World's Largest Bank by Market Capitalization, JPMorgan Chase sets world record

November 18, 2024

New York City, New York, United States--JPMorgan Chase & Co.(stylized as JPMorganChase, NYSE: JPM), an American multinational financial services firm headquartered in New York City and incorporated in Delaware, serves millions of customers, clients and communities in over 100 global markets and has $4 trillion in assets, setting the world record for being the World's Largest Bank by Market Capitalization, according to the WORLD RECORD ACADEMY.

"JPMorgan Chase returns to the top spot overall in 2024 after rising from fourth place two years ago on the back of its acquisition of First Republic out of insolvency. It has $4 trillion in assets," the Forbes reports.

"JPMorganChase is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research," the Forbes says.

"It operates through the following segments: Consumer and Community Banking, Corporate and Investment Bank, Commercial Banking and Asset and Wealth Management. The Consumer and Community Banking segment serves consumers and businesses through personal service at bank branches and through automated teller machine, online, mobile, and telephone banking."

"The Corporate and Investment Bank segment offers a suite of investment banking, market-making, prime brokerage, and treasury and securities products and services to a global client base of corporations, investors, financial institutions, government and municipal entities," the Forbes says.

"The Commercial Banking segment delivers services to U.S. and its multinational clients, including corporations, municipalities, financial institutions, and non profit entities.

"It also provides financing to real estate investors and owners as well as financial solutions, including lending, treasury services, investment banking, and asset management. The Asset and Wealth Management segment provides asset and wealth management services."

"JPMorgan Chase & Co. (stylized as JPMorganChase) is an American multinational financial services firm headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States and the world's largest bank by market capitalization as of 2023.

"As the largest of the Big Four banks in America, the firm is considered systemically important by the Financial Stability Board. Its size and scale have often led to enhanced regulatory oversight as well as the maintenance of an internal "Fortress Balance Sheet".

"The firm is headquartered at 383 Madison Avenue in Midtown Manhattan and is set to move into the under-construction JPMorgan Chase Building at 270 Park Avenue in 2025." (Wikipedia)

"With $3.9 trillion in total assets, JPMorgan Chase is the fifth largest bank in the world by assets. The firm operates the largest investment bank in the world by revenue.

"It occupies the 24th spot on the Fortune 500 list of the largest U.S. corporations by revenue. In 2023, JPMorgan Chase was ranked #1 in the Forbes Global 2000 ranking.

"The company's balance sheet, geographic footprint, and thought leadership have yielded a substantial market share in banking and a high level of brand loyalty. Alternatively, it receives routine criticism for its risk management, broad financing activities, and large-scale legal settlements." (Wikipedia)

"JPMorganChase serves millions of customers, clients and communities in over 100 global markets. For 225 years, our work has been guided by principles that strengthen, protect and grow our company over time," the official website says.

"We leverage our business and expertise to help address economic and societal challenges, supporting our clients and providing targeted capital to contribute to an inclusive, sustainable economy."

"JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.2 trillion in assets and $346 billion in stockholders’ equity as of September 30, 2024," an official press release says.

"The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management.

"Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally."

"The five largest banks by market capitalization are JPMorgan Chase, Bank of America, Industrial and Commercial Bank of China, Agricultural Bank of China, and Wells Fargo," the Investopedia says.

"JPMorgan stands atop the banking world with a market capitalization of over $600 billion, almost double its closest competitor. This financial giant, based in New York City, offers services that span consumer banking, commercial banking, investment banking, and asset management. Under the leadership of CEO Jamie Dimon, JPMorgan has consistently delivered strong financial performance, even in challenging economic environments.

"The bank's vast scale allows it to invest heavily in technology, giving it a leg up in digital banking trends. However, like all major banks, JPMorgan Chase faces ongoing challenges, including regulatory scrutiny, cybersecurity threats, and the need to adapt to rapidly changing consumer preferences in financial services."

"As of December 31, 2023, the largest bank in the world in terms of market capitalization was the U.S.-based JPMorgan Chase," the Statista says.

"The American banking giant's market cap exceeded 490 billion U.S. dollars, which was significantly higher than Bank of America's, which ranked second with a market cap of approximately 266.45 billion U.S. dollars.

"JPMorgan Chase was also the largest bank in the United States in terms of total assets but ranked only fifth globally, behind four Chinese banks."

1. JPMorgan Chase & Co. (JPM)

Market cap: $374.15 billion
Country: USA

"JPMorgan Chase & Co. is one of the largest and most successful banks in the world. One key factor in the bank's success is its diversification. JPMorgan Chase & Co. operates in a range of different areas, including consumer banking, investment banking, and commercial banking, giving it a broad customer base and a variety of revenue streams," the Wealth Professional says.

"Another factor contributing to the bank's success is its commitment to innovation and technology. JPMorgan Chase & Co. has invested heavily in technology, including blockchain and artificial intelligence, to improve its operations and provide better services to customers."