Tag: assets

THE GREAT 10 LARGEST HEALTH INSURANCE COMPANIES IN THE WORLD ACCORDING TO NET PREMIUM WRITTEN(NPW) AND NON-BANKING ASSETS

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Health insurance is an insurance product which covers medical and surgical expenses of an insured individual. It reimburses the expenses incurred due to illness or injury or pays the care provider of the insured individual directly. Health insurance is an insurance that covers the whole or a part of the risk of a person. By estimating the overall risk of health risk and health system expenses over the risk pool, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to provide the money to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity. There are two basic types of health insurance: 1.Mediclaim Plans, 2. Critical Illness Insurance Plans. Medicare or medical costs are rising year on year. As a matter of fact, inflation in medicare is higher than inflation in food and other articles. While inflation in food and clothing is in single digits, medicare costs usually escalate in double digits. One way to provide for medical emergencies is by taking health insurance. Health insurance offers considerable flexibility in terms of disease / ailment coverage.  With health insurance, you are assured of a more secure future both health-wise and money-wise. This makes health insurance policies critical for individuals, especially if they are responsible for the financial well-being of the family. The Great 10 largest Health insurance companies in the world, by net premiums written (NPW) and non-banking assets in the year 2018.

1.UnitedHealth Group Incorporation- United States

UnitedHealth Group Incorporation is an American for-profit managed health care company based in Minnetonka, Minnesota. This brand was created in 2011 as the company’s health services business. UnitedHealth Group incorporated on July 1, 2015, is a health and well-being company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. Among the middlemen tasked with making today’s healthcare efficient and cost-effective is UnitedHealth Group Inc. (UNH), the world’s largest healthcare company by revenue. Primarily an insurer, UnitedHealth Group claims over 130 million customers worldwide. It offers health care products and insurance services. It is the largest healthcare company in the world by revenue, with 2019 revenue of $242.2 billion.  No one plans to fall ill or get hurt, but a serious illness can strike anyone at any time. The cost of treating the illness can cause severe financial strain on the savings you have accumulated over time. It provides health and well-being services to individuals age 65 and older. UnitedHealthcare Global – serves 6.2 million people with medical benefits, residing principally in Brazil, Chile, Colombia and Peru but also in more than 130 other countries. Net Premium Written is US $178,087,000.

2.AXA S.A.-France

AXA is a French multinational insurance firm headquartered in Paris that engages in global insurance, investment management and other financial services. Axa S.A. is a French multinational insurance firm headquartered in the 8th arrondissement of Paris that engages in global insurance, investment management, and other financial services. The Axa Group operates primarily in Western Europe, North America, the India Pacific region, and the Middle East, with a presence also in Africa. Axa is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries. The company was founded in 1816 as Mutuelle de L’assurance contre L’incendie. The firm adopted the Axa name in 1985. AXA SA (AXA), incorporated on February 20, 1985, is a holding company engaged in the business of financial protection. The Company’s segments include Life & Savings, Property & Casualty, International Insurance, Asset Management, Banking and Holding companies.

AXA operates primarily in Europe, North America, Asia Pacific Region and in other regions, including the Middle East, Latin America and Africa. AXA offers a range of Life & Savings products, including Individual and group savings products, as well as Life and Health products for both individual and commercial clients. The Company’s International Insurance Segment operations are focused on risks, reinsurance and assistance. AXA Corporate Solutions Assurance is the Company’s subsidiary engaged in large corporations in terms of property and casualty, loss prevention, risk management, underwriting and claims handling and to specialty markets across the world. The operations in the Banking segment are conducted primarily in Belgium, France and Germany. AXA Bank’s products and offers are linked with insurance business and are focused on retail products. AXA Banque has approximately 715,000 registered customers, with a retail banking product offer.  Net Premium Written is US $103,033,468 in the year 2018.

3.Ping An Ins (Group) Co of China Ltd.-China

Ping An Insurance also known as Ping An of China and the company’s name Ping An translates to “safe and well”. over 204 million retail customers and 534 million Internet users, Ping An is one of the largest financial services companies in the world. Ping An Life, through its nationwide service network of over 40 branches, including approximately six telemarketing centers, and over 3,000 business outlets, provides individual customers and institutional clients with life insurance products. With The company has 236,000 employees and 635,000 insurance agents. China Ping An Insurance  Company Limited  also offers property and casualty insurance service in the Hong Kong market.  Ping An Insurance (Group) Company of China, Ltd., incorporated on March 21, 1988, is a personal financial services provider. The Company provides insurance, banking, investment, and Internet finance products and services.

