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Big Four (banking)

The Big Four (or Big 4) is the colloquial name given to the four main banks in several countries where the banking industry is dominated by just four institutions and where the phrase has thus gained relevance.[1] Some countries include more or fewer institutions in such rankings, leading to other names such as Big Three, Big Five, or Big Six.

International use

Internationally, the term "Big Four Banks" has traditionally referred to the following central banks:[2]

Australia

In Australia, the "big four banks" refers to the four largest banks that have historically dominated Australia's banking industry in terms of market share, revenue, and total assets.[3][4] The "big four banks" of Australia are:[5]

A longstanding policy of the federal government in Australia has been to maintain this status quo, called the four pillars policy. The policy has been maintained through the Global Recession of 2008–09, as Westpac acquired St George Bank and the Commonwealth Bank acquired Bankwest, reinforcing the special status of the "big four".

Austria

The "Big Four" banks of Austria are:[6] *separate legal entities operating under a common brand

  • Erste Bank / Sparkasse* (credit unions)
  • UniCredit Bank Austria (formerly Bank Austria Creditanstalt)
  • Raiffeisen Bankengruppe*
  • BAWAG P.S.K. (formerly Österreichische Postsparkasse)

Belgium

The big four banks of Belgium[7] are a result of national and international mergers in the early 90s.

  • KBC Bank, including its CBC Banque subsidiary in the French Community of Belgium and KBC Brussels brand in the Brussels-Capital Region
  • Belfius, government-owned bank
  • BNP Paribas Fortis, subsidiary of BNP Paribas
  • ING Bank, subsidiary of the ING Group

Brazil

According to S&P Global in 2024, the "Big Five" banks In Brazil[8] (which are also the 5 largest banks in Latin America):

Cambodia

According to the National Bank of Cambodia, the top three largest banks in Cambodia dominates 39.1% (The largest bank in term of total asset is Canadia Bank at 14.2%, followed by ACLEDA Bank at 12.7%, in third place Advanced Bank of Asia (ABA) at 12.2%) of the overall banking assets as of 2020. These banks are:[9]

Canada

There are six banks dominating the Canadian banking sector. Five of these six banks make up what is known as the "Big Five".

China

In the People's Republic of China, the "Big Four" banks (四大银行) are:[10]

In addition to the Big Four banks in China, there are numerous banks in China which would have larger Tier 1 capital than the Big Four banks of other developed countries, such as:

Historically, during the 1920s, the term "Big Four" applied to the Four Northern Banks of the Republic of China (i.e., the four most capitalized commercial banks in Northern China).[11] These were the Yien Yieh Commercial Bank, the Kincheng Banking Corporation, the Continental Bank and The China & South Sea Bank. They were contrasted with the Three Southern Banks of Southern China.

By 1949, the "Big Four" banks were the Bank of China, the Bank of Communications, the Central Bank of China, and the Farmers Bank of China. All four were state-owned. Together with the Central Trust of China, Postal Savings and Remittance Bureau of China, and Central Cooperative Treasury of China, these banks were called the "four banks, two bureaus, one treasury" (四行两局一库).[12]

Colombia

In Colombia, the ten biggest banking service networks are:[13][14]

Czech Republic

In Czech Republic, the "big three" are:[15]

Estonia

Finland

France

According to S&P Global in 2024,[16] the 'Big Six' major banking groups in France are:

Germany

Greece

Hong Kong

HSBC Hong Kong, Standard Chartered Bank (Hong Kong), and Bank of China (Hong Kong) are the three note-issuing banks; Hang Seng and HSBC Hong Kong are both under the common ownership of London-based HSBC Holdings plc. According to Global Retail Banking Cross-sell conducted by RFi group in 2015, HSBC, Bank of China (Hong Kong), and Hang Seng Bank were the top 3 most popular banks in Hong Kong.[17]

India

In India the largest banks, based on total market capitalization, are:[18]

Indonesia

In Indonesia, the four largest bank by total asset, revenue, and market capitalization consists of 3 government-owned bank and 1 private bank. As of 2025, the four largest banks by market capitalization are:[19]

BRI, Bank Mandiri, and BNI are all controlled by the central government as state-owned enterprises as a part of Danantara Indonesia.

Ireland

In Ireland, the term "big four" applies to the four largest banks by market capitalisation.[20][21]

Israel

In Israel, the term "big five"[23] is used instead of "big four".

