Size Distribution and Market Share of Banks by Assets: A Comparative Overview of the Banking System - US versus Canada, UK and India
Introduction There are currently 4,012 commercial banks in the United States as of the first quarter of 2024. The banking industry can be characterized as a complex ecosystem composed of various types of financial institutions, each serving distinct roles and catering to different customer needs. Among these institutions, community banks, regional banks, and money center banks stand out due to their unique characteristics and operational scopes. Understanding the differences between these types of banks is essential for consumers, businesses, and policymakers alike. Table 1. Size Distribution of Insured Commercial Banks, First Quarter 2024 Assets Number of Banks Share of Banks (%) Total Assets (in billions) Share of Assets Held (%) Total Deposits (in billions) Share of Deposits Held (%) Less than $100 million ...