The banking industry is one of the most important sectors in the United States. It is the backbone of America’s economy and its citizens’ financial well-being. With so many banks in the USA, it can be difficult to determine which ones are the largest. To help you out, the World’s #1 Source of Research-Based Content, The Daily Top 10 has compiled a list of the Top 10 Best & Largest Banks in the USA by Assets Held.
Banks are responsible for handling deposits and providing loans to individuals and businesses, and they also offer a variety of other services. These banks are considered to be the most powerful and influential in the country, and they offer a range of services such as lending, investing, and wealth management.
So, if you’re in the market for a new bank, take a look at our list of the Top 10 Best & Largest Banks in the USA by Assets Held.
What is the Best and Largest Bank in the USA by Assets Held?
Putting your money in one of the largest banks generally means you’ll have more access to in-person services at branches, a large ATM network, and a wide array of products and services. It can be convenient if you’re looking to do all of your banking in one place. To find the largest banks in the USA, The Daily Top 10 Team looked at the domestic asset sizes of banks in the USA.
Before we step into the Best & Largest Bank in the USA by Assets Held, let’s explore the rest of our list now!
TOP 10: Goldman Sachs ($438 billion)
Goldman Sachs is a global investment bank, asset manager, and securities firm headquartered in New York. It provides a broad range of financial services to an extensive and diversified client base that includes corporations, financial institutions, governments, and individuals.
Goldman Sachs, while known as an investment bank, also offers consumer banking products and wealth management through Marcus (the online banking division of Goldman Sachs). According to Nerd Wallet, Goldman Sachs’ worth is $438 billion.
TOP 9: Capital One Financial ($444.2 billion)
The Capital One Financial Corporation operates primarily in the United States and offers credit cards, auto loans, banking, and savings accounts. It is headquartered in McLean, Virginia. Bank clients have access to Capital One Cafes, and coffee shops with free Wi-Fi where visitors can open accounts and attend financial workshops, in addition to branches on the East Coast and Texas and Louisiana.
It is among the biggest banks in the country and has earned a reputation for being a technology-focused institution. According to Investor, it has total assets of $444.2 billion.
TOP 8: Truist Bank ($548 billion)
Truist Financial Corporation is an American bank holding company based in Charlotte, North Carolina. As a result of the merger of equals between BB&T and SunTrust, Truist Bank has been formed.
Truist offers financial services to about 10 million households and has about 3,000 ATMs. Based on Truist, it ranks among the top 10 U.S. commercial banks with $548 billion in assets. While you are in search of the Best & Largest Banks in the USA, don’t forget to check out our list of the Top 10 Metaverse Companies to Watch Out on LinkedIn and broaden your knowledge.
TOP 7: PNC Bank ($534.35 billion)
PNC Bank is a subsidiary of The PNC Financial Services Group, Inc. In addition to its 2,629 branches, it operates 9,523 ATMs in 27 states and the District of Columbia. Based on the information found on Wikipedia, one of the largest banks in the United States by assets, PNC Bank is also one of the largest by branches, deposits, and ATMs.
It is well known as one of the top banks in the US, offering customers specialized benefits and services while developing new products. In addition, PNC Bank acquired BBVA USA in 2021. Approximately $534.35 billion worth of assets are held by the bank.
TOP 6: U.S. Bancorp ($601 billion)
U.S. Bancorp is an American bank holding company headquartered in Minneapolis and it is the parent company of the U.S. Bank National Association. Founded in 1863 as the First National Bank of Cincinnati, it has grown into the fifth-largest commercial bank in the country by assets.
A variety of financial products are offered by the company, including banking, investment, mortgage, trust, and payment services. According to Wikipedia, U.S. Bancorp employed approximately 70,000 people and had assets worth $601 billion.
TOP 5: Citibank ($1.65 trillion)
Citigroup is a global financial services company. Its retail banking division, Citibank, is headquartered in New York City with 700 branches in the U.S. and more than 1,800 branches outside the country. According to Insider Intelligence, it has total assets of $1.65 trillion.
