For wise investors knowing how the US banking industry is being operated and determining the most consistent banks is a necessity. While the recessionary period seems to be on its way out it makes good fiscal sense to examine the corporations you may be considering for investment purposes.
The ten most successful banks in the United States to date are as follows in relation to statistics as of the 03/31/2010.
1.Bank of America Corporation Charlotte NC $2,224,539,279
2.JPMorgan Chase -Co. New York, NY $2,031,989,000
3.Citigroup Inc. New York NY $1,856,646,000
4.Wells Fargo – Company San Francisco, CA $1,243,646,000
5.Goldman Sachs Group Inc., New York, NY $849,278,000
6.Morgan Stanley New York, NY $771,462,000
7.Metlife, Inc. New York, NY $539,314,240
8.HSBC North America Holdings Inc. New York, NY $391,332,071
9.Taunus Corporatino New York, NY $369,105,000
10.Barclay’s Group US Inc. Wilmington, DE $365,703,204
Brief Summary of the Top 5 US Banks
— Bank of America Corporation is considered the most prominent bank in the United States of America in relation to its assets and is ranked second in relation to its Market Capitalization. It has an impressive track record with clients in over 150 countries world wide. Additionally 99 percent of fortune 500 companies in the US and 83 percent of those overseas do business with the institution.
— JP Morgan Chase – Co. is a long-standing financial services institution and is known worldwide. It operates in a total of 60 countries and is a leading competitor in the financial services market with assets estimated at $2 trillion dollars, it also has the highest ranked market capitalization in the United States .
— Citigroup is a viable financial service limited. It was the result of the merger between Citicorp and Travellers group that occurred on the 7th of April, 1998. It has a very powerful network which includes, 140 countries, with just about 16,000 offices across the globe. It currently employs a total of 300,000 employees and is home to 200 million customer bank accounts. It is licensed as a dealer in US treasury securities.
— Wells Fargo -Co. is a financial services company which has branches globally. When considered by assets, it is the fourth most successful bank and places third once market capitalization is used as the basis for comparison. It is one of the major banks in the area of bank deposits, debit card management and issuing and home mortgage servicing. It performed very well in 2007 earning an AAA rating that was later reduced to AA-5 as a result of the latest financial crisis that stunted growth.
— Goldman Sachs Group Inc is a global investment and banking securities firm which provides an exhaustive list of alternatives to investors including: investment banking, investment management, securities services and other services. Additionally it is licensed as a seller of United States Treasury securities.
While banking industries will experience a few ups and downs, there are still major institutions that tend to be more sound when it comes to investing your money properly.
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This article is provided for educational and informational purposes only and should not be considered a substitute for financial advice. The information found in this article is provided “AS IS”, and all warranties, express or implied, are disclaimed by the author.
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