The value of assets held at banks in the United States increased significantly between 2002 and 2023, despite a slight drop in 2022. The assets of U.S. banks amounted to approximately ***** trillion U.S. dollars in 2023, up from ***** trillion U.S. dollars a year earlier.

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 June 2025. 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 early 2025, 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 12th largest bank in the country in the first half of 2025.

The total assets of U.S.-chartered commercial banks grew significantly between 1990 and 2024. In the observed period, only between 2009 and 2010 did the total assets of commercial banks decrease. As of 2024, the total assets of U.S.-chartered commercial banks amounted to approximately ***** trillion U.S. dollars, up from around **** trillion U.S. dollars in 2023.

Graph and download economic data for Total Assets, All Commercial Banks (TLAACBW027SBOG) from 1973-01-03 to 2025-08-27 about assets, banks, depository institutions, and USA.

Graph and download economic data for Other Deposits, All Commercial Banks (ODSACBW027SBOG) from 2009-07-01 to 2025-08-20 about deposits, banks, depository institutions, and USA.

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 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.

Deposit money banks'' assets to GDP (%) in United States was reported at 74.17 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. United States - Deposit money banks' assets to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

Graph and download economic data for Use of Financial Services, Liabilities: Outstanding Deposits by Households at Commercial Banks for United States (USAFCLODCHXDC) from 2004 to 2023 about liabilities, deposits, financial, households, banks, services, depository institutions, and USA.

JPMorgan Chase dominated the U.S. banking landscape in 2023, reporting a net income of **** billion U.S. dollars, almost ** billion more than Bank of America, which ranked second. Wells Fargo ranked third, with a net income of roughly ** 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 ****** 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 **** 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 *** trillion U.S. dollars in total assets.

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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 transition is reshaping the competitive landscape, with traditional players competing against fintechs and digital-only banks. However, this digital evolution brings new challenges. Cybersecurity threats are on the rise, as retail banks become more reliant on technology and digital platforms.
Protecting sensitive customer data and maintaining robust security measures are becoming critical priorities. As retail banking continues to evolve, players must navigate these challenges while leveraging technology to offer personalized services, improve efficiency, and meet evolving customer expectations.

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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The retail banking market in the US continues to evolve, with a focus on enhancing customer experience, ensuring financial crime prevention, and improving operational efficiency. Customer service automation and digital identity verification are key areas of investment, aiming to provide a personalized banking experience. Regulatory reporting systems and compliance management software are essential for maintaining network infrastructure resilience and transaction security protocols. Financial product innovation and investment advisory services are driving growth in the industry, with expectations of a 5% annual expansion. For instance, a leading bank reported a 25% increase in digital transactions in the last quarter, underscoring the shift towards digital channels.
Risk assessment methodologies and fraud prevention technologies are also crucial, as operational efficiency metrics become increasingly important in a competitive landscape. Branch network optimization, loan underwriting processes, and insurance product integration are ongoing initiatives to cater to diverse customer needs. Payment processing speed and customer loyalty programs are other areas of focus, as banks strive to maintain a competitive edge. Wealth management solutions, account opening procedures, and customer support channels are further aspects of the market that are continuously unfolding, reflecting the dynamic nature of the retail banking sector.

How is this US Retail Banking 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


Consumer Segment

  Individual Consumers
  Small Businesses
  Corporation


Delivery Mode

  Branch Banking
  Online Banking
  Mobile Banking


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 experiencing significant evolution, with private sector banks leading the charge. Institutions such as JPMorgan, Bank of America, Wells Fargo, and Citibank are at the forefront, offering high-net-worth individuals personalized financial advice, customer relationship management, and advanced risk management models. Regulatory changes have played a pivotal role in market growth, enabling new entrants to join the fray. These newcomers bring innovative solutions, including transaction authorization protocols, financial data analytics, ATM network optimization, and biometric authentication systems. Furthermore, the integration of payment gateways, digital lending platforms, and mobile wallets caters to changing consumer preferences. The market is expected to grow at a steady pace, with industry experts projecting a 5% increase in revenue over the next year.

