JPMorgan Chase became the first US bank to surpass a US$500 billion market capitalization.
The milestone was reached in 2024 as investors continued to value JPMorgan Chase as the largest US bank by assets and one of the most diversified global financial institutions. Its businesses include consumer banking, commercial banking, investment banking, asset management, and payments.
JPMorgan Chase was created in its modern form through the 2000 merger of J.P. Morgan and Chase Manhattan. The company’s history also incorporates earlier institutions, including Bank One and Chemical Bank, which expanded its national reach.
A bank’s market capitalization is not the same as its total assets. Assets measure the resources recorded on its balance sheet, while market capitalization measures the value investors assign to its common equity. Both figures can be used to compare banks, but they answer different questions.