The Company operates through six segments: life insurance, property and casualty insurance, banking, trust, securities and corporate. The life insurance segment offers a range of life insurance products to individual and corporate customers, including term, whole-life, endowment, annuity, investment-linked, universal life and healthcare insurance. The property and casualty insurance segment offers a range of insurance products to individual and corporate customers, including automobile insurance, non-automobile insurance, and accident and health insurance. The banking segment undertakes loan and intermediary businesses with corporate customers and retail business, as well as wealth management and credit card services with individual customers. The trust segment provides trust services and undertakes investing activities. The securities segment undertakes brokerage, trading, investment banking and asset management services. The corporate segment includes the management and support of the Company’s business through its strategy, risk, treasury, finance, legal and human resources functions, among others. Ping An stands out among Chinese financial institutions for its aggressive acceptance of foreign capital.  The company is considered to be China’s biggest insurer, with US$107 billion in gross premium income in 2018. Its market capitalization is at US$220 billion in July 2019. These business segments contributed 69%, 15%, 11%, 6%, and 2% of the company’s net profit, respectively, in 2019.

4. China Life Insurance (Group) Company- China

The company is a life insurance company established in Beijing, China on 30 June, 2003. China Life Insurance also handles non-life insurance products. China Life Insurance (Overseas) Company Limited, a wholly owned subsidiary of China Life Insurance (Group) Company which is the largest state-owned financial insurance corporation in China, is the strategic headquarter for overseas business development of the parent company. The parent company has been taking firm strides to develop modern insurance services and realize the “China Life Dream” of becoming a premier international financial insurance group.  And with strong support from the parent company, China Life Insurance Company Limited has already built business networks in Hong Kong, Macau, Singapore and Indonesia. The primary focus of the Company is the enhancement of profits and creation of value through organic growth as well as mergers and acquisitions.

China Life Insurance Company Limited  is a Beijing-headquartered China-incorporated company that provides life insurance and annuity products. With 70% state-ownership, China Life is the biggest life insurer in China in terms of total assets, but has experienced economic difficulty in the past years. China’s insurance market has attracted dozens of new competitors after the Chinese government liberalized. It also provides both individual and group accident and short-term health insurance policies and services. It has more than 300 million individual and group policies in force. China Life sells its individual products primarily through its own network, comprised of exclusive agents, direct sales representatives, and dedicated and non-dedicated agencies. In addition to life insurance, the company provides asset management services and health and accident insurance. Net Premium Written is US $ 92,360,557 in the year 2018.

5. Kaiser Foundation Group of Health Plans- United States

Kaiser Permanente is an American integrated managed care consortium, based in Oakland, California, United States, founded in 1945. Kaiser has an integrated care model, offering both hospital and physician care through a network of hospitals and physician practices operating under the Kaiser Permanente name. Kaiser Permanente operates in eight states like Hawaii, Washington, Oregon, California, Colorado, Maryland, Virginia, Georgia and the District of Columbia, and is the largest managed care organization in the United States. Each entity of Kaiser Permanente has its own management and governance structure, although all of the structures are interdependent and cooperative to a great extent.  Kaiser Permanente is one of the largest nonprofit healthcare plans in the United States. 

As of 2019, Kaiser Permanente had 12.2 million health plan members, 218,297 employees, 22,914 physicians, 59,127 nurses, 39 medical centers, and 706 medical facilities. The Permanente Medical Groups, which provide care for Kaiser Permanente members, continuously develop and refine medical practices to help ensure that care is delivered in the most efficient and effective manner possible.  Each Permanente Medical Group operates as a separate for-profit partnership or professional corporation in its individual territory, and while none publicly reports its financial results, each is primarily funded by reimbursements from its respective regional Kaiser Foundation Health Plan entity. KFHP is one of the largest not-for-profit organizations in the United States. Net Premium Written is US $ 92,054,688 in the year 2018.

