This article is going to be about the largest financial services companies in the world, based on Insider Monkey’s latest article. What does a financial services company mean? Acutally, financial services company comprises a wide range of things, such as stock brokerages, investment funds, credit card companies, credit unions, insurance companies, accountancy companies, consumer finance companies and many others. The sector’s estimated value is predicted to reach $22.5 trillion by 2022. Regarding to the market capitalization, the banking sector currently is worth around $7.9 trillion.
Anyhow, the pandemic hit of 2020 has reached the financial sector also. More than 60 milion people were infected with the coronavirus, and more than one people have died. Consequently governments went into lockdown, and whole industries were forced to close up, or at least slow down. This resulted large market crashes in March 2020 gold prices rose simultaneously since gold is considered to be a much safer investment. And although several vaccines have been developed, the end of the pandemic is still far, and no-one can foretell its impacts in the future.
And now, let’s take a look at the financial companies. We have picked up two of them from Insider Monkey’s list. At first, on the fourth spot, there is Berkshire Hathaway (NYSE:BRK.A). Ranking by only its revenue, Berkshire Hathaway is by far the biggest financial services company all over the world.
Total revenue in 2019 (in millions of dollars): 254,616
Total profit in 2019 (in millions of dollars): 81,417
Total assets in 2019 (in millions of dollars): 817,729
Total employees in 2019: 391,500
On the third spot we can see China Construction Bank. Generally speaking, the Chinese companies are always among the largest leaders in the world, China Construction Bank isn’t an exception, either. It owns more than 13,000 branches inland alone, and there are branches in many countries, such as Luxembourg, the United States, South Korea, Japan and Australia. For more information and details, please skip ahead to the list of the largest financial services companies in the world.
Total revenue in 2019 (in millions of dollars): 158,884
Total profit in 2019 (in millions of dollars): 38,610
Total assets in 2019 (in millions of dollars): 3,651,645
Total employees in 2019: 370,169