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. Total assets of banks As the largest bank in the United States, JPMorgan Chase had total assets worth close to *** trillion U.S. dollars as of December 2024. 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 In the third quarter of 2024, all the "big four" banks in the United States maintained a common equity tier 1 (CET1) capital ratio significantly above the required minimum of *** percent. JPMorgan Chase reported a CET1 ratio of ***** percent. Meanwhile, the highest CET1 ratio among U.S. banks during this period was ***** percent, achieved by TD Bank, the tenth-largest bank in the country in 2024.

JPMorgan Chase dominated the U.S. banking landscape in 2023, reporting a net income of 47.5 billion U.S. dollars, almost 20 billion more than Bank of America, which ranked second. Wells Fargo ranked third, with a net income of roughly 22 billion U.S. dollars. These three banks were also the largest banks based on total assets. The substantial lead held by JPMorgan Chase underscores its position as the financial powerhouse among American banks, reflecting its robust performance across various banking sectors. Market capitalization and global standing JPMorgan Chase's financial prowess extends beyond net income. With a market capitalization of 491.76 billion U.S. dollars as of December 31, 2023, it stood as the most valuable bank in the United States. Its massive market capitalization also made it the largest bank globally, with Bank of America following from a distance. This impressive valuation, coupled with its substantial net income, cements JPMorgan Chase's status as a financial titan. Asset base of JPMorgan Chase JPMorgan Chase's leadership is also evident in its asset base. The bank held 8.56 percent of total banking assets in the United States as of December 2023, surpassing Bank of America and Wells Fargo. This substantial market share translated to over 3.9 trillion U.S. dollars in total assets.

Dataset Summary

This dataset contains information about the largest banks globally, including their rank, name, and total assets (in US$ billion as of 2023). The data was scraped from Wikipedia's List of Largest Banks. It can be used for financial analysis, market research, and educational purposes.

  Dataset Structure





  Columns

Rank: The rank of the bank based on total assets. Bank Name: The name of the bank. Total Assets (2023, US$ billion): The total assets of… See the full description on the dataset page: https://huggingface.co/datasets/iamramzan/Largest-Banks.

As of January 14, 2025, the market capitalization of ************** amounted to ****** billion U.S. dollars, making it the largest bank in the United States. By this measure, the second-largest bank was ***************, followed by ***********. ************** and *************** are also the two largest banks in the world by market capitalization. What is market capitalization? Market capitalization, or stock market value, is the total value of shares issued by a publicly traded company. It reflects the equity value of a company. Market cap is calculated by multiplying the market price of one share by the number of shares outstanding. For example, the market cap of Bank of America can be calculated by multiplying its share price by the number of shares it has issued. Other measures of company size Total assets also allow to determine the size of a bank. Instead of focusing on the stock price, this metric measures the size of the bank’s operations by counting the size of its balance sheet. Bank revenue and income are also common indicators used to compare banks and their performance.

JPMorgan Chase and Bank of America were by far the banks with the largest consumer loan portfolios in the United States in 2023. The figures for UBS and Santander only refer to their activities in the U.S. and not their international loan portfolio. Consumer loans are those provided to individuals, such as mortgages, car loans, student loans, or personal loans. JPMorgan Chase and Bank of America were also the largest U.S. banks in terms of total assets in 2023.

As of June 2024, JPMorgan Chase led the U.S. banking sector with approximately **** percent of total domestic deposits, closely followed by Bank of America at nearly ** percent. This distribution reflects the concentrated nature of the U.S. banking industry, where, despite thousands of commercial banks operating nationwide, the market is dominated by the top four institutions. The total value of deposits held at FDIC-insured commercial banks has decreased in recent years, amounting to ***** trillion U.S. dollars in 2023. The U.S. banking industry The banking industry in the United States accounts for tens of trillions of U.S. dollars in assets under management. While there are thousands of commercial banks in the country, the market is dominated by the largest four of these. This is particularly true when considering functions such as private and investment banking. Other measures This ranking presents the market share of domestic assets, but other measures give a slightly different picture. For example, looking at the value of total assets shows a higher market share in the hands of the top four firms. Apart from that, the revenue of leading commercial banks can also give a better idea of banks’ financial standing.

