Top 5 Banks in the United States - The Most Trusted

Top 5 banks in the United States

Today we take a look at the top 5 US banks, based on their total assets,  revenue, profits, and market share. Now 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. 

Top 5 banks in the United States of 2021-2022

This means that if the US Finance & Insurance  Industry would be country it would rank among the top 10 countries worldwide and the Top 5 banks in this industry control over 50% of all banking assets. 

US 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.

Citigroup Bank

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. 

Wells Fargo Bank

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.

The bank has well over 5,000 branches, spread out across the US, generating around $17.9 billion dollars in revenue. This is slightly higher than that of Citigroup,  however, Wells Fargo only makes $3.0 billion in net profits,  which is 30% lower than that of Citigroup.

Wells Fargo is based in San Fransisco, California where it was founded in  1852 by Henry Wells and William Fargo.

Now, the bank’s main purpose at the time was to serve the booming gold industry by buying & selling gold and issuing banknotes. Today, the bank has accumulated, well over $1.77 trillion dollars worth of total assets and is primarily focused on private individuals and small businesses. 

Bank of America

The second-largest bank in the United States is Bank of America. This bank has well over $2.26 trillion dollars in total assets and is based in Charlotte, North Carolina. The funny thing about Bank of America is that it started as Bank of Italy in 1904 when it was founded by Amadeo Giannini in San Francisco, where the purpose of the bank was to help Italian Americans with their financial needs. In 1930 the bank rebranded, as Bank of America. Currently, the bank is the biggest holder of deposit accounts in the United States and serves well over 66 million consumer and small business clients.

 The bank is truly well represented throughout the States, with over 4,300  retail financial centers and over 2,400 business financial centers.

When looking at the revenue, Bank of America is a financial juggernaut,  because last year, the bank generated, well over $85 billion dollars in revenue and made a net profit of $17.9 billion. This means that Bank of America made more profit than Wells Fargo, Citigroup & US Bankcorp combined. 

JPMorgan Chase Bank

And the number 1 bank in the United States is JPMorgan Chase. The Bank has well over $3 trillion dollars in assets and to put that in perspective,  the total GDP of the United Kingdom is only $2.7 trillion, that of Canada is $1.6 trillion. So the CEO of JPMorgan Chase manages more capital than these countries produce in an entire year. The Revenue of the bank, came in at about $120 billion dollars last year,  providing JPMorgan Chase with a profit of around $25 billion.

What are the 5 top banks? Which bank is safest in USA? What's the safest bank to put your money in? What is the most trusted bank? biggest bank in united states, the biggest bank in the world. These were the Top 5 banks in the United States and 5 Best Banks for Students of 2021-2022. I hope this review helps you to find the best bank in the US.

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