Finance Companies in 2024: The global financial services industry is witnessing remarkable growth, with the top finance companies playing a pivotal role in shaping its trajectory. As of 2020, the industry is poised to reach a staggering value of nearly $26.5 trillion by 2022. Among these financial giants, Berkshire Hathaway stands out as the largest, boasting annual revenues of USD 247.5 billion and an asset value of USD 707.8 billion.
This fact sheet aims to dissect the top 10 finance companies worldwide by revenue and asset value in 2020. Its objective is to provide valuable insights to business professionals, investors, and individuals keen on understanding the dynamics of the global financial services industry. Key questions addressed include identifying the leading finance companies, examining industry growth rates, and forecasting future trends Finance Companies in 2024.
Here’s a snapshot of the financial services industry statistics:
- Finance and insurance accounted for 7.4% of U.S. gross domestic product in 2018.
- The financial services market is expected to hit nearly $26.5 trillion by 2022, with a projected growth rate of 6%.
- The United States exported $114.5 billion in financial services.
- Notably, the investment services industry witnessed a year-over-year growth of 41.61% in 2019.
Without further ado, let’s delve into the top 10 finance companies by revenue in 2024:
Table of Contents
Finance Companies in 2024
Berkshire Hathaway:
With headquarters in Omaha, Nebraska, Berkshire Hathaway reigns supreme as the largest financial services company globally, boasting a revenue of USD 247.5 billion and an asset value of USD 707.8 billion Finance Companies in 2024.
Ping An Insurance Group:
Hailing from China, Ping An Insurance Group secures the second spot on the list, with annual revenues exceeding USD 163.6 billion and assets valued at over USD 7 trillion Finance Companies in 2024 .
Allianz:
This German powerhouse ranks third, with revenues amounting to USD 143.9 billion and total assets nearing USD 973 billion.
AXA:
The French multinational insurance firm, AXA, secures the fourth position, with revenues reaching USD 113.1 billion and asset value surpassing USD 1 trillion.
JP Morgan Chase:
Coming in fifth is the American multinational investment banking company, JPMorgan Chase, with total assets of USD 2.68 trillion and annual revenue of USD 105.4 billion.
Industrial & Commercial Bank of China (ICBC):
ICBC, the Chinese banking giant, claims the sixth spot, boasting total assets of USD 4.03 trillion and revenue of USD 105.4 billion.
China Construction Bank:
Positioned seventh is China Construction Bank Corporation, with assets valued at USD 3.37 trillion and revenue amounting to USD 95 billion.
China Life Insurance:
China Life Insurance, headquartered in Beijing, ranks eighth, with an asset value of USD 362 billion and revenue of USD 92.7 billion.
Bank of America:
Bank of America, headquartered in Charlotte, North Carolina, secures the ninth spot, with total assets of USD 2.32 trillion and revenue exceeding USD 91.24 billion.
Agricultural Bank of China:
Rounding up the top 10 is the Agricultural Bank of China, boasting assets worth USD 3.287 trillion and revenue of USD 87.6 billion.
These finance companies are not only shaping the global financial landscape but also spearheading innovation across various industries. As we look to the future, these industry titans are expected to continue driving growth and transforming the financial services sector worldwide.
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