Top 10 US Banks by Assets: JPMorgan, Bank of America Lead
While US banking saw a challenging 2023, faced with volatile economic headwinds and high interest rates – the market’s largest institutions still sit at the pinnace of the global banking industry.
In this Top 10, we look at the leading US banks by total assets, as of Q1 2024.
10. TD Bank
Total assets: US$366bn
Based across the East and Northeast Coast, TD Bank is one of the largest US banks today with US$366bn in assets. A subsidiary of Canada’s Toronto-Dominion Bank, TD Bank’s roots stretch back 150 years, and, today, it serves 10 million local customers. With over 1,200 branches across the East Coast, TD remains committed to providing in-person banking services alongside online banking and other digital offerings.
9. Capital One
Total assets: US$468bn
Founded by Richard Fairbank and Nigel Morris – the latter now of QED Investors – in 1988, Capital One is a well-known institution specialising in credit cards. Primarily based online, Capital One’s hybrid approach with limited in-person presence has seen it attract a modern, digital-enabled customer base since its founding. The bank has recently announced plans to acquire Discover Financial in a landmark US$35.3bn deal, which would be one of the largest M&A deals in recent years and bring together America’s two leading credit card companies.
