The “big four banks” in the United States are JPMorgan Chase, Bank of America, Wells Fargo, and Citibank. These banks are not only the largest in the United States, but also rank among the top banks worldwide by market capitalization, with JPMorgan Chase being the most valuable bank in the world.
As the largest bank in the United States, JPMorgan Chase had total assets worth around 3.4 trillion U.S. dollars in 2023. Despite being the bank with the highest market capitalization in the world, the bank ranked only fifth in terms of total assets worldwide, while the top four positions were all held by Chinese banks.
Stability in the banking sector in the United States
All the big four banks in the United States had a common equity tier 1 (CET1) capital ratio well above the required 4.5 percent in the second quarter of 2023. JPMorgan Chase had a CET1 ratio of 13.82 percent, while the highest CET1 ratio among banks in the United States during this period was 17 percent, which was reported by TD Bank, the tenth-largest bank in the United States in 2023.
Aggregate assets at the four largest US banks increased $70.69 billion, or 0.6%, in the fourth quarter of 2023. However, JPMorgan Chase & Co., the largest US bank by total assets, reported a sequential decrease of $22.94 billion, or 0.6%, while Bank of America, Citigroup Inc.
Chase is the largest bank in the country, holding over $3.38 trillion in assets. Bank of America is the second-largest bank with over $2.45 trillion in assets. Wells Fargo is the third-largest bank, holding over $1.7 trillion in assets.
Bank Of America total assets for 2023 were $3180.151B, a 4.22% increase from 2022. Bank Of America total assets for 2022 were $3051.375B, a 3.73% decline from 2021.
With over $3.3 trillion in total assets, JPMorgan Chase & Co. is the largest bank in the United States and the world's largest bank by market capitalization as of January 2, 2024 (source).
The typical American has $1,200 in their savings account -- that's the median savings account balance among Americans surveyed by The Motley Fool Ascent in July 2023. The average savings account balance among Americans surveyed is $25,898.
JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.
What Is the Richest Bank in America? JPMorgan Chase is the richest bank in the U.S., based on Federal Reserve data for consolidated assets. It has over $3.3 trillion in total assets, more than any bank in the country.
The Vanguard Group. The large asset manager owned nearly 135 million shares (8.6% of U.S. Bancorp's outstanding shares) in early 2024, worth over $5.8 billion. ...
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