Most of the largest banks in the Asia-Pacific region in terms of assets in 2023 had their headquarters in China. The Industrial and Commercial Bank of China (ICBC) and Agricultural Bank of China Ltd. were at the top of the ranking with over five trillion U.S. dollars in assets. Japan's Mitsubishi UFJ Financial Group was also one of the five banks in the region with the highest assets volume.

The quarterly net incomes of the U.S.' five largest banks all declined substantially in 2022 when compared to 2021. U.S. Bancorp seemed to be the most able to maintain a steady growth rate, particularly between 2012 and 2019. Bank of America, on the other hand, had notable fluctuations over the years. Despite the differences, there seems to be one thing in common: After a sharp increase in four out of the five largest U.S. banks' quarterly income growth rate in the first quarter of 2021, there was a steady decline throughout the rest of 2021. As of 2022, none of the observed banks managed to produce a positive income growth rate. In 2023, however, JPMorgan Chase, Bank of America, and Wells Fargo all performed significantly better.

In 2024, the Industrial and Commercial Bank of China (ICBC) was the world's largest bank by total assets, reaching nearly 6.7 trillion U.S. dollars. The next three largest banks were also based in China: the Agricultural Bank of China, China Construction Bank, and Bank of China. The largest non-Chinese bank that year was JPMorgan Chase, with total assets exceeding four trillion U.S. dollars. Largest bank by market capitalization The value of total assets is a common measure of a bank's prosperity, and is defined as all assets owned by the bank. Another common indicator is the bank's market capitalization, which is used to determine the size of the bank. The market capitalization is the market price of one share multiplied by the number of shares outstanding. Ranked by market capitalization instead of total assets, JPMorgan Chase was the largest bank in the world in 2024, while ICBC ranked third. How do digital banks compare? Digital banks have surged in popularity over the past decade, attracting millions of customers with their convenient mobile interfaces, lower fees, and innovative financial products. Despite this impressive user growth, their financial footprint remains dwarfed by traditional banking institutions. A prime example is WeBank, which despite boasting approximately 400 million users - making it the world's largest digital bank by customer count - managed total assets of only about 74 billion U.S. dollars in 2023.

In 2023, the Federal Reserve System stood as the world's largest central bank, with total assets surpassing 7.7 trillion U.S. dollars. Comprising 12 Federal Reserve Banks, the system's largest component, the Federal Reserve Bank of New York, held a significantly higher asset value than its counterparts. The People's Bank of China secured the second position globally, managing assets valued at approximately 6.4 trillion U.S. dollars. Following closely, the Bank of Japan ranked third with assets totaling 5.32 trillion U.S. dollars on its balance sheet.

Snapshot img

US Retail Banking Market Size 2025-2029

The US retail banking market size is forecast to increase by USD 92.1 billion at a CAGR of 4.2% between 2024 and 2029.

The Retail Banking Market in the US is witnessing significant shifts driven by the ongoing Digital transformation. Banks are increasingly adopting cloud-based solutions to enhance customer experience, streamline operations, and reduce costs. This trend is reshaping the competitive landscape, as traditional players race to keep pace with fintech disruptors. However, this digital evolution brings new challenges. Cybersecurity threats are on the rise, with financial institutions becoming prime targets for hackers.
As the industry continues to digitize, ensuring robust security measures will be crucial to safeguard sensitive customer information and maintain trust. Balancing the benefits of digital innovation with the need for robust security will be a key strategic priority for retail banks in the US.

