Over 10,000 banks are operating around the globe, creating wealth for their owners while providing banking services for its customers. It’s easy to choose a local bank close to you and start banking with them. But when it comes to best experience and banks with an international reputation, only a few names pop inside your head. There are only a few banks that have remained in operation for more than 200 decades with excellent customer service and international recognition. This article is going to reveal the top 5 best banks in America on how long they’ve been active and the type of service they render to their customers.
The Top 5 best banks in America
JPMorgan Chase
JPMorgan Chase is in the top 5 best banks in America, based in New York. The bank came to be as a result of a merger between two ancient banks JP Morgan & Company and Chase Manhattan back in 2000. The bank is two working firms even though they’re together. While JPMorgan deals with investment and private wealth management, Chase is associated with retail and commercial banking.
They are the largest bank in the whole of America, with its total assets $2.6trillion. Its consumer Banking division, Chase bank has over 5,100 branches and more than 16,000 ATMs around the globe. It has the consumer bank headquarters in Columbus, Ohia.
Bank of America
The bank of America is also among the top 5 best banks in America and has the headquarters in Charlotte, NC. The bank has a high reputation around the Globe, in wealth management. It started as a firm for immigrants serving in San Francisco but is on the list of top 5 best banks in America today.
The bank has a total of $2.3trillion in assets and had $91.2billion in revenue in 2018 with a net income of $28.14 billion. They currently oversee the operation of 4600 banks and 15,900 ATMs across the world.
Citigroup Inc
Citigroup Inc has been in business for years now and was the first bank operating in the US to go international. Its first international branch came in 1914 in Argentina. They’re currently on the list of top 5 best banks in America with assets totaling $1.917 trillion.
The bank has over 200million customers banking with them, over $300 billion in deposit in the US alone, and over 4600 branches across the world. It’s also a New York-based bank.
Wells Fargo and Co
Wells Fargo is an international bank with its headquarters in San Francisco. It started during the early days of the Golden rush. Today is one of the top 5 best banks in America, with over $1.895 trillion in total assets.
The financial institution currently has over 8,399 retail centers across the world with, over 15,000 ATMs. They have 268,000 employees on their payroll.
WellFargo also renders services like wealth management, asset management, corporate banking, as well as other banking services. It’s one of the best banks in America and the best in capitalization.
Goldman Sachs Group Inc
As of 2018, Goldman Sachs has its total assets totaling $933 Billion. It had $36.6 billion in revenue and $10.5 billion in net income. The firm has its headquarters in New York while operating in over 1000 cities across the globe.
The bank has a high score when it comes to asset management, Security, prime brokerage, and investment banking. They’re considered a basic dealer in the US state treasury security, and the best investment banking facilities in the world.
From the Total assets of each bank in this list, JPMorgan Chase is up there with $2.6 trillion, followed by Bank of America with a total asset of $2.3 trillion. Citigroup Inc and Wells Fargo have $1.917 trillion and $1.895 trillion respectively, while Goldman Sachs is $67 million short from being called a trillion dollars firm.