6. Anthem, Inc. – United States

Anthem, Inc., incorporated on July 17, 2001, is a health benefits company. Anthem is a leading health benefits company dedicated to improving lives and communities, and making healthcare simpler. The Company operates through three segments: Commercial and Specialty Business, Government Business and Other. It is the largest for-profit managed health care company in the Blue Cross Blue Shield Association. The company was formed by the 2004 merger of WellPoint. Through its affiliated companies, Anthem serves more than 106 million people, including 42 million within its family of health plans.  Anthem companies serve members as the Blue Cross licensee for California; and as the Blue Cross and Blue Shield licensees for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia, and Wisconsin. Anthem Inc.’s also serve customers in many states across U.S. The company operates as Anthem Blue Cross in California, where it has about 800,000 customers and is the largest health insurer. It operates as Empire BlueCross BlueShield in New York State and as Anthem Blue Cross and Blue Shield in 10 states. There may be times when we use other companies to give our members and providers certain types of services, like Utilization Management or Case Management. It would always make sure that it was approved by law and allowed by our contracts beforehand.

Radiant Services, LLC may be part of the approval process for care you receive. Whether Radiant is involved or not, the process is the same. Radiant has some staff outside the United States. They want to help you get access to quality, efficient care that is backed by scientific research. Its managed care plans include preferred provider organizations (PPOs); health maintenance organizations (HMOs); point-of-service (POS), plans; indemnity plans and other hybrid plans, including consumer-driven health plans (CDHPs); and hospital only and limited benefit products. In addition, it provides an array of managed care services to self-funded customers, including claims processing, underwriting, stop loss insurance, actual services, provider network access, medical cost management, disease management, wellness programs and other administrative services. It provides an array of specialty and other insurance products and services, such as dental, vision, life and disability insurance benefits, radiology benefit management and analytics-driven personal healthcare. It also provides services to the federal government in connection with the Federal Employee Program (FEP). Net Premium Written is US $85,048,000 in the year 2018. provides non-BCBS plans under the Unicare, Amerigroup, CareMore, Simply Healthcare, HealthSun, HealthLink, and other brands in more than 25 states. Plans include PPO, HMO, POS, indemnity, and hybrid plans offered to employers, individuals, and Medicare and Medicaid recipients.

7. Allianz SE- Germany

Allianz SE is the holding company of the Allianz Group. Allianz SE operates in the field of reinsurance, providing reinsurance protection for Allianz Group companies, in particular. Allianz, headquartered in Munich, is a German financial services company operating mainly in the insurance and asset management sectors globally. As of December 31, 2019, Allianz SE employed 1,673 people. Besides Allianz SE, the Allianz Group comprises subsidiaries with over 147,000 employees in more than 70 countries. With revenues reaching approximately 127 billion U.S. dollars in 2018, it was the third largest insurance company worldwide.  Allianz has more than 85 million customers worldwide and its services include property and casualty insurance, life and health insurance and asset management. Allianz operates through Allianz Belgium, previously AGF Belgium which has been re-branded to Allianz Belgium in November 2007.

The Life or Health segment offers a range of life and health insurance products on both an individual and a group basis.  Allianz is one of the world’s largest investors, managing over 650 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.4 trillion euros of third-party assets. It runs the Asset Management business out of two distinct investment management businesses, PIMCO and Allianz Global Investors (AllianzGI). Both units operate under Allianz Asset Management (AAM). Particular strongholds include the United States, Germany, France, Italy, the United Kingdom and the Asia-Pacific region. Net Premium Written  is US $83,203,137 in the year 2018.

8. Assicurazioni Generali S.p.A. – Italy

Assicurazioni Generali S.p.A. or simply Generali Group is an Italian insurance company based in Trieste.  It is the largest of its kind in Italy and among top 10 in the world.  Assicurazioni Generali Austro-Italiche, the company was founded on December 26, 1831. The company grew in importance, becoming one of the largest insurance operators both in Italy and in Central Europe.  The Group operates through three segments: Life, Non Life, and Holding and other business. The Life segment include saving and protection products, both individual and for families, as well as products with investments purposes for companies. The Non-life segment provides various insurance products related to casualty, accident, health, and company plans. The Holding and other business segment includes non insurance assets, mostly banking and asset management activities. The Company is active globally.  Generali’s major competitors at international level are AXA, Allianz and Zurich. Besides them, there are companies competing at local and regional level in various countries and markets.  Today Generali operates primarily in Europe, Middle East and East Asia, with large market shares in Italy, Poland, Hungary, Germany, France, Austria, Slovenia, The Netherlands, Croatia, Serbia, Spain, Switzerland, Romania, Israel, Japan, China and Bosnia and Herzegovina, with secondary operations in Latin America.

