Banks | Largest Banks in USA
We have seen that banks have a vital role in the economy of a nation. It generates tax and the money is revolved in a circle. The banks have a great role in staunching the position of a government among other nations thus stabilizing the economy. The wealth generated by the banks whetstone the national purchasing power that leads to a stable nation.
The top 20 banks in the US employ more than 1.2 million people – JP Morgan Chase & Co alone employs more than 228,000 people.
Top Largest Banks In The US
JP Morgan Chase & Co. – $2,534 Billion
JP Morgan Chase & Co came into existence as a result of a merger of many banking companies in 1996. It has its headquarters in New York City thus being the largest bank in the US. The bank is a multinational and financial service provider. With a huge asset base of 2.53 trillion, JP Morgan Chase & Co ranks within the top ten banks in the world for investment banks. The bank is operative in over 100 countries employing more than 228,000 people.
It has a vision to provide financial services and financial support to millions of customers , emerging enterprises and many of the world’s notable enterprises , institutions and governments.
Bank of America (B o A) – $2,281 Billion
17, October, 1904 is the day when The Bank of America was formed and was initially known as the Bank of Italy. If we describe about the bank, it is an American multinational banking and financial service company with its headquarters in Charlotte, North Carolina. It stands second after JP Morgan Chase & Co having 5,100 banking outlets, 16,300 ATM’s and more than 150,939 employees.
Wells Fargo – $1,951 Billion
Here comes the third largest bank in the US according to the assets-Wells Fargo having a total asset of $1,951 Billion. The bank came into existence on March 18, 1852 and was founded by Henry Wells and William Fargo. That is why the bank is named after them. The headquarters of the bank are in San Francisco California. If we rank according to the market capitalization, then, it stands as the world’s largest bank but according to the asset, it stands at third largest bank in the US.
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