U.S. customers can also access more than 65,000 surcharge-free ATMs. Customers who have $200,000 in deposit, retirement, and investment accounts will have access to their Citigold package. Michael Naggar, the chief digital officer at U.S. retail bank Citibank, says they are looking forward to a digital transformation, as mentioned in Insider Intelligence.
TOP 4: Wells Fargo ($1.69 trillion)
Founded in 1852, Wells Fargo is based in San Francisco, and it has $1.69 trillion in domestic assets as of September 2022, according to Nerd Wallet. As the bank with the most branches, Wells Fargo is tied with Chase. By offering mobile financial services, it follows the lead of its top competitors. Greenhouse, a Wells Fargo app, helps customers simplify their bills and track their spending, while Pay with Wells Fargo offers users access to their most commonly used payment features.
TOP 3: TD Bank ($1.92 trillion)
Toronto-Dominion Bank is the U.S. commercial banking arm of Canada’s TD Bank Group headquartered in Cherry Hill, New Jersey. A variety of products are available to small businesses and commercial clients, including mortgages, deposit accounts, credit cards, and products for commercial use.
Compared to other large banks, TD Bank is less widely distributed, as its ATMs and branches are only available on the East Coast. Toronto Dominion Bank’s (TD Bank) total assets increased steadily from 2013 to 2022. The total assets reached approximately 1.92 trillion Canadian dollars in 2022, which was the highest during the entire period according to Statista.
TOP 2: Bank of America ($3.085 trillion)
Bank of America is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina. It manages approximately 10.73% of all U.S. bank deposits and competes directly with JPMorgan Chase, Citigroup, and Wells Fargo.
Bank of America’s primary financial services focuses on commercial banking, asset management, and investment banking. Bank of America serves approximately 66 million consumers and small business customers worldwide. According to Wikipedia, it has total assets of $3.085 trillion.
TOP 1: JPMorgan Chase & Co. ($3.774 trillion)
An American multinational investment bank and financial services holding company, JPMorgan Chase & Co. is headquartered in New York City and incorporated in Delaware. In contrast to its competitors, Chase is expanding its branch network in key markets. The bank currently has more than 5,000 branches and 16,000 ATMs.
It’s connected with Wells Fargo for having the biggest branch network with locations in most states. It is estimated that almost half of the country’s households use Chase services. According to Wikipedia, JPMorgan Chase is also ranked 24th on the Fortune 500 list of the largest United States corporations by revenue with a total asset base of US$3.774 trillion. So, JPMorgan Chase & Co. is the Best and Largest Bank in the USA by Assets Held.
What are the Best and Largest Banks in the USA by Assets Held?
It is not surprising that there are several banks that are regarded as the top contenders in terms of assets held and total size given that the American financial sector continues to be among the most powerful in the world. These banks are in charge of managing trillions of dollars worth of assets and are the most strong and most important financial entities in the nation.
Here is the list of the Top 10 Best and Largest Banks in the USA by Assets Held:
- JPMorgan Chase & Co.
- Bank of America
- TD Bank
- Wells Fargo
- Citibank
- U.S. Bancorp
- PNC Bank
- Truist Bank
- Capital One Financial
- Goldman Sachs
Banks are financial institutions providing a breadth of products and services, including managing deposits, lending, wealth management, currency exchange, and investment banking. If you have the drive and the passion to earn money fast to deposit on these banks, check out The Daily Top 10 for the list of Top 10 Best & Most Popular Ways to Make Money Faster. Let us know the additional topics you are interested in the comment section and we will get them to you. For a daily dose of information, subscribe to our Newsletter. Enjoy!
Author: Fahad M.
Fahad M. is approachable and energetic about resolving SEO and content-related issues. He is customer-focused and always has the big picture in mind. He is also extremely creative and eager to assist wherever and whenever possible.
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