The consultancy SNL’s pro-forma
ranking of the largest 50 US banks in the fourth quarter of fiscal
2010 witnessed some movement, thanks to three mergers announced in
December and January.
The biggest mover is the
US-based unit of Canada’s BMO Financial Group. Harris Financial
shot into the top 20 US banks by assets, based on the combination
of Harris’ $70.2bn in assets and Marshall & Ilsley’s $50.8bn of
assets.
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Marshall & Ilsley was
previously ranked as the 31st-largest bank in the US.
People’s United has moved up
seven places to 38th following the announcement on 20 January that
it is to acquire Danvers Bancorp.
The third-biggest mover was
GE Money Bank, which climbed six places to rank 43rd at the end of
2010.
Hancock Holding entered the
top 50 for the first time, ranking 49th.
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By GlobalDataThe top 10-based US banks
remain unchanged from the end of the third quarter of
2010.
By the end of 2010, six of the largest 20 banks were
headquartered outside the US.
