The largest banks in the United States by market capitalization are:
- JPMorgan Chase & Co.
- Market Capitalization: Approximately $677.37 billion.
- Overview: Headquartered in New York City, JPMorgan Chase is a leading global financial services firm offering a wide range of services, including investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and private equity.
- Bank of America Corporation
- Market Capitalization: Around $356.06 billion.
- Overview: Based in Charlotte, North Carolina, Bank of America provides a diverse range of financial services, including consumer banking, corporate and investment banking, wealth management, and global markets operations.
- Wells Fargo & Company
- Market Capitalization: Approximately $242.99 billion.
- Overview: Headquartered in San Francisco, California, Wells Fargo offers various financial services, including banking, investments, mortgage, and consumer and commercial finance.
- Morgan Stanley
- Market Capitalization: About $213.67 billion.
- Overview: Located in New York City, Morgan Stanley is a global financial services firm providing investment banking, securities, wealth management, and investment management services.
- Goldman Sachs Group, Inc.
- Market Capitalization: Approximately $187.93 billion.
- Overview: Also based in New York City, Goldman Sachs is a leading global investment banking, securities, and investment management firm offering a wide range of financial services to a substantial and diversified client base.
These market capitalizations reflect data as of November 11, 2024, and are subject to change due to market fluctuations.
These institutions play a pivotal role in the U.S. financial system, offering a broad spectrum of services that cater to individuals, businesses, and governments.
The leading U.S. banks by market capitalization are:
- JPMorgan Chase & Co. (JPM)
- Market Capitalization: Approximately $677.37 billion.
- Overview: Headquartered in New York City, JPMorgan Chase is a global financial services firm offering investment banking, consumer and business financial services, asset management, and private equity.
- Recent Developments: In 2024, the bank achieved record profitability, with net income rising 18% to $59 billion. CEO Jamie Dimon’s compensation was increased to $39 million, reflecting the bank’s strong performance.
- Bank of America Corporation (BAC)
- Market Capitalization: Around $356.06 billion.
- Overview: Based in Charlotte, North Carolina, Bank of America provides a diverse range of financial services, including consumer banking, corporate and investment banking, and wealth management.
- Recent Developments: The bank reported stronger loan growth compared to some peers, contributing to its financial performance.
- Wells Fargo & Company (WFC)
- Market Capitalization: Approximately $242.99 billion.
- Overview: Headquartered in San Francisco, Wells Fargo offers various financial services, including banking, investments, and mortgage products.
- Recent Developments: The bank experienced weak loan demand across several sectors, which impacted its net interest income.
- Morgan Stanley (MS)
- Market Capitalization: About $213.67 billion.
- Overview: Located in New York City, Morgan Stanley is a global financial services firm providing investment banking, securities, wealth management, and investment management services.
- Recent Developments: The firm increased bonuses for senior and top-performing staff after years of cuts, aiming to retain key talent in anticipation of a surge in dealmaking.
- Goldman Sachs Group, Inc. (GS)
- Market Capitalization: Approximately $187.93 billion.
- Overview: Also based in New York City, Goldman Sachs is a leading global investment banking, securities, and investment management firm.
- Recent Developments: In 2024, the firm reported double-digit growth across many segments, including a 70% year-over-year increase in net interest income and a 20% rise in investment banking revenue. CEO David Solomon’s compensation was increased to $39 million, reflecting the firm’s strong performance.
These institutions play a pivotal role in the U.S. financial system, offering a broad spectrum of services that cater to individuals, businesses, and governments. Their recent financial performances and strategic decisions highlight their adaptability and resilience in a dynamic economic environment.