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 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
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 rowsUS-based JPMorgan Chase & Co is the leading bank in the US by revenues in 2021.
Who is the market leader in commercial banking? ›
One of the leading commercial banks in the United States is JPMorgan Chase, which earned more than 128 billion U.S. dollars in revenue in 2022. JPMorgan Chase was also the leading issuer of commercial bank cards in 2021, taking the lead over Bank of America.
What is the 5th largest commercial bank in the US? ›
The top five banks in America are JPMorgan Chase, Bank of America, Citibank, Wells Fargo and U.S. Bank. These are the largest U.S. banks by assets and among the largest in the world.
What is the most profitable bank in the USA? ›
With $3.4 trillion in consolidated assets and a net income of $49.6 billion, Chase is the richest bank in the US, well ahead of its closest competitors, Bank of America and Wells Fargo.
What are the top 3 banks in America? ›
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 |
11 more rowsApr 2, 2024
Ranking 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
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 bank do billionaires use? ›
JPMorgan Chase: Based in New York City, and, with over$2.7 trillion in assets under management, JPMorgan Chase is one of the best private banks with a lot of different services and investment options available. JPMorgan was one of the banks that started the trend of tailoring their services toward the wealthy.
Which bank is safest in the USA? ›
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 banks have the largest income? ›
Bank - Private
| Company Name | Last Price | Net Profit (Rs. cr) |
|---|
| HDFC Bank | 1,465.25 | 60,812.27 |
| ICICI Bank | 1,132.40 | 40,888.27 |
| Kotak Mahindra | 1,695.50 | 13,781.58 |
| Axis Bank | 1,142.80 | 24,861.43 |
24 more rowsThe major source of revenue for most banks is from deposits and loans. As a customer deposits money, the amount of money minus the required reserve is used to lend to others, which will be repaid with interest.
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.
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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