What will be the size of the US Retail Banking Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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In the dynamic retail banking market of the US, digital transformation is a key trend, with financial institutions optimizing their branch networks and embracing virtual assistants for enhanced customer experience. Customer segmentation, fueled by big data and data visualization, enables personalized financial services and product offerings. data security is paramount, with AI and machine learning employed for fraud prevention and regulatory compliance. Digital onboarding streamlines the loan approval process, while open banking and financial wellness initiatives promote financial inclusion. Credit scores and interest rates remain critical factors, with marketing automation and predictive analytics driving targeted customer engagement.
Fees and charges, a significant concern for customers, are being addressed through transparency and innovation. Cloud computing and machine learning are revolutionizing risk management and loan underwriting. Overall, the retail banking landscape is characterized by continuous innovation, driven by the integration of technology and customer-centric strategies.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Private sector banks
  Public sector banks
  Foreign banks
  Community development banks
  Non-banking financial companies


Service

  Saving and checking account
  Personal loan
  Mortgages
  Debit and credit cards
  Others


Channel

  Direct sales
  Distributor


Geography

  North America

    US

By Type Insights

The private sector banks segment is estimated to witness significant growth during the forecast period.

The US retail banking market is undergoing significant transformation, driven by technological innovations, changing consumer preferences, and regulatory shifts. Fintech companies are disrupting traditional banking models with user-friendly interfaces, digital marketing, and financial education tools. Retirement planning, Personal Loans, and savings accounts are increasingly being offered through digital channels, enhancing financial empowerment and convenience. Branch banking still holds importance for customer experience and face-to-face interactions, but online banking, mobile banking, and ATM access ensure round-the-clock access to financial services. Insurance products, checking accounts, and email marketing are essential tools for customer acquisition and retention. Blockchain technology, data analytics, and artificial intelligence are revolutionizing financial services, with applications in fraud detection, investment services, and peer-to-peer lending.

Regulatory compliance and customer satisfaction are critical factors in this evolving landscape, with regulatory changes enabling financial inclusion and fostering competition. Auto loans, mortgage loans, and credit cards remain popular offerings, with digital wallets and debit cards providing additional convenience. As consumer expectations continue to shift towards seamless, personalized experiences, banks must prioritize user experience (UX) and customer satisfaction. In the private sector, JPMorgan, Bank of America, Wells Fargo, and Citibank lead the market, offering comprehensive financial services to high-net-worth individuals. Regulatory changes and technological advancements have facilitated the entry of new players, making the market increasingly competitive. Overall, the US retail banking market is witnessing a dynamic and innovative period, with a focus on meeting the diverse needs of consum

In 2023, the Federal Reserve System maintained its position as the world's largest central bank, with its balance sheet assets growing to exceed *** trillion U.S. dollars. Similarly, the People's Bank of China strengthened its second-place standing, with assets surpassing *** trillion U.S. dollars. Notably, while these two giants saw asset increases, a contrasting trend emerged among other major central banks. Three of the **** largest central banks experienced asset decreases in 2023, indicating a divergence in monetary policies or economic conditions across major economies.

Total assets is one of the main measures of a bank's prosperity. It is defined as all assets owned by a bank. This includes, but is not limited to cash and balances, loans and advances to banks and customers, as well as debt securities. At the end of 2024, HSBC Holdings was the leading European bank in terms of total assets, with close to ***** trillion U.S. dollars. In 2024, HSBC was also among the largest banks globally in terms of market capitalization. Market capitalization Rankings of banks can be constructed using a multitude of indicators. Frequently employed to determine the size of a bank, is market capitalization, or the total dollar market value of a company's or bank's outstanding shares. Market capitalization is calculated from the current market price of one share and the number of shares outstanding for a company. In 2024, HSBC topped the ranking of European banks based on market capitalization, with a market cap of over *** billion U.S. dollars. Largest digital banks in Europe Digital banks have surged in popularity over the past decade, attracting millions of customers with their convenient mobile interfaces, lower fees, and innovative financial products. In Europe, the largest digital bank is Revolut, with total assets exceeding ** billion euros in 2023. The UK-based digital bank reached the milestone of ** million users at the end of 2024, making it by far the largest European digital bank in terms of customer base.

