The main competitors of Bank of America Corporation (NYSE: BAC) are the other three "big four" U.S. banks: JPMorgan Chase (NYSE: JPM), Wells Fargo (NYSE: WFC), and Citigroup (NYSE: C).

The largest of the "big four" U.S. banks is JPMorgan Chase (JPM), with reported assets of $2,533.6 trillion and total deposits of $1,443.98 trillion as of December 2018. Bank of America (BAC) is second, with $2,281.23 trillion in assets and $1,309.55 trillion in deposits. Wells Fargo is third, with $1,951.76 trillion in assets and $1,335.99 trillion in deposits, and Citigroup is fourth, with $1,842.47 trillion in assets and $959.82 billion in deposits as of December 2018.

Bank of America: An Overview

Bank of America Corporation is headquartered in Charlotte, North Carolina. Bank of America Corporation was founded when Nations Bank acquired BankAmerica (as it was known at the time) in the largest bank acquisition in history at the time. Bank of America built upon its commercial banking business by establishing Merrill Lynch for wealth management in 2008 and Bank of America Merrill Lynch for investment banking in 2009. Including its Merrill Lynch and U.S. Trust wealth management units, Bank of America is the largest provider of wealth management services worldwide.

In 2019, Forbes ranked Bank of America as the fifth-largest corporation in the world. In 2019, Bank of America was recognized as the sixth most valuable bank brand name in a Brand Finance study of more than 500 banks.

Bank of America operates nationwide in the U.S. and its territories, and in more than 35 countries, serving 66 million consumer and business clients worldwide.

Bank of America's 2018 annual earnings per share (EPS) was $2.61—a 67.31% increase from 2017. Bank of America's market capitalization was $299.72 billion as of November 29, 2019. Bank of America's return on assets (ROA) was 1.10% and its return-on-equity (ROE) was 9.81% as of September 30, 2019. Its net profit margin was 24.16% as of September 30, 2019. Its price-to-book ratio (P/B ratio) was 1.22 as of December 2, 2019.

JPMorgan Chase & Company

JPMorgan Chase & Company, headquartered in New York City, was established through a merger between J.P. Morgan Bank and Chase Manhattan Bank in 2000. JPMorgan Chase is the result of a series of mergers and acquisitions, including acquisitions of Bear Stearns, Bank One and Washington Mutual. It is the largest American bank by total assets.

In 2019, Forbes ranked JPMorgan Chase as the second-largest corporation in the world.

JPMorgan Chase provides a vast array of commercial and investment banking services in more than 100 countries, operating dozens of business lines through four primary divisions:

  1. Consumer and community banking (CCB)
  2. Commercial banking (CB)
  3. Corporate and investment banking (CIB)
  4. Asset management (AM)

JPMorgan Chase's 2018 annual earnings per share (EPS) was $9—a 42.63% increase from 2017. JP Morgan Chase's market capitalization was $413.26 billion as of November 29, 2019. Its return on assets ratio (ROA) was 1.22%, and its return on equity ratio (ROE) was 12.72% as of September 30, 2019. Its net profit margin is 23.32% as of September 30, 2019. Its price-to-book ratio (P/B ratio) is 1.75 as of December 2, 2019.

Wells Fargo & Company

Wells Fargo & Company, headquartered in San Francisco, was founded in 1852 by Henry Wells and William G. Fargo. The most important Wells Fargo acquisitions include First Interstate Bancorp, Norwest Financial and Wachovia Bank. As of February 8, 2019, Wells Fargo ranks as the third-largest bank in America by market capitalization.

In 2018, Wells Fargo was recognized as the world's third most valuable bank brand name (behind ICBC and China Construction Bank) in a Brand Finance study of more than 500 banks. In 2019, Forbes ranked Wells Fargo as the tenth-largest corporation in the world.

Wells Fargo offers a wide range of banking and financial services through its more than 7,600 locations and its operations in 32 countries and territories.

Wells Fargo's 2018 annual earnings per share (EPS) was $4.28—an increase of 4.39% from 2017. Its market capitalization was $230.33 billion as of December 2, 2019. Its return-on-assets ratio (ROA) was 1.10%, and its return-on-equity ratio (ROE) was 10.68% as of September 30, 2019. Its net profit margin was 20.11% as of September 30, 2019. Its price-to-book ratio (P/B ratio) was 1.33 as of December 2, 2019.

Citigroup Inc.

Citigroup Inc., headquartered in New York, was formed in 1998 through the merger of Citicorp Bank and Travelers Group, creating what was the world's largest financial services corporation at the time.

In 2019, Forbes ranked Citigroup as the fourteenth-largest corporation in the world. Its operations span more than 100 countries with the largest international presence of any of the "Big Four" banks.

Citigroup's 2018 annual earnings per share (EPS) was $6.69, a decline of 324.5% from 2017. Its market capitalization was $164 billion as of December 2, 2019. Its return-on-assets ratio (ROA) was 0.88%, and its return-on-equity ratio (ROE) was 8.81% as of September 30, 2019. Its net profit margin was 16.96% as of September 30, 2019. Its price-to-book ratio (P/B ratio) was 0.92 as of December 2, 2019.