Largest banks in the U.S. 2023, by market cap
As of December 31, 2023, the market capitalization of JPMorgan Chase amounted to 491.76 billion U.S. dollars, making it the largest bank in the United States. By this measure, the second-largest bank was Bank of America, followed by Wells Fargo. JPMorgan Chase and Bank of America were also the two largest banks in the world by market capitalization.
What is market capitalization?
Market capitalization, or stock market value, is the total value of shares issued by a publicly traded company. It reflects the equity value of a company. Market cap is calculated by multiplying the market price of one share by the number of shares outstanding. For example, the market cap of Bank of America can be calculated by multiplying its share price by the number of shares it has issued.
Other measures of company size
Total assets also allow to determine the size of a bank. Instead of focusing on the stock price, this metric measures the size of the bank’s operations by counting the size of its balance sheet. Bank revenue and income are also common indicators used to compare banks and their performance.
