US Banks by Market Cap, Four Largest Banks 2000 to 2024

Key points from the chart

The chart tracks the market capitalisation of JPMorgan Chase, Bank of America, Citi and Wells Fargo from 2000 to 2024, in billions of US dollars.
JPMorgan Chase ends 2024 as the most valuable of the four by a wide margin, its line well above the others.
Citi’s line is the highest of the four in the early 2000s and the lowest by 2024.
Two events are marked: the 2008 financial crisis and the 2020 COVID-19 pandemic. All four lines fall at both.
Bubbles give each bank’s consolidated assets in Q3 2024, from JPMorgan Chase’s $3,584B to Wells Fargo’s $1,699B.

All figures are from the graphic, which cites the Federal Reserve, S&P 500 and Yahoo Finance.

The four largest US banks on the chart

Title: Market Capitalization of the Four Largest U.S. Banks. The chart is a line chart on a dark background. The vertical axis is “Market Cap (Billion US$)” from 0 to 800 in steps of 100. The horizontal axis is labelled 2000, 2008, 2016, 2020, 2022 and 2024; recent years are spread out more widely than earlier ones. Each line ends at the bank’s logo. The lines carry no printed values.

The four bubbles in the top left are sized by consolidated assets, with the caption “Consolidated Assets in Q3 2024”:

Bank	Consolidated assets, Q3 2024 (graphic)	Federal Reserve figure, 30 Sept 2024 ($ million)	Line colour on the chart
JPMorgan Chase	$3,584B	3,584,105	Light grey, labelled JPM
Bank of America	$2,566B	2,565,878	Dark blue
Citi	$1,733B	1,733,111	Light blue
Wells Fargo	$1,699B	1,698,675	Red

Annotations: “2008 Financial Crisis” and “2020 COVID-19 Pandemic”. Footer: “Sources: Federal Reserve, S&P 500, Yahoo Finance”, www.econovis.net, @econovisuals on X and the Econovis “EV” logo.

Market cap and assets measure different things

The title is about market capitalisation, the stock market value of each bank’s shares. The bubbles show something else: consolidated assets, the size of the bank’s balance sheet. The asset figures match the Federal Reserve’s list of large commercial banks for 30 September 2024 to the nearest billion: JPMorgan Chase Bank $3,584,105 million, Bank of America $2,565,878 million, Citibank $1,733,111 million and Wells Fargo Bank $1,698,675 million [3]. These are the four largest banks on the Federal Reserve list, in the same order as the bubbles [3].

So the order by assets and by market value can differ. On the chart, Wells Fargo’s market cap line sits above Citi’s in 2024 even though Citi has slightly more assets.

How much the four banks were worth at the end of 2024

Econovis published the chart with a short note. It says the combined market capitalisation of JPMorgan, Bank of America, Citigroup and Wells Fargo rose by 33% in 2024, from $1.04 trillion in December 2023 to $1.38 trillion at the end of the year, and that JPMorgan led the growth over short, medium and long periods [1].

Econovis had posted an earlier version of the chart in July 2024 under the title Market Capitalization of the Four Largest U.S. Banks (2000 to 2024) [2]. The graphic on this page is the January 2025 version.

Notes on this infographic

Two measures on one graphic. The bubbles are consolidated assets, not market cap; see above. The Federal Reserve figures are for the national bank subsidiaries, as listed in its large commercial banks release [3].
Uneven time axis. The gap from 2000 to 2008 is drawn about the same width as 2020 to 2022, so the slope of early lines is compressed.
No printed values. Market cap values can only be read approximately from the gridlines; the only exact market cap figures we have are Econovis’s combined totals [1].
Data date. Market cap to the end of 2024; assets at Q3 2024.

Questions about US banks by market cap

What is the largest bank in the US?

JPMorgan Chase. It has the most consolidated assets on the Federal Reserve’s list, $3,584,105 million on 30 September 2024 [3], and the highest market cap line on the chart.

Is Chase the largest bank in the US?

Yes. JPMorgan Chase Bank is ranked first by consolidated assets in the Federal Reserve’s large commercial banks list [3], ahead of Bank of America, Citibank and Wells Fargo.

How much are the four biggest US banks worth?

The combined market capitalisation of JPMorgan, Bank of America, Citigroup and Wells Fargo was $1.38 trillion at the end of 2024, according to Econovis [1]. That was up 33% from $1.04 trillion in December 2023, and Econovis says JPMorgan led the growth over short, medium and long periods [1]. JPMorgan Chase ends 2024 as the most valuable of the four by a wide margin.

Is Citi bigger than Wells Fargo?

By assets, yes, slightly: Citibank had $1,733,111 million in consolidated assets on 30 September 2024, against $1,698,675 million for Wells Fargo Bank [3]. By market value the order is reversed, with Wells Fargo's market cap line sitting above Citi's in 2024. Citi's line was the highest of the four banks in the early 2000s and the lowest by 2024.