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Today we look at the Top 5 US Banks, which are the largest commercial banks in the United States, based on total assets, revenue and market capitalisation.
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In the US, the Finance & Insurance industry makes up about 8% of $21 trillion dollars of GDP, which comes down to about $1.7 trillion dollars.
This means that if the US Finance & Insurance Industry would be a country it would rank among the top 10 countries world wide and the top 5 banks in this industry control over 50% of all banking assets.
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#5 U.S. Bankcorp
First up and number 5 on the list is the Minneapolis based, US Bankcorp, which is the parent and holding company of US Bank.
The bank’s earliest history dates back to 1855, when it was founded as a farmers and millers bank.
Currently the bank has over 2,400 branches spread throughout the US, serving an extensive network of customers
Last year US Bankcorp did about $23.3 billion dollars in revenue of which it netted about $5 billion and the Bank’s total assets come down to about $540 billion dollars.
#4 Citigroup Inc.
At number 4 on the list we find Citigroup
The bank has a total of $1.66 trillion dollars in total assets.
The bank was founded in 1811, as the City Bank of New York, where its main purpose was to facilitate banking in New York, so that the city could compete with its main competitors, Philadelphia, Boston and Baltimore.
Today, Citigroup has around 700 US branches and around 1,800 overseas, helping the bank generate well over $16.5 billion dollars in revenue, of which it gets to keep around $4.3 billion dollars, in net profit.
#3 Wells Fargo & Co.
The number 3 spot on the list, is held by Wells Fargo, which is the biggest bank in the US in terms of bank branches.
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New York 2021/2022 |