morgan Stanley (NYSE:MS)
Market Cap as of November 4: $122.64 billion
Morgan Stanley (NYSE: MS) is a leading investment bank and financial services company. Morgan Stanley (NYSE:MS) has offices in 41 countries with more than 75,000 employees. As of November 4, Morgan Stanley (NYSE: MS) has a market cap of $122.64 billion.
8. HSBC Holdings plc (NYSE:HSBC)
Market Cap as of November 4: $145.82billion
HSBC Holdings plc (NYSE:HSBC) is a leading British financial services company, headquartered in London UK. HSBC Holdings plc (NYSE:HSBC) is the largest bank in Europe and is ranked 8th on our list of the most valuable financial companies in the world. As of November 4, HSBC Holdings plc (NYSE:HSBC) boasts a market cap of $145.82 billion.
7. HDFC Bank Limited (NYSE:HDB)
Market Cap as of November 4: $146.46billion
HDFC Bank Limited (NYSE:HDB) is a top Indian financial services company, headquartered in Mumbai. As of November 4, HDFC Bank Limited (NYSE:HDB) has a market cap of $146.46 billion. It is ranked 7th on our list.
6. Wells Fargo & Company (NYSE:WFC)
Market Cap as of November 4: $151.15 billion
Wells Fargo & Company (NYSE:WFC) is a leading American multinational financial services company, based in San Francisco, California. Wells Fargo & Company (NYSE:WFC) offers various services including banking and wealth management services. As of November 4, Wells Fargo & Company (NYSE:WFC) has a market cap of $151.15 billion.
Financial services is a growing market. Investors can research major stocks including Visa Inc. (NYSE:V), JPMorgan Chase & Co. (NYSE:JPM), Mastercard Incorporated (NYSE:MA), and Bank Of America Corporation (NYSE:BAC) for exposure to the financial services market.
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Disclosure: None. 20 Most Valuable Financial Companies in the Worldis originally published on Insider Monkey.
