I have a slight bias for reporting this story because I bank with Chase and I absolutely love the way they handle my account.
By Stephen Grocer
There’s a change at the top SNL rankings of largest U.S. banks by assets, although it hardly comes as a surprise.
J.P. Morgan replaced Bank of America as the largest bank by assets. News that BofA had lost the title of the nation’s largest bank had emerged in October when the two banks reported earnings.
Beyond the change at the top, HSBC was the biggest mover on the list among the top ten. The bank saw its total assets shrink by $20 billion from the second quarter helping it slide to eighth from fifth in the rankings. Bank of New York Mellon, meanwhile, jumped two spots to 6th on the list.
Other than that there was very little movement in the rankings. GE Capital Retail Bank continued to climb up the rankings. A year ago it sat at 48th on the list. At the end of third quarter this year, it had moved up to 43rd.
The one newcomer on the list? Cullen/Frost Bankers, which entered the rankings at 49.
SNL excludes holding companies with deposits totaling less than 25% of assets from the ranking, which means that some large firms regulated as bank holding companies, such as Goldman Sachs Group Inc., Morgan Stanley and MetLife Inc., are not ranked.
Here’s the full list:
By Stephen Grocer
There’s a change at the top SNL rankings of largest U.S. banks by assets, although it hardly comes as a surprise.
J.P. Morgan replaced Bank of America as the largest bank by assets. News that BofA had lost the title of the nation’s largest bank had emerged in October when the two banks reported earnings.
Beyond the change at the top, HSBC was the biggest mover on the list among the top ten. The bank saw its total assets shrink by $20 billion from the second quarter helping it slide to eighth from fifth in the rankings. Bank of New York Mellon, meanwhile, jumped two spots to 6th on the list.
Other than that there was very little movement in the rankings. GE Capital Retail Bank continued to climb up the rankings. A year ago it sat at 48th on the list. At the end of third quarter this year, it had moved up to 43rd.
The one newcomer on the list? Cullen/Frost Bankers, which entered the rankings at 49.
SNL excludes holding companies with deposits totaling less than 25% of assets from the ranking, which means that some large firms regulated as bank holding companies, such as Goldman Sachs Group Inc., Morgan Stanley and MetLife Inc., are not ranked.
Here’s the full list:
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