Bank

The essential function of a bank is to provide services related to the storing of deposits and the extending of credit. The evolution of banking dates back to the earliest writing, and continues in the present where a bank is a financial institution that provides banking and other financial services. Currently the term bank is generally understood as an institution that holds a banking license. Banking licenses are granted by bank regulatory authorities and provide rights to conduct the most fundamental banking services such as accepting deposits and making loans. There are also financial institutions that provide certain banking services without meeting the legal definition of a bank, a so called non-bank. Banks are a subset of the financial services industry.

Top ten banking groups in the world ranked by assets in 2003 (In U.S. Dollars)

• Mizuho Financial Group — 1,265 billion
• Citigroup — 1,097 billion
• Allianz — 1,002 billion
• UBS — 907 billion
• Sumitomo Mitsui Financial Group — 903 billion
• Deutsche Bank — 892 billion
• Fannie Mae — 888 billion
• ING Group — 843 billion
• BNP Paribas — 835 billion
• Mitsubishi Tokyo Financial Group — 832 billion