What is the name of the largest commercial bank in the world by total assets as of 2023?

As of 2023, the world's largest commercial bank by total assets was the Industrial and Commercial Bank of China, or ICBC.

ICBC is a Chinese state-controlled financial institution established in 1984. It grew into one of the country's major “Big Four” commercial banks, alongside China Construction Bank, Agricultural Bank of China and Bank of China. By the end of 2023, its consolidated assets were roughly RMB 45 trillion, with the exact U.S.-dollar comparison varying according to exchange rates and ranking methodology.

The word “commercial” matters here. The People's Bank of China is the country's central bank, not a commercial lender competing in global asset rankings. JPMorgan Chase is the largest bank in the United States, but it ranked below ICBC in total assets in commonly cited 2023 global comparisons.

Asset rankings can change with exchange rates, reporting dates and whether analysts compare groups or individual subsidiaries. For the stated 2023 comparison, however, ICBC is the standard canonical answer.