In India the company is represented by Future Generali, a joint venture of Future group and Assicurazioni Generali. It provides both life and property or casualty insurance. The Non-Life business is known as Future Generali India Insurance Company Limited. The Life business is known as Future Generali India Life Insurance Company Limited. Main Subsidiaries of the group includes, in Italy: Genertellife, Alleanza Assicurazioni, Generali Italia and Banca Generali. Generali confirms its leadership position in the Italian insurance market with an overall share of 16.2% as it can rely on a complete range of insurance solutions for its clients in both the Life and P&C segments. During 2019, Generali Italia continued to implement its simplification programme with the goal to improve the customer experience by simplifying the relationship between customers and agents for the entire process by providing more and more accessible and innovative services. The Group’s global initiative for the society, Generali Italia launched Ora di Futuro. Net Premium Written  is US $72,617,727 in the year 2018.

9. State Farm Group – United States

State Farm Mutual Automobile Insurance Company is the parent company of several affiliates and subsidiaries that provide property and life insurance, banking products, and mutual funds.  It was founded in 1922. It is also the largest auto insurance provider in the United States. Approximately it has  59,000 employees and it consists of  84M policies and accounts in force in the U.S. as of December 2019. About 60% of State Farm households have more than one product. In 2019, Fire and Auto Claims handled about 22,000 claims per day. Through its two life insurance affiliates, State Farm Life was the second largest U.S. ordinary individual life insurer based on policies in force according to S&P Global Market Intelligence.  State Farm offers about 100 products with approximately 19,200 agents.

The group’s parent company is State Farm Mutual Automobile Insurance Company, which is a mutual insurance company based in Bloomington, Illinois.  State Farm is best known for offering property and casualty (P&C) insurance products, especially in personal lines. It offers life and health insurance, annuities, mutual funds and banking products.  Nearly 867,000 policies were there in health. Net Premium Written is US $70,832,964 in the year 2018.  In 2019, the insurer announced personal auto insurance rate reductions in multiple states including: Arizona, Louisiana and South Carolina.

10. People’s Insurance Company (Group) of China Ltd.- China

The People’s Insurance Company (Group) of China Limited (abbreviated as PICC Group or PICC) is the first nationwide insurance company in China and has developed into a leading large-scale integrated insurance financial group in the People’s Republic of China. It was founded in October 1949 and headquartered in Beijing.  The Company is mainly engaged in property insurance, health insurance, life insurance, reinsurance, Hong Kong insurance, pension insurance and operating insurance business.  The group provides insurance products for accident, universal life, general life, family property, travel, auto, health, personal credit loan guarantee and performance guarantee. It also offers cargo insurance, credit guarantee insurance, special risk insurance, engineering insurance, employer liability insurance, export product liability insurance, safety production liability insurance, government rescue insurance and technological equipment insurance.  The Chinese Central Government is the controlling shareholder.

On December 7th 2012, PICC Group successfully completed its IPO on Hong Kong Stock Exchange, which was China’s first group listing of state-owned financial insurance conglomerate.  In 1996, it became a holding company, as People’s Insurance Company  of China  Three subsidiaries were formed, as property insurer, life insurer and reinsurer respectively. PICC has branch offices in London and New York as well as in the cities and towns of China. PICC Health was a joint venture with German insurer DKV  and other investors. The Life Insurance covers personal, personal insurance products-wealth management, groups, banks, and e-commerce platform online insurance. Health Insurance is a form of insurance that provides coverage or financial security for the medical expenses incurred by the policyholder. Based on the chosen health insurance plan, the policyholder gets coverage for hospitalization, day-care facility, treatment costs for listed diseases, surgical expenses along with reimbursement of the acquired expenses. Net Premium Written is US $68,204,489 in the year 2018.

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THE GREAT 10 BIGGEST BANKS IN THE WORLD ACCORDING TO THE BANKS’ TOTAL ASSETS

by Sree DivyaUncategorizedLeave a Comment on THE GREAT 10 BIGGEST BANKS IN THE WORLD ACCORDING TO THE BANKS’ TOTAL ASSETS

A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be performed either directly or indirectly through capital markets. A bank is the extension of credit, and for facilitating the transmission of funds. Due to the importance of banks in the financial stability of a country, most jurisdictions exercise a high degree of regulation over banks. Here are The ranking of the 10 biggest banks are built according to banks’ total assets.

