The Top 10 Banks in America

The Top 10 Banks in AmericaThe most used currency unit in the world is the US dollar. It is an international currency. The largest enterprises, the richest people are concentrated in America, and it is quite logical that the most popular banks of the whole world are located there.

The first financial institutions in America began to appear in the 18th century. During this time, the banking system has undergone significant changes, and the leading positions in the banking sector have changed. Here is a list of the most popular banks in the United States for 2020.

Bank of America

In terms of assets, the bank occupies a leading position in America and 23rd in the world. The first branch appeared in 1904 in San Francisco. The financial institution exists in every state of America and in over 30 countries around the world, has 4,700 branches in different countries, where over 200,000 employees work. Bank of America has 16,000 ATMs at its disposal.

The bank’s activities are carried out due to the division of the institution into 5 departments, each of which provides certain services to certain customers: consumer banking, where the following services are provided:

  • individuals and first-time entrepreneurs;
  • global asset management;
  • global banking serving large organizations and high-profile clients;
  • global markets;
  • mortgage credit lending.

JPMorgan Chase

The banking institution appeared through the merger of several financial institutions and is now one of the four largest banks in the United States, along with Bank of America. According to Forbes, for 2018 the bank was included in the list of the largest public companies.

The main revenue comes from the United States.

The main activities of the popular bank are:

  • investments;
  • providing financial services to individuals and non-profit organizations;
  • management of securities;
  • transactions;
  • etc.

Citigroup

Citigroup was founded in 1812 and is one of the four largest and most popular banks in America. The company has been known under its current name since 1998. The total assets managed by the company amount to $ 1.9 trillion. The organization ranks 62nd on the list of the world’s most valuable brands.

The bank has over 200 million satisfied customers around the world, 90% of whom are ready to return, and 2000 departments. The main divisions of the institution are:

  • global consumer banking, where credit cards are handled;
  • an institutional client group that serves government and major institutions;
  • corporate center.

Wachovia

Founded in 1879, Wachovia is the 5th largest banking institution in the United States. The main activity of the enterprise includes:

  • investment services;
  • service of legal entities and individuals;
  • registration of loans;
  • issuing credit cards;
  • consultant services;
  • opening and keeping a personal account;
  • insurance;
  • registration of transactions online.

Today Wachovia has 40 offices located around the world. In America, the bank operates in 21 states and has branches in 6 countries in Latin America.

Wells Fargo

Wells Fargo ranks first in the world in terms of market capitalization. It is one of the four largest US banks. The company, founded in 1852, has grown over time to an unimaginable size and today is ready to offer a large number of services to different customers at the most favorable terms compared to competitors.

The main activities of this banking institution include:

  • registration of loans;
  • investments;
  • work with securities;
  • issuing and servicing credit cards;
  • keeping of current accounts;
  • leasing;
  • insurance;
  • trust services.

The company owns 9,000 departments and 13,000 ATMs. Wells Fargo has 40 million loyal customers.

U.S. Bancorp

U.S. Bancorp was founded in 1990. The company started out as a lending institution and is now one of the most popular financial institutions in the United States. The bank ranks 5th in the list of large US commercial organizations. The bank has branches in 25 states of America, and the company has over 2500 departments and 4500 ATMs.

The services of the company include:

  • registration of loans;
  • issuing credit cards;
  • insurance;
  • leasing;
  • investment services;
  • work with securities;
  • keeping and opening a personal account.

The financial institution provides its services to a wide variety of clients, from individuals to large enterprises.

SunTrust Banks

SunTrust Banks was founded in 1891 and is now the largest subsidiary. According to the 2016 census, the bank has at its disposal 2,100 ATMs and 1,500 departments. The institution employs 24,000 employees. The company is expanding every year, so new employees are required for the offices.

The bank’s activities include:

  • registration of loans;
  • insurance;
  • consumer banking;
  • investment services;
  • shares;
  • mortgage;
  • management of large and private capital;
  • the property;
  • commercial real estate;
  • asset management.

Bank of New York

It is the oldest bank, founded after the revolution in 1784. The founder was Alexander Hamilton, who in 1789 issued the first loan of $ 200,000 to the government of the country. Since 1878 the financial institution has been serving government bonds.

Bank of New York ranks 95th in the world and 19th in the United States in terms of capital; 104th in the world and 170th in the United States in terms of assets.

Today the bank:

  • serves individuals and legal entities;
  • issues loans;
  • issues and services credit cards;
  • opens a current account;
  • makes transactions online;
  • customer support department;
  • help them work with securities.

The Bank of New York Mellon

The Bank of New York Mellon is an American bank, formed in 2007 through the merger of two corporations. The bank consists of two divisions: investment services and investment management. The first provides:

  • brokerage;
  • clearing;
  • deposit services;
  • currency exchange.

Investment management is a set of services for working with assets and trust management. The main country of profit is the USA. In 2015, over 80% of the bank’s profits fell on the territory of America. The rest of the income comes from Europe, the Middle East, Africa, Australia. There are also branches in:

  • London;
  • Toronto;
  • Hong Kong;
  • Cayman Islands.

In America, the company has 35 departments. Among the largest investment companies, The Bank of New York Mellon ranks 7th in the world.

BB&T

BB&T is an American holding company dating back to 1872. At the end of 2015, the financial enterprise had issued loans totaling $137 billion, half of which were mortgages. Interest on securities generated $930 million in revenue for the firm, and insurance fees increased profits by $1.6 billion annually.

The company has over 2,100 offices in the United States and about 1,500 more located around the world.

Category: Finance

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