History of the biggest banks on the planet
List of biggest banks History of the banks
Top ten banking groups in the world ranked by capital in 2004
1. Citigroup (USA)
2. J.P Chase (USA)
3. HSBC (England)
4. Bank Of Amercia (USA)
5. Credit Agricole (France)
6. Royal Bank of Scotland (Scotland)
7. Mitsubishi Tokyo (Japan)
8. Mizuho Financial Group(Japan)
9.HBOS (Scotland)
10. BNP Paribas (France)
1. Citigroup
Citigroup Inc
is a major financial services company, with 200 million customer accounts in more
than 100 nations. Their history dates back to the founding of Citibank in 1812,
Bank Handlowy in 1870, Smith Barney in 1873, Banamex in 1884, and Salomon Brothers
in 1910.
In 1812, with $2 million capital, City Bank of New York (now Citibank) opened for business in New York City. Through many different leaders and economic environments over the course of its history, the bank has become the biggest in the planet. In 1865 the City Bank joined the new U.S. national banking system and became The National City Bank of New York. In 1894 it had become the largest bank in the USA. In 1998, all Citicorp divisions merged with every division of Travelers Group to form Citigroup Inc. Citibank continues as a brand under the central Citigroup Inc.
2. J.P. Morgan & Company
The company regard their legacy as being from the companies of J.P. Morgan, Chase Manhattan, Chemical, Manufacturers Hanover, Bank One, First Chicago, and National Bank of Detroit
Chemical Banking
Corporation bought up the J.P. Morgan & Company in 2000, and aquired the name
for itself.
Chemical Banking Corporation, has developed from The New York
Chemical Manufacturing Company founded in 1823 as producer of chemicals. After
1851, the bank was separated from its parent and grew organically and through
a series of mergers, most notably with Corn Exchange Bank, Texas Commerce Bank,
and Manufacturer's Hanover Trust Company. At many points throughout this history
Chemical Bank was the largest bank in the United States. In 1996, the company
acquired the Chase Manhattan Corporation but kept that name. In 2000, the company
acquired J.P. Morgan & Co. and changed its name to J.P. Morgan Chase &
Co.
In 1895, Drexel, Morgan & Co. became J.P. Morgan & Co. It financed
the formation of the United States Steel Corporation, which took over the business
of Andrew Carnegie and others and was the world's first billion-dollar corporation.
In 1895 it supplied the United States government with $62 million in gold to float
a bond issue and restore the treasury surplus of $100 million.
3. HSBC
The HSBC was founded by a Scot, Thomas Sutherland in 1865 too finance far east trade. HSBC started its Shanghai branch office on 3 April 1865 and has had a continual presence in the city since, except during the Japanese Occupation.
In 1991 the bank moved to the London dockland. In the nineties the bank became on the of the largest on the planet after buying up Midland Bank.
The HSBC logo, named the Hexagon, is derived from Hongkong and Shanghai Banking Corporation's 19th Century house flag, itself derived from the Scottish flag.
4. Bank Of America
Bank of America is based in Charlotte, North Carolina.
Amadeo Giannini founded the Bank of Italy, after the 1906 San Francisco earthquake, and benefitted by providing loans to companies affected by the earthquake. In the late 20's, the bank approached a merger with the Bank of America in 1929 and took the name too.
In 1959, the bank invented the bank credit card, the BankAmericard, which changed to VISA in 1977.
The bank have helped finance thousands of films since the earliest days of Hollywood, including such memorable movies as Snow White and the Seven Dwarfs, It's a Wonderful Life, Lawrence of Arabia and Dances With Wolves.
5. Credit Agricole (France) in the biggest banking group in Europe.
Crédit
Agricole was founded in 1860. Its primary function is to supply credit for French
agriculture. The Crédit Agricole developed into one of the world's largest
banks. During the early 1980s it was the largest.
Crédit Lyonnais was
founded in 1863 in Lyon by Henri Germain, Crédit Lyonnais was nationalised
in 1945. It was the largest bank in France. In the nineties it faced corruption
and scandal. In 2003 it was bought up by Credit Agricole. Credit Agricole is now
the largest bank in Europe. Credit Agricole has numerous divisions such as Calyon
the insraunce division, and Predica and Pacifica.
