In 2022, J.P. Morgan Chase was the commercial bank with the highest revenue in the United States, with a total revenue of 128.7 billion U.S. dollars. Bank of America and Wells Fargo followed, with 94.95 and 78.79 billion U.S. dollars, respectively. These three banks were also the largest banks in terms of total assets in the United States that year.
Commercial banking
A commercial bank is a bank that offers financial services to private customers and companies such as accepting deposits, checking services or loans. Commercial banks earn money through interest rates on the loans that they offer. Such rates are significantly higher than the interest rates paid to the bank customers for depositing their assets in a bank. This difference in rates is called net interest income, which is one of the leading indicators of bank performance.
Commercial vs investment banks
Some banks specialise only in commercial or investment banking, while some banks combine both divisions in their operations. Investment banks specialise in managing assets of their clients, underwriting securities or supervising merger and acquisition transactions.
FAQs
The 10 largest banks in the U.S. are Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank, PNC Bank, Goldman Sachs Bank, Truist Bank, Capital One and TD Bank.
What are the top 10 commercial banks in the US? ›
The 10 largest banks in the U.S. are Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank, PNC Bank, Goldman Sachs Bank, Truist Bank, Capital One and TD Bank.
What is the largest bank in the US by revenue? ›
US-based JPMorgan Chase & Co is the leading bank in the US by revenues in 2021.
What are the top 5 banks revenue? ›
Top banks in the world in 2024
| Rank & Bank | Headquarters | Market Cap |
|---|
| #1 JPMorgan Chase | New York, USA | $551.03 B |
| #2 Bank of America | North Carolina, USA | $288.96 B |
| #3 Industrial and Commercial Bank of China Limited | Beijing, China | $249.28 B |
| #4 Wells Fargo | California, USA | $208.41 B |
7 more rowsMay 2, 2024
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.
What is a commercial bank's largest source of income? ›
Commercial banks make money by providing and earning interest from loans such as mortgages, auto loans, business loans, and personal loans. Customer deposits provide banks with the capital to make these loans.
Which is the No. 1 bank of the USA? ›
1. JPMorgan Chase & Co. Established in 1799, JPMorgan Chase & Co. is a global investment bank and financial services company that's based in New York. It offers a wide range of banking products including deposit accounts, credit cards, home loans, auto loans and business banking.
What are the biggest banks in USA 2022? ›
List of largest banks in the United States
| Rank | Bank name | CET1 capital requirement (2022) |
|---|
| 1 | JPMorgan Chase | 12.0 |
| 2 | Bank of America | 10.4 |
| 3 | Citigroup | 11.5 |
| 4 | Wells Fargo | 9.2 |
68 more rowsRanking the Big Four Banks
| Rank | Big Four Bank | Market capitalisation (billions) |
|---|
| 1 | CBA | $201.53 |
| 2 | NAB | $107.57 |
| 3 | Westpac | $90.80 |
| 4 | ANZ | $88.42 |
Apr 22, 2024
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.
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.
What's the most profitable bank? ›
Bank of America Corporation (NYSE:BAC), The Goldman Sachs Group, Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), and Wells Fargo & Company (NYSE:WFC) are some of the most profitable banks in America.
What are the top 10 banks in the US by assets? ›
The Bankrate promise
| RANK | BANK NAME | TOTAL ASSETS |
|---|
| 1 | JPMorgan Chase | $3.40 trillion |
| 2 | Bank of America | $2.54 trillion |
| 3 | Wells Fargo | $1.73 trillion |
| 4 | Citigroup | $1.68 trillion |
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The Most Popular Banks for Millionaires
- JP Morgan Private Bank. “J.P. Morgan Private Bank is known for its investment services, which makes them a great option for those with millionaire status,” Kullberg said. ...
- Bank of America Private Bank. ...
- Citi Private Bank. ...
- Chase Private Client.
The country's largest lender, SBI's net profit rose 24% y-o-y to Rs 20,698 crore during Q4, BoB's bottomline was up 2% to Rs 4,886 crore, while PNB's profit after tax rose the highest, at 160% to Rs 3,010 crore.
What is the best commercial bank? ›
- JPMorgan Chase. JPMorgan Chase is one of the United States' largest banks, with more than $2 trillion in assets. ...
- Bank of America. Many different factors make Bank of America a top bank. ...
- Wells Fargo & Company. ...
- Citigroup. ...
- U.S. Bancorp. ...
- Truist Financial Corporation. ...
- PNC Financial Services. ...
- T.D. Bank.
Tier two would be Goldman Sachs, Barclays Capital, Credit Suisse, Deutsche Bank, and Citigroup. Examples of tier three would be UBS, BNP Paribas, and SocGen. Being a bulge bracket bank does not necessarily mean it is rock solid.
What are the names of all commercial banks? ›
Mainline Commercial Banks
| Sr. No. | Bank Name | BHIM Aadhaar Pay - Acquirer |
|---|
| 1 | Axis Bank | Yes |
| 2 | Bandhan Bank Ltd | No |
| 3 | Bank Of Baroda | Yes |
| 4 | Bank of India | Yes |
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