1.Industrial and Commercial Bank of China (ICBC)

The largest and richest bank in the world is the Industrial and Commercial Bank of China (ICBC). ICBC’s headquarters are located in Beijing. By the total number of assets, customers, employees, loans and deposits; ICBC, as it’s often referred to, completely dominates the rest of the biggest banks in the world. ICBC has $4,322 billion total assets according to the latest data, and its market capitalization totals $424 billion. It has more than 4,60,000 employees. 70% of government-owned company ranked number one all over the 1000 Banks. ICBC’s total assets are thought to be in the region of $4.2 trillion dollars according to the latest data. Almost 1/5 of all bankings are in China only.

  1. China Construction Bank Corporation

According to the latest data, it has $3,822 billion in assets, and its market capitalization totals more than $204 billion. Originally, CCB was created for government exchanges, and only later, it was redeveloped into the commercial bank. The company operates more than 14,000 branches all around the globe, with about 372,000 employees. China Construction Bank Corp. engages in the provision of a wide range of financial services to corporate and personal customers. It operates through the following business segments: Corporate Banking, Personal Banking, Treasury, and Others. The Corporate Banking segment provides a range of financial products and services to corporations, government agencies and financial institutions, which comprises of corporate loans, trade financing, deposit taking and wealth management services, agency services, financial consulting and advisory services, cash management services, remittance and settlement services, custody services, and guarantee services.
The Personal Banking segment provides personal loans, deposit taking and wealth management services, card business, remittance services, and agency services to individual customers. The Treasury segment represents inter-bank money market transactions, repurchase and resale transactions, investments in debt securities, and trade of derivatives and foreign currency. The Others segment refers to equity investments and revenues, results, assets and liabilities of overseas branches and subsidiaries. The company was founded in October 1954 and is headquartered in Beijing, China. The company was founded in 13,629 domestic branches.

  1. Agricultural Bank of China

Agricultural Bank of China (ABC), also known as AgBank. It was founded in 1951, and has its headquarters in Dongcheng District, Beijing and ABC has nearly 24,000 representatives in the country and abroad. Total assets of the Agricultural Bank of China comprise more than $3,698 billion, and according to the latest data, its market capitalization is $147 bln. This bank was established to support agriculture. This bank today also handles loans to nonagricultural businesses and individuals. It is one of the four major state-controlled banks. Agricultural Bank of China engages in the provision of international commercial banking and financial services. This is driven by bank’s long history of receiving state support. ABC was designated as a global systematic important bank. ABC is China’s third-largest commercial bank by total assets.
The bank has one of the largest domestic networks, which extends deeply into China’s county areas. This helps the bank build a commanding franchise in rural markets and provides it with a low-cost and stable deposit base. The central government is ultimately the largest shareholder of all five state banks and has a record of providing solvency and asset-quality support. Since the late 1970s, the Bank has evolved from a state-owned specialized bank to a wholly state-owned commercial bank and subsequently a state-controlled commercial bank. The Bank was restructured into a joint stock limited liability company in January 2009. In July 2010, the Bank was listed on both the Shanghai Stock Exchange and the Hong Kong Stock Exchange, which marked the completion of our transformation into a public shareholding commercial bank.

  1. Bank of China ltd

The Bank of China is one of the oldest and most reliable banks in China. It is one of the four biggest state-owned commercial banks in China. It was created in 1912 and still leads in the national banking sector. Over 70% of the company belongs to the Chinese government, and it has offices in over 20 countries. According to the data, its assets are near $3,387 billion, and its market capitalization is about $113 bln. Bank of China is legally separate from its subsidiary Bank of China , although they maintain close relations in management and administration and co-operate in several areas including reselling BOC’s insurance and securities services. Its headquarters are in Xicheng District, Beijing. In Hong Kong, Frankfurt and other financial centers across the globe, the bank functions as clearing house of the currency. The bank is also the issuer of overseas yuan-denominated bonds.

Mumbai holds the pride of being the wealthiest city in India, with the highest GDP of all the cities in South, West and the Central Asia. The city houses important financial institutions such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, the SEBI and the corporate headquarters of numerous Indian companies and multinational corporations. Bank of China has commenced its business in India by launching the first branch in Mumbai in June 2019. The India branch works on the international network of Bank of China across the globe, with a world class banking, professional strengths and a diversified platform of the Bank across various sectors. Operating strictly in compliance with local laws and regulations, Bank of China India Branch provides comprehensive business services in Corporate Banking, Treasury and Branch Banking.