6. The Royal Bank of Scotland was founded by Royal Charter on 31 May 1727. The new bank opened for business in Ship Close, Edinburgh in December 1727 and immediately began issuing its own Bank Notes a practice which continues today.
The present Royal Bank of Scotland was created through a series of mergers and acquisitions, including Drummonds Bank in 1924, William Deacon's Bank in 1930 and Glyn, Mills & Co in 1939. Both Glyn Mills and William Deacon's Bank continued in business as separate entities and, together with The Royal Bank of Scotland traded as the Three Banks Group until 1970 when the two London clearing banks combined to form William & Glyn's Bank Ltd.
In addition, in 1969, The Royal Bank of Scotland amalgamated with National Commercial Bank of Scotland. Sixteen years later, in September 1985, the business of William & Glyn's Bank and The Royal Bank of Scotland were merged. In 2000, it made a successful bid to take over the London-based National Westminster Bank. In 2005 it bought a share of $3.1 bn in the Bank of China.
http://www.royalbankofscotland.com
7. Mitsubishi Tokyo
The financial group was formed in 1919, when the Mitsubishi Bank was founded to finance Mitsubishi zaibatsu, most of which is now Mitsubishi Heavy Industries.
At the start of the century the Mitsubishi Tokyo Financial Group Inc was one of Japan's largest banks, second only to Mizuho Holdings. Then in 2005, it completed a takeover of UFJ Holdings, one of Japan's largest banks, to form the Mitsubishi UFJ Financial Group. The UFJ Bank was itself established in 2002 by the merger of Sanwa Bank with Tokai Bank
http://www.mtfg.co.jp/ Japanese language version
8. Mizuho Financial Group(Japan)
Mizuho Financial Group is one of the largest financial services companies in the world.
Mizuho Financial Group was formed in Januray 2003, financed by Mizuho Holdings. Then using a share exchange in march of that year, Mizuho Financial Group became sole shareholder of Mizuho Holdings, Inc. Although MHFG has only 350 employees, it holds assets through its control of Mizuho Bank, Mizuho Corporate Bank, and other subsidiaries.
Mizuho Holdings, Inc. was a Japanese holding company, established in 2000 through the merging of Fuji Bank, Dai-Ichi Kangyo Bank, and the Industrial Bank of Japan.
Fuji Bank was one of Japan's major banks during the post War era. It was formed in 1948 from the Yasuda zaibatsu. Dai-Ichi Kangyo Bank was one of the largest banks in the world during the last half of the 20th century. It was formed in 1971 by the Dai-Ichi and Nippon Kangyo Banks merging..
9. HBOS (Halifax Bank of Scotland)
Formed in 2001 by the merger of the Bank of Scotland and the Halifax plc.
The Bank of Scotland was formed by the Scottish parliament, in 1695, and was granted a monopoly over Scottish banking until 1716. It is the oldest surviving bank in the United Kingdom. It became in 1696 the first bank to print its own bank notes. The bank took over the Union Bank of Scotland in 1955.
The Halifax Plc was formed in 1853 in Halifax, West Yorkshire as the The Halifax Permanent Benefit Building and Investment Society. The Halifax grew into the biggest building society in the UK. In 1995 it merged with Leeds building society, and then in 1997 floated on the stock exchange.
10. BNP Paribas
It was formed through a merger of Banque Nationale de Paris and Paribas in 2000.
Banque Nationale de Paris was formed in 1966 by the merger of Banque Nationale du Commerce et de l'Industrie and Conservatoire Nationale d'Escompte de Paris.
The bank is interested in investing money in China.
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Links to other sites on banks
http://en.wikipedia.org/wiki/Bank This givers information on the biggest banks in the planet, and more in depth histories.
http://info.ex.ac.uk/~RDavies/arian/amser/chrono12.html
http://www.scotbanks.org.uk/rbos.htm
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