JPMorgan Chase became the largest American bank by market capitalization after acquiring Bear Stearns and Washington Mutual.
JPMorgan Chase expanded dramatically during the 2008 financial crisis. It acquired Bear Stearns in March 2008 with government support and later acquired the banking operations of Washington Mutual in September 2008. These transactions strengthened its investment banking, commercial banking, and consumer-finance businesses.
The company traces its history through several major American financial institutions, including J.P. Morgan, Chase Manhattan, Chemical Bank, and Bank One. Its broad business mix helped it remain one of the world’s most valuable banking companies.
The phrase “largest bank” can mean different things. Rankings may use market capitalization, total assets, deposits, or annual revenue. JPMorgan Chase has often led U.S. banking companies by market value, while Chinese banks have frequently ranked higher globally by assets. That distinction explains why lists of the world’s biggest banks may appear to disagree.