May 24, 2022
JPM, BAC and RY are the largest stocks by Market Cap.
It shouldn’t be a surprise that some of the most valuable companies in the world are financial institutions. Why? Well, because it’s their job to make money from money. For centuries, the banking industry has played an important role in financing relevant ventures and securing the funds of individuals and companies.
In the modern era of markets, their role is still critical. However, the banks of today don’t just lend money to rich people or offer a safe place to stash away cash. Nowadays, many banks invest in the stock and bond markets, offer credit cards, student loans, and mortgages, and provide other products such as wealth planning.
Here’s a list of the largest banks in the world: