JPMorgan Chase became the first U.S. bank with more than $1 trillion in assets in 2007.
JPMorgan Chase crossed the $1 trillion asset threshold in 2007, reflecting the scale created by its banking, investment, and financial-services businesses. The company was formed in its modern structure when JPMorgan Chase & Co. merged with Bank One in 2004. It later acquired Bear Stearns and Washington Mutual during the 2008 financial crisis.
The company traces parts of its history to institutions including J.P. Morgan & Co., Chase Manhattan Bank, and Chemical Bank. Its businesses cover consumer banking, commercial banking, investment banking, asset management, and card services.
JPMorgan Chase is often among the world's largest banks by market capitalization, but bank rankings differ depending on whether they use market value, assets, revenue, or deposits. Assets measure resources controlled by the bank, not the value investors assign to its shares.