What are the four major banks?
The four major banks that people talk about in daily life mainly refer to the four major commercial banks, namely the "four major banks of industry, agriculture, China and construction". In fact, there are four major commercial banks and four major investment banks in our country. They are all called the "Four Major Banks". Let's take a brief look at the situation of the "Four Major Banks".
1. Four major commercial banks
The four major banks in my country are Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Agricultural Bank of China.
ICBC was established in 1984 and is the latest among the four major banks. But now, its scale is the largest among the four major banks. So far, the market value of ICBC has reached as high as 2 Trillions.
China Construction Bank was established 30 years earlier than ICBC, and was officially established on October 1, 1954. The current market value has reached 1.8 trillion, making it the second largest bank after Industrial and Commercial Bank of China.
The Rural Cooperative Bank established in 1951 is the predecessor of today’s Agricultural Bank of China, with a current market value of about 1.3 trillion. A relatively well-known feature of Agricultural Bank of China is its large number of branches. In any town or town, you can basically find branches of the Agricultural Bank of China.
The establishment of the Bank of China can be traced back to 1912. It was established with the approval of Mr. Sun Yat-sen. I don’t know whether it is because of the name or historical reasons. From its establishment in 1912 to the founding of the People’s Republic of China in 1949 In the past 37 years, it has served as the central bank of the country, the international exchange bank and the specialized foreign trade bank. In 1979, Bank of China also became a state-designated specialized bank for foreign exchange and foreign trade. As of now, the market value of Bank of China is about 1.1 trillion.
2. The Four Major Investment Banks
In addition to the four major state-owned commercial banks, there are also four major investment banks in my country, namely the "Big Four Investment Banks".
The four major investment banks include: Haitong Securities, China Merchants Securities, CICC, and CITIC Securities.
Investment banking is the abbreviation of investment banking, which is the name of the United States and continental Europe. Different regions have different names. In the UK, they are called merchant banks, while in Japan, they are referred to as securities companies. They are a type of financial institution corresponding to commercial banks.
Different from commercial banks, investment banks are non-bank financial institutions mainly engaged in securities issuance, underwriting, trading, corporate restructuring, mergers and acquisitions, investment analysis, venture capital, project financing and other businesses. They are capital market major financial intermediaries.