HSBC Holdings maintained its position as the largest bank in the United Kingdom throughout the entire period from 2012 to 2024, despite experiencing a modest recovery in recent years. In 2024, HSBC's total assets reached approximately **** trillion British pounds, representing a slight decrease from the previous year. HSBC also ranked among the world's ten largest banks in terms of total assets. Which is the largest bank in Europe? Based on the high value of its total assets, HSBC positioned for many years as the largest bank in Europe. In 2023, HSBC was followed by two French banks, BNP Paribas and Crédit Agricole, whose total assets amounted to **** and **** trillion U.S. dollars, respectively. HSBC also dominates in market capitalization Rankings of banks can be constructed using multiple indicators. Market capitalization - the total dollar market value of a bank's outstanding shares - is frequently used to determine a bank's size. This is calculated by multiplying the current market price of one share by the total number of outstanding shares. In 2024, HSBC was the leading bank in Europe based on market capitalization.

About this dataset

Context

The dataset presents the distribution of median household income among distinct age brackets of householders in Banks. Based on the latest 2019-2023 5-Year Estimates from the American Community Survey, it displays how income varies among householders of different ages in Banks. It showcases how household incomes typically rise as the head of the household gets older. The dataset can be utilized to gain insights into age-based household income trends and explore the variations in incomes across households.

Key observations: Insights from 2023

In terms of income distribution across age cohorts, in Banks, householders within the 25 to 44 years age group have the highest median household income at $94,167, followed by those in the 45 to 64 years age group with an income of $84,566. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $81,667. Notably, householders within the under 25 years age group, had the lowest median household income at $70,000.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2023-inflation-adjusted dollars.

Age groups classifications include:

• Under 25 years
• 25 to 44 years
• 45 to 64 years
• 65 years and over

Variables / Data Columns

• Age Of The Head Of Household: This column presents the age of the head of household
• Median Household Income: Median household income, in 2023 inflation-adjusted dollars for the specific age group

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Banks median household income by age. You can refer the same here

The South American challenger bank market, valued at $389.26 million in 2025, is experiencing robust growth, projected to expand significantly over the forecast period (2025-2033) at a Compound Annual Growth Rate (CAGR) of 12.57%. This surge is driven by several key factors. Increasing smartphone penetration and internet access across the region are fostering a digitally savvy population increasingly comfortable with online banking services. Furthermore, the region's underserved populations, lacking access to traditional banking services, present a vast untapped market for challenger banks offering convenient and accessible financial products. The increasing demand for personalized financial solutions and a preference for user-friendly mobile-first banking experiences are additional significant drivers. Competition among established players and the emergence of innovative fintech companies further fuels market dynamism. Growth is segmented across service types (payments, savings, current accounts, credit, loans) and end-users (business and personal segments). Brazil, as the largest economy in South America, is anticipated to hold a dominant market share, followed by other major economies like Argentina, Colombia, and Chile. However, growth potential exists across all countries within the region. Despite the considerable growth potential, the market faces certain challenges. Regulatory hurdles and the need for robust cybersecurity infrastructure remain key restraints. Furthermore, building trust and brand awareness within a market accustomed to traditional banking institutions requires significant investment in marketing and customer acquisition strategies. Nevertheless, the overall positive trajectory of the South American challenger banking sector indicates a promising future for innovative financial institutions catering to the evolving needs of the region's population. The ongoing evolution of financial technology and increasing financial inclusion initiatives will further fuel market growth, attracting significant investment and fostering competition in the years to come. South America Challenger Banks Market: A Comprehensive Report (2019-2033) This comprehensive report provides a detailed analysis of the dynamic South America challenger banks market, encompassing the period from 2019 to 2033. It offers invaluable insights into market size, growth drivers, challenges, and future trends, making it an essential resource for investors, industry professionals, and strategic decision-makers. The report utilizes 2025 as the base year and provides forecasts until 2033, incorporating data from the historical period (2019-2024). This report covers key players such as NU Bank, Uala, Albo, Nequi, DaviPlata, Banco Inter, Neon, C6 bank, and Burbank (list not exhaustive). Recent developments include: In November 2023, N26, a German challenger bank, announced its exit from Brazil, marking the end of its two-year stint in the South American market. This move aligns with N26's strategic shift in geographical focus. The bank made its foray into Brazil in 2021, having obtained a Sociedade de Crédito Direto (SCD) license from the Banco Central do Brasil., In October 2023, Nubank had introduced over 40 new products and features, including innovative credit options like FGTS anniversary withdrawal anticipation and NuConsignado for INSS retirees and pensioners. With operations in Brazil, Colombia, and Mexico, Nubank has exceeded 90 million customers in Latin America, solidifying its position as one of the world's fastest-growing financial services firms.. Notable trends are: Rising Fintech Investments in South America Fueling the Growth.

