rise to prominence is also helped with the involvement of Bank of America whichinjected some significant amount of investment for the past few years. In 2005, theChina Construction bank landed into a scandal that involved the Chairman of thecompany, Zhang Enzhao.Zhang was alleged to have received one million dollars bribe from an Americancompany, which in return asked for an award of contract. Zhang eventually resignedfrom his post. The bank has more than 13,000 branches across its native countryChina, as well as active operation in Singapore, Hong Kong, German, Africa, Japanand Korea.Market capitalization – US165.234b. Previous ranking – 7.
5.Bank of China (China(
The third and final bank from China to make it to thetop 10. In China, there is the term referred as the ‘Big Four’ banks and Bank of Chinais one of them.Bank of China is the first bank established in the land of the dynasties. In the earlier years, the bank acted as the Central Bank but then its role was replaced and thenconverted into a full-fledge commercial bank. While the bank has overseas operationin Australia, United Kindom, Canada, United States, Brazil, Japan, Philippines,Malaysia and Korea, the overseas business only accounts for less than 5 percent of thecompany’s overall revenues.Market capitalization – US165.087b. Previous ranking – 6.
6.JPMorgan Chase (US(
JPMorgan Chase offers investment banking, financialservices, wealth and asset management, and private equity. The current entity is aresult of a series of mergers, with its original name did not sound anything like thecurrent, which was the Chemical Banking Corporation.JPMorgan is based in the downtown of New York, Manhattan. Additionally, theinvestment wing of the bank operates a number of offices around the world, withmajor presence in the United States, London, Tokyo, Singapore and Hong Kong.BusinessWeek ranked JPMorgan in the Top 10 Best Places to Launch a Career in2006.