Leading commercial banks in the U.S. 2023, by revenue

In 2023, JPMorgan Chase was the commercial bank with the highest revenue in the United States, with a total revenue of over 158 billion U.S. dollars. Bank of America and Wells Fargo followed, with 95.6 and 82.6 billion U.S. dollars, respectively. These three banks were also the largest banks in terms of total assets in the United States that year.

Commercial banking

A commercial bank is a bank that offers financial services to private customers and companies, such as accepting deposits, checking services or loans. Commercial banks earn money through interest rates on the loans that they offer. Such rates are significantly higher than the interest rates paid to the bank customers for depositing their assets in a bank. This difference in rates is called net interest income, which is one of the leading indicators of bank performance.

Commercial vs investment banks

Some banks specialize only in commercial or investment banking, while some banks combine both divisions in their operations. Investment banks specialize in managing assets of their clients, underwriting securities or supervising merger and acquisition transactions.