The United Nation’s biggest banks have grown tremendously. Together, the top 4 largest banks now hold $7.99 trillion in assets. Here are the top 4 largest banks in the United States.
- JPMorgan Chase & Co.
JPMorgan Chase & Co. is a multinational bank headquartered in New York City. It is the second most valuable bank by market civilization. Chase is also the largest bank in the United States, the world’s sixth-largest bank by assets valued at roughly US$2.5 trillion. The bank was formed in 2000, according to Forbes magazine, it is the world’s sixth-largest public company based upon a composite ranking. JPMorgan Chase & Co. is considered to be a universal bank and a custodian bank.
- Bank of America Corporation
Bank of America is a multinational banking and financial services headquartered in North Carolina. It is ranked the 2nd largest bank in the United States by assets. In 2016, it was ranked no.11 on the Forbes Magazine Global 2000 list of largest companies in the world, it was also ranked the 26th largest company in the United States by total revenue. The assets of the bank value at $ 2.17 trillion. Bank of America operates in all 50 states of the United States and more than 40 other countries. The bank serves 46 million consumer and small business relationships at 4,600 banking centers and 15,900 automated teller machines (ATMs). Bank of America has formed a partnership with the United States Department of Defense creating a newly chartered bank DOD Community Bank.
- Citigroup Bank
Citigroup bank is an American multinational investment banking and financial services corporation headquartered in New York City. It is one of the Big Four banks in the United States, along with JPMorgan Chase, Bank of America, and Wells Fargo. Citigroup was also ranked 29th in size on the Fortune 500 list. The bank was formed on October 9, 1998, after the mergers of Citicorp and Travelers Group in 1998. The Citi bank operates in over 160 countries around the globe. Citi’s assets are valued at $1.88 trillion.
- Wells Fargo
Wells Fargo & Company is an American international banking and financial services. In 2015, it was the world’s largest bank by market capitalization, however, the position is now taken by JPMorgan. In 2016, Forbes Magazine Global 2000 list ranked it as the 7th largest public companies in the world and Fortune 500 list of largest companies ranked Wells Fargo 27th in the United States. According to statistics, the company was also ranked the 7th most respected and 22nd most admired company in the world. The assets of the bank are valued at $1.44 trillion.