Quantcast
Channel: Wall Street
Viewing all articles
Browse latest Browse all 5364

Here are the 11 biggest banks in America

$
0
0

wall streetWall Street has been dealing with tough market conditions.

Banks stocks took a hit as a summer rate hike is likely off the table following the disappointing US jobs report and other economic data. 

Regulators have upped their scrutiny since the financial crisis, and some alternative lenders are eager to fill the vacuum left by banks. 

Millennials are increasingly opting for digital banking services, and a flurry of fintech companies are set to steal market share. 

The 2016 Fortune 500 list out Monday ranked the largest publicly traded corporations in the United States by revenue for the 2015 fiscal year. Overall, profits tanked 11% from last year, and market value shrunk by 2.6% from last year to $17 trillion.

Among the biggest publicly traded commercial banks in the US as measured by 2015 revenue, JPMorgan Chase seems to be navigating the post-financial crisis world the best with $101 billion in revenue. That's followed by Bank of America, which has been firing traders to lower costs.

The ranking does not include banks incorporated outside of the US, private companies not filing with the government, banks incorporated outside the US, and US companies consolidated by other companies.

SEE ALSO: PayPal could become a threat to major banks

11. State Street Corp.

Revenue: $10.8 billion

Overall ranking: 264

Source: Fortune 500



10. Bank of New York Mellon Corp.

Revenue: $15.5 billion

Overall ranking: 179

Source: Fortune 500



9. PNC Financial Services Group

Revenue: $16.3 billion

Overall ranking: 171

Source: Fortune 500



See the rest of the story at Business Insider

Viewing all articles
Browse latest Browse all 5364

Trending Articles



<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>