  1. JPMorgan Chase

JPMorgan Chase is one of the most eminent and popular US banks. This company was created in 2000 as a result of merging several huge banks. JPMorgan Chase HQ is located in Manhattan, New York City. It is one of the largest investment companies in the world. Now its assets total $3,139 bln, and its market capitalization is over $292 bln, which also makes it one of the most expensive companies in the world. JPMorgan Chase & Co. provides global financial services and retail banking. The Company provides services such as investment banking, treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance.
JP Morgan Chase serves business enterprises, institutions, and individuals. JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company. It is also the world’s most valuable bank by market capitalization. The Chase brand is used for credit card services in the United States and Canada, the bank’s retail banking activities in the United States, and commercial banking. Both the retail and commercial bank and the bank’s corporate headquarters are currently located at 383 Madison Avenue in Midtown Manhattan, New York City, while the prior headquarters building directly across the street, 270 Park Avenue, is demolished and replaced with a new building.

  1. HSBC Holdings plc

London’s HSBC is one of the biggest banks in Europe, totaling $2.92 tln. in assets. Originally, the purpose of its creation was to perform exchanges between Europe and China, and it still stays crucial in such actions. It also has more than 10 subsidiaries, which perform all possible operations inside this sector.
HSBC Holdings plc is a multinational investment bank and financial services holding company. HSBC traces its origin to a hong in British Hong Kong and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991. The Hongkong and Shanghai Banking Corporation opened branches in Shanghai in 1865 and was first formally incorporated in 1866.
HSBC has around 3,900 offices in 65 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, and around 38 million customers. HSBC is organised within four business groups: Commercial Banking, Global Banking and Markets, Retail Banking and Wealth Management, and Global Private Banking. In 2020, the bank announced that it would consolidate its Retail Banking & Wealth Management arm with Global Private Banking, to form Wealth & Personal Banking. HSBC has a dual primary listing on the Hong Kong Stock Exchange and London Stock Exchange and is a constituent of the Hang Seng Index and the FTSE 100 Index. Key Role as European Hub: HSBC Bank plc’s Issuer Default Ratings (IDRs) are driven by support from its ultimate parent, HSBC Holdings plc.

  1. Mitsubishi UFJ Financial Group

This Japanese holding company has $2.89 tln. in assets, which makes it one of the “best” banks in Japan. MUFG’s department network spread all around the world allows MUFG to perform in 40 different countries. The company was created in 2005 by the merger of the two largest banks of Japan, and its headquarter is located in Osaka City. MUFG has the target of 550.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2021. MUFG is engaged in financial service businesses such as banking business, trust banking business, securities business and credit card/loan businesses. Because there are various uncertainties caused by economic situation, market environments and other factors in these businesses, MUFG discloses a target of its profits attributable to owners of parent instead of a forecast of its performance.
The forward-looking statements are made based upon, among other things, the company’s current estimations, perceptions and evaluations. In addition, in order for the company to adopt such estimations, forecasts, targets and plans regarding future events, certain assumptions have been made. Accordingly, due to various risks and uncertainties, the statements and assumptions are inherently not guarantees of future performance, may be considered differently from alternative perspectives and may result in material differences from the actual result. The financial information included in this financial summary report is prepared and presented in accordance with accounting principles generally accepted in Japan. Differences exist between Japanese GAAP and the accounting principles generally accepted in the United States in certain material respects. Such differences have resulted in the past, and are expected to continue to result for this period and future periods, in amounts for certain financial statement line items under U.S. GAAP to differ significantly from the amounts under Japanese GAAP. For example, differences in consolidation basis or accounting for business combinations, including but not limited to amortization and impairment of goodwill, could result in significant differences in our reported financial results between Japanese GAAP and U.S. GAAP.

  1. Bank of America (BoA)

The BoA is the second largest bank in the USA. It has an extensive range of financial services in the whole country and abroad. The headquarters are located in Charlotte City, North Carolina. According to the BoA balance sheet has $2,620 bln. assets and its market capitalization is about $209 bln. Mitsubishi UFJ Financial Group, Inc. operates as a holding company, which provides financial services through its subsidiaries. It operates through the following segments: Integrated Retail Banking Business Group, Integrated Corporate Banking Business Group, Integrated Trust Assets Business Group, Integrated Global Business Group, Global Markets and Others. The Integrated Retail Banking Business Group segment manages domestic business that provides retail banking services, which includes commercial and trust banking; securities trading; and retail product development, promotions, and marketing.
The Integrated Corporate Banking Business Group segment covers all domestic corporate businesses, including commercial banking, investment banking, trust banking, and securities businesses. The Integrated Trust Assets Business Group segment provides asset management and administration services for pension and security trusts, in addition to consultation services for pension management schemes and payouts. The Integrated Global Business Group segment covers businesses outside of Japan. The Global Markets segment offers assets and liability management, strategic investment, foreign exchange operations and financial products. The Others segment operates corporate centers of related companies. The company was founded on April 2, 2001 and is headquartered in Tokyo, Japan.

