JPMorgan Chase held the largest share of domestic deposits of banks in the United States as of December 31, 2022. JPMorgan Chase's share of the total domestic deposits at that time was around 7.36 percent, closely followed by Bank of America with a market share of 6.85 percent.
The U.S. banking industry
The banking industry in the United States accounts for tens of trillions of U.S. dollars in assets under management. While there are thousands of commercial banks in the country, the market is dominated by the largest four of these. This is particularly true when considering functions such as private and investment banking.
Other measures
This ranking presents the market share of domestic assets, but other measures give a slightly different picture. For example, looking at the value of total assets shows more market share in the hands of the top four firms. Apart from that, revenue of leading commercial banks, can also give a better idea of banks’ financial standing.
Market share of leading banks in the United States in 2022, by value of domestic deposits
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The selection of banks is based on the value of domestic deposits. The source adds the following information: "Only includes banks chartered in the U.S.".
Market share calculated by Statista using data from FDIC.
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Statista. (June 19, 2023). Market share of leading banks in the United States in 2022, by value of domestic deposits [Graph]. In Statista. Retrieved July 27, 2024, from https://www.statista.com/statistics/727546/market-share-of-leading-banks-usa-domestic-deposits/
Statista. "Market share of leading banks in the United States in 2022, by value of domestic deposits." Chart. June 19, 2023. Statista. Accessed July 27, 2024. https://www.statista.com/statistics/727546/market-share-of-leading-banks-usa-domestic-deposits/
Statista. (2023). Market share of leading banks in the United States in 2022, by value of domestic deposits. Statista. Statista Inc.. Accessed: July 27, 2024. https://www.statista.com/statistics/727546/market-share-of-leading-banks-usa-domestic-deposits/
Statista. "Market Share of Leading Banks in The United States in 2022, by Value of Domestic Deposits." Statista, Statista Inc., 19 Jun 2023, https://www.statista.com/statistics/727546/market-share-of-leading-banks-usa-domestic-deposits/
Statista, Market share of leading banks in the United States in 2022, by value of domestic deposits Statista, https://www.statista.com/statistics/727546/market-share-of-leading-banks-usa-domestic-deposits/ (last visited July 27, 2024)
Market share of leading banks in the United States in 2022, by value of domestic deposits [Graph], Statista, June 19, 2023. [Online]. Available: https://www.statista.com/statistics/727546/market-share-of-leading-banks-usa-domestic-deposits/