Fintech
Top 10 US banks by assets: JPMorgan, Bank of America Lead
While the US banking sector experienced a challenging 2023, due to volatile economic headwinds and high interest rates, the market’s largest institutions still sit at the pinnacle of the global banking sector.
In this Top 10, we examine the largest U.S. banks in terms of total assets, as of the first quarter of 2024.
10. TD Bank
Total assets: 366 billion dollars
Headquartered on the East Coast and Northeast, TD Bank is now one of the largest U.S. banks with $366 billion in assets. A branch of Canada’s Toronto-Dominion Bank, TD Bank’s roots date back 150 years and today serves 10 million local customers. With more than 1,200 branches along the East Coast, TD remains committed to providing in-person banking services alongside online banking and other digital offerings.
9. Capital One
Total assets: 468 billion dollars
Founded by Richard Fairbank and Nigel Morris – the latter now of QED Investors – in 1988, Capital One is a well-known institution specializing in credit cards. Primarily online-based, Capital One’s hybrid approach with limited in-person presence has seen it attract a modern, digitally enabled customer base since its founding. The bank recently announced this plans to acquire Discover Financial in a landmark $35.3 billion deal that would be one of the largest merger and acquisition deals in recent years and would bring together America’s two largest credit card companies.