Italy

According to S&P Global in 2024,[27] the 'Big Five' major banking groups in Italy are:

Japan

In Japan, the term "big three"[30][31] is used instead of "big four". The related term city bank is also sometimes used for these banks. The "big three" are:

These banks are all listed in the Tokyo Stock Exchange (where they are constituents of the Nikkei 225 and TOPIX Core30 indices) and the New York Stock Exchange in the form of American depositary receipts; MUFG and SMBC Group are both additionally listed in the Nagoya Stock Exchange and serve as the financial arms of their respective namesake keiretsu (Mitsubishi for MUFG, Sumitomo and Mitsui for SMBC).

Kenya

  • KCB Bank Kenya Limited
  • Equity Bank
  • Co-operative Bank
  • NCBA Group

Latvia

According to a consumer survey conducted in 2019,[32] the "big four" retail banks in Latvia are:

Lebanon

In Lebanon, where the banks have retained their banking secrecy laws since 1956, which is prevalent in the whole MENA region, and while adopting international measures to fight money laundering, the "big four" banks consist of:[33] Furthermore, as of September 2016, there are more than 51 banks in Lebanon, one of the smallest countries in the Middle East, a fact that has always made investors from the Arab countries, especially the GCC petrodollar in addition to the European and world investors, to place their funds in the Lebanese banks.

  • Bank Audi (founded in 1830 and ranked on the Forbes Magazine Global 2000 list of largest public companies in the world in 2016)
  • Byblos Bank (founded in 1950 as "Société Commerciale et Agricole Byblos Bassil Frères & Co.")
  • BLOM Bank: Banque du Liban et d'Outre-Mer S.A.L (founded in 1951)
  • Fransabank (founded in 1921 as Société Centrale de Banque)

Luxembourg

The "big four" full-service banks in Luxembourg are:[34] There are bigger banks in Luxembourg, but these only deliver a limited number of services such as investment banking, private banking, or corporate banking only. Luxembourg is a financial center.

Macau

In Macau, the four major banks are:[35]

  • Bank of China, Macau Branch
  • Industrial and Commercial Bank of China (Macau)
  • Tai Fung Bank
  • Luso International Banking

Malaysia

According to Central Bank of Malaysia (BNM), the 5 largest Malaysian banks by assets size are:[36]

Mexico

According to S&P Global in 2024, the "Big Four" banks in Mexico[37] (which are within the 10 largest banks in Latin America):

Myanmar

According to Asia Times, the four largest banks in Myanmar are:[38]

Netherlands

The "big four" banks in the Netherlands by market concentration are:[39]

The market leader for the Netherlands, ING Group, is one of the world's largest multinational banking and financial service corporations, with products and services reaching over 41 countries worldwide.[40]

New Zealand

New Zealand is Australia's closest neighbour, with very close cultural and economic ties. The big four Australian banks (often referred to collectively as the "big banks"[41][42][43] or the "big Aussie banks") also dominate the banking sector in New Zealand, through subsidiaries:

Together they hold over 90% of gross loans and advances in New Zealand[44] as well as close to 90% of all mortgages.[45]

These four NZ subsidiaries are massively profitable and sometimes even outperform the Australian parent companies.[46] The extent to which they dominate the banking sector can be seen in profits: In the 2012/2013 financial year, the largest of the Big Banks, ANZ New Zealand, made a profit of NZ$1.37 billion. The smallest, BNZ, made a profit of NZ$695 million.[41] State-owned Kiwibank, community trust-owned TSB Bank, SBS Bank (formerly Southland Building Society) and Heartland Bank, the next four largest banks by profit, made NZ$97 million,[47] NZ$73.5 million,[48] NZ$14 million[49] and NZ$7 million (albeit with an underlying result of about NZ$30 million) respectively.[50] Thus, the profit of New Zealand's next four largest banks (after the Big Four) is equal to less than 30% of the smallest of the Big Four, BNZ.

  • ANZ Bank New Zealand (ANZ), a subsidiary of Australia and New Zealand Banking Group
  • ASB Bank (ASB), formerly Auckland Savings Bank, a subsidiary of Commonwealth Bank of Australia
  • Bank of New Zealand (BNZ), a subsidiary of the National Australia Bank
  • Westpac New Zealand (WBC), formerly WestpacTrust, after a merger with Trust Bank, a subsidiary of Westpac Banking Corporation

Nigeria

The term "Big Five" is used instead of four, with five banks dominating the Nigerian banking world. In 2011, these top five banks had a combined balance sheet, including contingents, of 12.9 trillion naira ($821 billion), 33 percent higher than the prior year.[51]

North Macedonia

According to PricewaterhouseCoopers, the three largest banks in North Macedonia dominate 60% of the banking market share.[52]

Pakistan

In Pakistan, six banks have a market cap of more than $1 billion, three of which are designated by the State Bank of Pakistan as Domestic Systemically Important Banks (D-SIBs)[53]

Panama

Peru

In Peru the "big four" are:[55]

Philippines

The term "Big Four" is not explicitly used in the Philippines. The following are the four largest banks in the country in terms of total assets as of December 2024:[56]

Poland

Based on market capitalization, assets, and systemic importance, the "Big Four" banks in Poland as of 2025–2026 are generally recognized as.

