Five biggest banks hold more than 44% of the $15.3 trillion in assets held by US banks according to data compiled by SNL Financial.
Those banks — JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and US Bancorp -collectively held $6.8 trillion in assets as of 30 September 2014, the Charlottesville, Virginia-based financial information firm said.
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JPMorgan alone holds just over $2 trillion in assets, or 13.1% of the industry’s total, the report says.
The concentration of assets in just a handful of banks has risen steadily since the 1990s, although the pace has slowed in recent years, the study found.
In 1990, the five biggest US banks controlled $457.92bn, or 9.68% of the industry’s total assets.
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