Do you know the top performing banks in the country? Do you have any idea how they become the best financial institutions? Are you curious how these companies are rated? What factors are considered for them to become the best in the market? To answer these questions, read the article below to gain insights on why they are rated as such.

Banks are financial institutions that accept deposits from consumers and used them to fund lending activities. They issue debt securities, such as bonds and notes, and lend money to customers. They also lend money by making installment loans, making advances to customers and investing in debt securities. These banks provide customers with easy mode of payment through automated teller machines (ATM), telegraphic transfer and electronic fund transfer at point of sale (ETF-POS).

With the stiff competition among banks and with the onset of recession, not all banks managed to survive and be ranked among the best in the market. With the tough financial condition that we have nowadays, it is difficult to trust your money in financial entities which reputation is doubtful. If you are considering opening an account, you should not be hasty with your move, but you should be cautious and be careful in choosing one.

The top 5 banks in the country ranked according to assets. This features best forming banks ranked by Forbes magazine.

1. Bank of America Corp. – It is the largest bank in the country with assets amounted to $1,082,243,000. Much of its success is attributed to consolidation and mergers. The company’s main divisions include corporate, consumer, investment management and international relations.

2. J. P. Morgan Chase & Co. – It is the second top ranking bank which total assets totaled $1,013,985,000. It operates in more than 60 countries and has more than 200,000 employees.

3. Citigroup – It is the third top ranking bank with total assets of $706,497,000. It operates in more than 100 nations worldwide, wherein half of the company’s branches are found in the United States.

4. Wachovia Corp. – It has total assets totaling to $472,143,000.

5. Wells Fargo & Co. – It has total assets worth 403,258,000. It has 6.650 retail branches countrywide and ranks among the top 25 Green Power Partnership companies.

There are a number of other banks in the country. Other top performing banks in the country include:

* U.S. BC
* Suntrust Banks Inc.
* HSBC North America Inc.
* Keybank
* State Street Corp.
* UBS AG
* Barclays
* The Royal Bank of Scotland Group
* Deutsche Bank AG
* BNP Paribas SA
* The Bank of Tokyo-Mitsubishi UFJ Ltd.
* ABN Amro Holding NV
* Societe Generale
* Credit Agricole SA
* Bank of America NA
* JPMorgan Chase Bank National Association
* Banco Santander Central Hispano SA
* UniCredito Italiano SpA
* Credit Suisse Group
* Citibank NA
* ING Bank NV
* Bank of Scotland
* Fortis Bank NV/SA
* Sumitomo Mitsui Banking Corp.
* Commerzbank AG
* Industrial & Commercial Bank of China Ltd.
* Intesa Sanpaolo SpA
* Lloyds TSB Group PLC

With the information found above, you can now have insights on what banks to consider and what bank to deposit your money. It is wise to know a bank\’s situation before investing your money into it.

Author Bio: Hannelore Willingham enjoys writing for Riverrocksvcs.com which offers information on marketing gifts and incentive marketing as well as a host of additional services.

Category: Business
Keywords: best banks,total assets,top performing banks,top ranking bank