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The financial sector covers banking, payments, capital markets, insurance, credit, and fast-growing nonbank financial institutions. A strong 2026 overview page should focus on current scale and industry structure rather than scattered one-off stats.
Quick Answer (2026): McKinsey says global banking revenues after risk cost reached a record $5.5 trillion in 2024, with net income at $1.2 trillion. The Financial Stability Board also reported that nonbank financial institutions represented 51.0% of global financial assets in 2024.
| Metric | Figure | Year |
|---|---|---|
| Global banking revenues after risk cost | $5.5 trillion | 2024 |
| Global banking net income | $1.2 trillion | 2024 |
| NBFI share of global financial assets | 51.0% | 2024 |
| Largest bank by assets | ICBC, $6.6T+ | 2025 |
McKinsey’s 2025 Global Banking Annual Review says banking revenues after risk cost reached a record $5.5 trillion in 2024, while global banking net income hit $1.2 trillion. That makes banking one of the most profitable and systemically important industries in the world.
The Financial Stability Board says the nonbank financial sector expanded in 2024 and represented 51.0% of total global financial assets. That is important because finance is no longer just a bank story; insurers, funds, private credit, and other intermediaries now hold a majority share of assets globally.
S&P Global Market Intelligence said ICBC remained the world’s largest bank by assets in 2025, with more than $6.6 trillion in total assets.
McKinsey says global banking revenues after risk cost reached $5.5 trillion in 2024.
The FSB says nonbank financial institutions represented 51.0% of global financial assets in 2024.

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Updated Liberty Mutual statistics for 2026: latest annual revenue (2024), net income, net written premium, combined ratio, employee count, key metrics table, historical revenue trend, and FAQs.

Updated Mastercard stats for 2026: FY2025 net revenue, net income, gross dollar volume, switched transactions, cards in circulation, employees, global reach, plus historical revenue/net income and FAQs.

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2026 update: NerdWallet stats including 2024–2025 revenue and net income, business model basics, FAQs, and a quick metrics table with sources.

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Updated PhonePe statistics and facts for 2026, including users, merchant network size, daily transactions, payment volume, market share context, and key milestones with sources.

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