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U.S. banking industry - statistics & facts

The U.S. banking industry is dominated by four large banks: JPMorgan Chase, bank of America, Wells Fargo, and Citigroup. These four banks are not only the leading banks on a domestic scale but are also among the largest banks in the world, with JPMorgan Chase being the largest bank worldwide measured by market capitalization. Almost all banks in the country are insured by the Federal Deposit Insurance Corporation (FDIC), a government corporation insuring depository banks up to 250,000 U.S. dollars. However, the number of FDIC-insured commercial banks declined steadily since 2000.

What are the main banking activities in the United States?

The U.S. banking industry is diverse, serving the needs of many different types of clients. Main banking activities includes retail banking, investment banking, corporate banking, and wealth management. Retail banking – or individual banking – serves private clients with everyday banking activities such as current accounts, savings and deposits, issuing debit and credit cards, and providing mortgages. Investment banking is the provision of underwriting and advisory services to companies in a merger and acquisition (M&A) or when going public. Corporate banking refers to the banking activities that deals with businesses of all sizes, normally providing higher amounts of loans with higher interest rates than to private customers.

How do banks generate revenues?

Most banks’ income is generated from interest on loans: the cumulative income of all FDIC-insured commercial banks in the country was higher for interest income than non-interest income, which generally comes from fees and charges of services. However, how the large banks generate their revenues and income depends on what the bank specializes in. For example, in 2020, the largest revenue segment of U.S. largest bank JPMorgan Chase came from consumer and community banking – as with Wells Fargo and many other of the largest banks in the country - while for other banks, like the largest investment bank Goldman Sachs, most revenues in 2020 came from activities in their Global Markets segment.

Interesting statistics

In the following 4 chapters, you will quickly find the 26 most important statistics relating to "Banking industry in the U.S.".

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