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By :
Alex De Mostafa
Submitted
2010-04-28 02:48:45 |
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For prudent investors having in depth knowledge on how the US banking industry is performing and finding the most consistent banks is a necessity. While the recession seems to be on its way out it makes good fiscal sense to examine the institutions you may be thinking of putting your money in.
The ten most successful banks in the United States in recent times are listed in relation to statistics as of the 31st of March 2010.
1.Bank of America Corporation Charlotte NC $2,224,539,279
2.JPMorgan Chase -Co. New York, NY $2,031,989,000
3.Citigroup Inc. New York NY $1,856,646,000
4.Wells Fargo - Company San Francisco, CA $1,243,646,000
5.Goldman Sachs Group Inc., New York, NY $849,278,000
6.Morgan Stanley New York, NY $771,462,000
7.Metlife, Inc. New York, NY $539,314,240
8.HSBC North America Holdings Inc. New York, NY $391,332,071
9.Taunus Corporatino New York, NY $369,105,000
10.Barclay's Group US Inc. Wilmington, DE $365,703,204
Brief Summary of the Top 5 US Banks
-- Bank of America Corporation is distinguished as the most prominent bank in the United States of America in terms of its assets and is ranked second based on its Market Capitalization. It has an impressive track record with customers in over 150 countries world wide. In addition 99 percent of fortune 500 companies nationally and 83 percent of those overseas do business with the bank.
-- JP Morgan Chase - Co. is a long-standing financial services institution and is known worldwide. It has branches in a total of 60 countries and is a leading competitor in the financial services market with assets estimated at $2 trillion dollars, it also has the highest ranked market capitalization in the Country.
-- Citigroup is a lucrative financial service institution. It was the offspring of the merger between Citicorp and Travellers group as of the 7th of April, 1998. It has a very powerful network which includes, 140 countries, with an estimated 16,000 offices globally. It currently employs a total of 300,000 employees and is home to 200 million customer bank accounts. It is licensed as a dealer in US treasury securities.
-- Wells Fargo -Co. is a financial services institution which maintains branches all over the globe. When considered by assets, it is the fourth most successful bank and places third when market capitalization is used as the basis for comparison. It is one of the major banks in the area of bank deposits, debit card management and issuing and home mortgage servicing. It performed a cut above the rest in 2007 earning an AAA rating that was later downgraded to AA-5 as a result of the recent financial disaster that retarded expansion.
-- Goldman Sachs Group Inc is a global investment and banking securities firm which provides an extensive list of options to investors including: investment banking, investment management, securities services and other services. In addition it is licensed as a seller of United States Treasury securities.
While banking industries will go through a few ups and downs, there are still prominent institutions that tend to be more sound when it comes to investing your money properly.
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This article is provided for educational and informational purposes only and should not be considered a substitute for financial advice. The information found in this article is provided "AS IS", and all warranties, express or implied, are disclaimed by the author.Author Resource John write articles about US Banks for http://www.bankbranches.net.
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