  Last year we published the list of the top 10 US banks by consolidated assets at the end of 2022 / start of 2023. Find the blog here. It is interesting what a difference a year makes. While the top 10 is constituted by the same banks, TD Bank was dethroned from the Number 9 position by Capital One. The top 10 US Banks by consolidated assets at the end of 2023 / start of 2024 according to US Federal Reserve data are:
The top 10 #USfintech by market cap / estimated value (as of today - 02 April 2024) are:
One thought - With the top 5 US Banks being 4 times larger than the next 5 and those 2nd tier 5 banks having total assets 1.4 times greater than the market capitalisation / estimated value of the top 10 US fintech companies: "How can small(er) incumbent banks compete with both these existing giants and the continual onslaught of neobanks, challenger banks and non-banks offering banking services"? My tally of US banks is 2,140 banks (i.e. insured US-Chartered Commercial Banks with consolidated assets of $300mn or more). Source: (1) Peter Oakes and (2) https://www.federalreserve.gov/releases/lbr/current/default.htm
Posted by Peter Oakes (www.peteroakes.com / Twitter @oakeslaw @US_Fintech @FintechUK_HQ @FintechIreland) #FintechUS #USFintech See also www.UKFintech.com www.FintechIreland.com
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The United States of America, China, Japan, Germany, and India are the largest economies in the world in 2024, as per their GDP data. GDP serves as a key metric for assessing the magnitude of a nation's economy. The conventional approach for gauging a country's GDP involves the expenditure method, wherein the total is derived by aggregating expenditure on fresh consumer goods, new investments, government outlays, and the net value of exports. Below is a table of the top 10 largest economies/ richest countries in the world in 2024, sourced from IMF data (as of February 07, 2024). The US is world's largest economy with a GDP of $27.974 trillion (2024) and GDP per capita (USD thousand) of $83,060.  The United States of America :
The United States upholds its status as the major global economy and richest country, steadfastly preserving its pinnacle position from 1960 to 2023. Its economy boasts remarkable diversity, propelled by important sectors, including services, manufacturing, finance, and technology. The United States enjoys a substantial consumer market, fosters innovation and entrepreneurial spirit, possesses resilient infrastructure, and experiences advantageous business conditions. Source: https://www.forbesindia.com/article/explainers/top-10-largest-economies-in-the-world/86159/1
Posted by Peter Oakes (www.peteroakes.com / Twitter @oakeslaw @US_Fintech @FintechUK_HQ @FintechIreland) #FintechUS #USFintech See also www.UKFintech.com www.FintechIreland.com
UPDATED: 7 February 2024 (see post here)
The United States of America, China, Japan, Germany, and India are the largest economies in the world in 2024, as per their GDP data. GDP serves as a key metric for assessing the magnitude of a nation's economy. The conventional approach for gauging a country's GDP involves the expenditure method, wherein the total is derived by aggregating expenditure on fresh consumer goods, new investments, government outlays, and the net value of exports. Below is a table of the top 10 largest economies/ richest countries in the world in 2024, sourced from IMF data (as of February 07, 2024). The US is world's largest economy with a GDP of $27.974 trillion (2024) and GDP per capita (USD thousand) of $83,060
Below is our first post on the percentage share of the Global Economy held by the USA of 19 November 2024.
US has retained its position of being the world's largest economy with U.S. Nominal GDP: $21.44 tn; U.S. GDP (PPP): $21.44tn.
The US has been the world's largest economy since 1871. The size of the US economy is up from $20.58tn in 2018 (in nominal terms) and is forecast to hit $22.32 trillion during 2020. The US's economic superpower contributes almost a quarter of the global economy, backed by advanced infrastructure, technology, and an abundance of natural resources. Further evidence of the US economy's economic importance is noted in a previous US Fintech post which covers how the US biggest banks have grown substantially. The top 15 largest banks now hold a combined total of $13.7 trillion in assets. And the top 10 banks' share is approaching 80% of that figure, at $10 trillion. The US economy is projected to grow to $24.88 trillion by 2023, followed closely by China at $19.41tn. Countries by GDP
GDP based on PPP share of 2018 world total, in %
Source: https://www.investopedia.com/insights/worlds-top-economies/#1-united-states
Posted by Peter Oakes (www.peteroakes.com / Twitter @oakeslaw @US_Fintech @FintechUK_HQ @FintechIreland) #FintechUS #USFintech See also www.UKFintech.com www.FintechIreland.com |
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