  1. BNP Paribas

BNP Paribas was created in 1999, and now it tops the financial, banking, and insurance rankings. Currently, the company has representatives all around the globe, and its headquarters are located in Geneva, Paris, and London. BNP Paribas has been named “World’s Best Bank for Corporates” and “World’s Best Bank for Financial Inclusion” 2020 by Euromoney, a publication specializing in international finance. As a European leader and a leading international banking player, BNP Paribas is recognized for the expertise of its teams and its transversal approach to its business lines, which are grouped into Corporate and Institutional Banking, Domestic Markets and International Financial Services, in order to offer the best possible service to our clients. For example, in the EMEA region, BNP Paribas’ banking teams coordinated more than €46 billion of DCM (Debt Capital Market) transactions over the past year. In addition, the Group continued to intensify its efforts in several areas to integrate sustainable development into its products and operating processes, introduce significant measures and help its clients to accelerate this transition.
BNP Paribas has thus introduced proactive sector policies, taken financial steps to promote sustainable financing, and supported its clients in integrating sustainable development into their activities through innovative financing solutions. Its assets compound to $2,336 bln and the bank has $39 bln of market capitalization. We have also invested in the products and people to provide simple and effective solutions in the world’s fastest growing markets. We are experts in capital markets, advisory and financing businesses. Our client-centric model aims to anchor its leadership position in Europe and leverage the rapid growth in Asia. BNP Paribas was one of the first banks to start a dialogue with India in 1860 begining operations in Calcutta (renamed Kolkata). We have since then spread our branches to eight key metros & mini metros and widened and enriched our product repertoire. Today, BNP Paribas is the second oldest foreign bank on the Indian soil and is positioned amongst the leading corporate banks in India. A shareholders’ Club set up in 1995, is open to “individual” shareholders holding at least 200 shares. As of today it counts more than 63,000 members. Meetings with shareholders are arranged during the year in the main regional cities: the bank’s policy is presented by senior executives of BNP Paribas and members of the Top Management.

  1. Credit Agricole

Credit Agricole is one of the largest companies in France, which successfully controls a large part of the banking sector inside the country. Credit Agricole CIB has been present in India since 1981 and is located as today in Bangalore, Chennai, Delhi, Mumbai and Pune. From these 5 branches, the Bank also deals with the large markets in Ahmedabad, Kolkata, Hyderabad and Baroda. The Bank offers a comprehensive range of products and services, tailored to the needs of Indian companies, multinational companies and financial institutions. It has a balance of $1,984 bln. in assets. Gross customer capture was strong, with 416,000 new customers captured since the start of the year, and a 25,000 increase in the customer base. Lastly, commercial activity in capital markets was buoyant in order to meet customer needs in terms of hedging and bonds. In the first quarter of 2020, Credit Agricole Group’s stated net income Group share came to €908 million versus €1,350 million in the first quarter of 2019.
For Crédit Agricole S.A., the underlying net income Group share reached €1.1 bn for the second quarter of 2020, down -10.9% compared to 2019, and €1.8 bn for the first half of the year. Credit Agricole SA set aside more than expected to cover souring loans in the second quarter after the covid pandemic hit the French lender’s retail clients and large corporate customers. Provisions in the three months through June jumped to 842 million euros ($998 million), higher than the 775 million-euro estimate of analysts polled by Bloomberg. Costs to cover souring debt drove down results at some of the lender’s most important business units, including the large clients segment, which saw a five-fold increase in the cost of risk from a year earlier.
Credit Agricole is more diversified and less dependent than rivals BNP Paribas SA and Societe Generale SA on trading, though it did benefit from the volatility that boosted fixed income results at rivals. At the same time it was able to avoid the dividend-related losses that caused management upheaval earlier this week at SocGen and Natixis.

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