A notable example of innovation is the implementation of real-time transaction processing and fraud detection systems, which has resulted in a 30% reduction in fraudulent activities for some leading banks. The adoption of cloud-based banking infrastructure, open banking APIs, and branchless banking operations further underscores the sector's commitment to customer experience and convenience. Regulatory compliance frameworks, including KYC/AM

Graph and download economic data for Banks in U.S.-Affiliated Areas; Checkable and Time and Savings Deposits; Liability, Level (DISCONTINUED) (BOGZ1FL743139005A) from 1945 to 2023 about checkable, savings, liabilities, deposits, banks, depository institutions, and USA.

Graph and download economic data for Use of Financial Services: Key Indicators, Outstanding Deposits of Households with Commercial Banks for the United States (USAFCLODCHGGDPPT) from 2004 to 2023 about deposits, financial, households, services, banks, depository institutions, and USA.

View the total value of the assets of all Federal Reserve Banks as reported in the weekly balance sheet.

Commercial Banks generate most of their revenue through loans to customers and businesses. Loans are set at interest rates that are influenced by different factors, including the federal funds rate (FFR), the prime rate, debtors' creditworthiness and overall macroeconomic performance. The Commercial Banking industry’s performance was mixed during the current period, which included both the postpandemic recovery and a strong economy amid high interest rates. At the onset of the period, volatile economic conditions created domestic and global dollar funding pressures, creating havoc in the Treasuries market and causing the Fed to act as a dealer of last resort by flooding the international and domestic dollar funding markets with liquidity. The Fed set interest rates to near zero in March 2020 to stimulate the economy; despite this, weak economic performance in 2020 limited demand for bank lending and investment, causing industry revenue to decline. In 2022, the Fed began increasing interest rates to curb historically high inflation. Commercial Banks benefited from the higher rates, which resulted in greater interest income for the industry and contributed to double-digit revenue growth in 2022 and 2023. However, as inflation receded, the Fed cut interest rates in 2024 and is anticipated to cut rates further in 2025 to provide a boost to the economy. Overall, industry revenue has been growing at a CAGR of 7.2% to $1,418.0 billion over the past five years, including an expected decrease of 3.7% in 2025 alone. During the outlook period, industry revenue is forecast to shrink at a CAGR of 1.3% to $1,328.5 billion through the end of 2030. Further interest rate cuts would lower interest income for the industry, hampering profit. In a lower interest rate environment, commercial banks would likely encounter rising loan demand but experience reduced investment income from fixed-income securities. In addition, the acquisition of financial technology start-ups to compete will increase as the industry continues to evolve.

Graph and download economic data for Use of Financial Services, Assets: Outstanding Loans at Commercial Banks for United States (USAFCSODCXDC) from 2004 to 2023 about financial, loans, assets, banks, services, depository institutions, and USA.

The value of deposits of FDIC-insured commercial banks in the United States increased sharply between 2000 and 2023, despite a downward trend in recent years. In 2023, the value of deposits of FDIC-insured commercial banks in the U.S. amounted to approximately ***** trillion US dollars.

Key information about United States Total Deposits

• United States Total Deposits was reported at 17,922.903 USD bn in Feb 2025
• This records a decrease from the previous number of 17,948.966 USD bn for Jan 2025
• US Total Deposits data is updated monthly, averaging 3,322.933 USD bn from Jan 1973 to Feb 2025, with 626 observations
• The data reached an all-time high of 18,173.582 USD bn in Mar 2022 and a record low of 596.889 USD bn in Jan 1973
• US Total Deposits data remains active status in CEIC and is reported by CEIC Data
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Total Deposits: USD: Monthly

Cross-border deposits with BIS rep. banks in United States was reported at 4075426970000 in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. United States - Cross-border deposits with BIS rep. banks - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for the United States was 60.89905 % of GDP in January of 2023, according to the United States Federal Reserve. Historically, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for the United States reached a record high of 74.50714 in January of 2021 and a record low of 44.37885 in January of 2004. Trading Economics provides the current actual value, an historical data chart and related indicators for Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for the United States - last updated from the United States Federal Reserve on September of 2025.