About this dataset

Context

The dataset presents the mean household income for each of the five quintiles in Banks, OR, as reported by the U.S. Census Bureau. The dataset highlights the variation in mean household income across quintiles, offering valuable insights into income distribution and inequality.

Key observations

• Income disparities: The mean income of the lowest quintile (20% of households with the lowest income) is 32,963, while the mean income for the highest quintile (20% of households with the highest income) is 219,163. This indicates that the top earners earn 7 times compared to the lowest earners.
• *Top 5%: * The mean household income for the wealthiest population (top 5%) is 325,577, which is 148.55% higher compared to the highest quintile, and 987.70% higher compared to the lowest quintile.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates.

Income Levels:

• Lowest Quintile
• Second Quintile
• Third Quintile
• Fourth Quintile
• Highest Quintile
• Top 5 Percent

Variables / Data Columns

• Income Level: This column showcases the income levels (As mentioned above).
• Mean Household Income: Mean household income, in 2023 inflation-adjusted dollars for the specific income level.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Banks median household income. You can refer the same here

United States - Large Time Deposits, Small Domestically Chartered Commercial Banks was -10.90000 % Chg. at Annual Rate in January of 2025, according to the United States Federal Reserve. Historically, United States - Large Time Deposits, Small Domestically Chartered Commercial Banks reached a record high of 70.70000 in January of 2023 and a record low of -20.30000 in July of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Large Time Deposits, Small Domestically Chartered Commercial Banks - last updated from the United States Federal Reserve on July of 2025.

In 2023, ** of the ** largest U.S. banks had a Tier 1 leverage ratio exceeding **** percent. Capital One led with the highest ratio at **** percent, followed by Citizens Bank and First Republic, both at *** percent. The only exceptions among the largest banks were TD Bank and BMO Harris Bank, which reported Tier 1 leverage ratios below **** percent.

The return on equity (ROE) of European banking sectors showed significant disparities in the last quarter of 2024, with Romania leading at **** percent and Liechtenstein trailing at *** percent. This wide range reflects the diverse financial landscapes across the continent, influenced by factors such as market conditions, regulatory environments, and economic stability. While ROE is a crucial indicator of banking efficiency, it's important to consider it alongside other metrics for a comprehensive view of the industry's health. Digital transformation reshaping European banking The banking sector in Europe is undergoing a digital revolution, with online banking penetration reaching impressive levels. In 2024, Denmark lead with a ***** percent penetration rate, closely followed by Norway at **** percent. This shift towards digital banking is not only changing how traditional banks operate but also paving the way for the rise of digital-only banks. Neobanks like Revolut have seen rapid growth, with the UK-based fintech reaching ** million users by November 2024, highlighting the increasing consumer preference for digital financial services. Consolidation and asset growth in European banking Despite the high number of banks operating in Europe, with ***** institutions in the EU as of December 2024, the industry is dominated by a few large players. In 2023, HSBC Holdings lead European banks with total assets exceeding *** trillion U.S. dollars in 2023, followed closely by BNP Paribas SA with over *** trillion U.S. dollars. This concentration of assets among top banks, coupled with the ongoing digital transformation, suggests a trend towards consolidation in the European banking sector, potentially impacting future ROE figures across the continent.