  • PKO Bank Polski (PKO BP): The largest bank in Poland, which is partially state-owned and holds a dominant market share (approx. 15.70% as of late 2024).
  • Bank Pekao (Polska Kasa Opieki): Often ranked second behind PKO BP, it is a significant player with a high level of state ownership through PZU and PFR.
  • Santander Bank Polska: One of the most profitable foreign-owned networks, which has maintained a strong position in the Polish market.
  • mBank: A major player known for digital banking, majority-owned by Commerzbank.

Romania

The Romanian banking system has almost 40 banks, most detained by local financial vehicles and some subsidiaries of foreign banks. The big four are as follows. Other major banks are Raiffeisen Bank, Unicredit Bank, and the ING Bank of Holland subsidiary.

Russia

The largest banks by operations and assets in Russia:

Saudi Arabia

In Saudi Arabia, the "Big Five" are:[57]

Singapore

According to S&P Global in 2024, the "Big Three" banks in Singapore are:[58]

South Africa

In South Africa, the "big five", in order of market capitalization as at September 2025, are:

South Korea

In South Korea, the "Big Six" are:[59]

Spain

As of September 2021, the "big four" in Spain are:[60]

Sri Lanka

In Sri Lanka, the leading banks are, as of 2020[61]

Sweden

In Sweden the "big four" are:[62][63]

Switzerland

In Switzerland, the Big Four are as follows:

Taiwan

In Taiwan, the seven "systemic banks" are:[64][65]

Thailand

The "Big Six" banks in Thailand are as follows:

Before the Siamese Revolution, the banking system was controlled by foreign powers, particularly the "big four" European banks.[67]

  • The Hongkong and Shanghai Bank in 1888 (Now HSBC)
  • The Chartered Bank of India, Australia and China in 1894 (Now Standard Chartered Bank Thailand)
  • Banque de l'Indochine in 1897 (Now Banque Calyon, a subsidiary of Crédit Agricole)
  • Mercantile Bank of India in 1923 (Now Citibank Thailand, a subsidiary of Citigroup)

Turkey

In 2021, the top three largest state-owned banks held over 37.1% of the market share, while Turkey's top four largest foreign-owned banks dominate 22.9% of the overall market share.[68]

State-owned banks

Privately-owned banks

United Arab Emirates

Based on the total assets of listed banks at the end of 2017,<[69]<[70] big five banks in United Arab Emirates are:

United Kingdom

England and Wales and UK as a whole

In relation to England and Wales and the United Kingdom as a whole, the phrase "big four" is used to refer to the four largest High Street retail banking groups:<[71]<[72]

Scotland

In relation to Scotland, the phrase "big four" is used to refer to the four largest banking groups:

Northern Ireland

In relation to Northern Ireland, the phrase "big four" is used to refer to the four largest banking groups:

Historical use

Until 1970, the phrase "big five" (as opposed to "little six")<[74] was used to refer to the five largest UK clearing banks (institutions which clear bankers' cheques), which in England and Wales were:

After the merger of Westminster Bank, National Provincial Bank and District Bank to form National Westminster Bank (now part of NatWest Group) in 1970,<[75] the term "big four" came into use instead.

  • Barclays Bank;
  • Midland Bank (now HSBC UK Bank and part of HSBC Holdings);
  • Lloyds Bank (now part of Lloyds Banking Group);
  • National Provincial Bank; and
  • Westminster Bank.

United States

In the United States, the "big four" banks hold about 45% of all U.S. customer deposits (as of 2018), and each have assets of roughly $1.7 trillion U.S. dollars. As of 2023, they have combined assets of more than $9.2 trillion.<[76] The banks are, in order of size:<[77]<[78]

Regardless of the jurisdiction of charter, all these banks are legally subsidiaries of Delaware-chartered bank holding companies.

From a retail banking perspective, U.S. Bank and PNC Bank both have significantly more branches than Citibank, the retail banking arm of Citigroup.<[79] However, Citigroup still has significantly more assets than U.S. Bancorp and PNC Financial Services.<[80]

Vietnam

In Vietnam, the four major banking groups are:<[81]

As of the start of 2024, the big four held VNĐ13.5 quadrillion worth of public deposits (bank liabilities), equivalent to 50% of all bank deposits nationwide. Meanwhile, during the annual year 2023, these banks represented 42% of the outstanding loans (bank credit) that were issued over this period nationwide, a total of VNĐ685 trillion.<[82]

See also

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