Bank Stocks Surge on Buyback and Dividend Hopes

## Overview JPMorgan Chase & Co. is the largest bank in the United States and, as of 2025, the world’s largest bank by market capitalization, with operations in more than 100 countries and a global workforce exceeding 300,000 employees[4][5]. Headquartered in New York City, it is a systemically important financial institution recognized for its strength, scale, and innovation across consumer, commercial, and investment banking, asset management, and financial technology[2][4][5]. ## What the Organization Does JPMorgan Chase offers a comprehensive suite of financial services, including retail banking (under the Chase brand), investment banking, asset management, private banking, treasury services, and commercial banking. It serves individuals, small businesses, corporations, governments, and institutional clients, leveraging advanced technology to deliver digital banking solutions, payment systems, and cybersecurity innovations[2][5]. Its investment banking division is a global leader in mergers and acquisitions, capital markets, and advisory services, while its asset management arm manages trillions in client assets[5]. ## History The firm’s origins trace back to 1799, when Aaron Burr and Alexander Hamilton founded The Manhattan Company to provide clean water to New York City—a venture that quickly evolved into a bank due to a clever charter provision[1][3]. This institution later became The Bank of the Manhattan Company. Meanwhile, J.P. Morgan & Co. was established in 1871 by financier J.P. Morgan, becoming a dominant force in American finance[2][5]. The modern JPMorgan Chase emerged from the 2000 merger of J.P. Morgan & Co. and The Chase Manhattan Corporation, followed by significant acquisitions including Bank One (2004), Bear Stearns and Washington Mutual (2008), and First Republic Bank (2023)[2][4]. ## Key Achievements JPMorgan Chase has played pivotal roles in stabilizing financial markets, notably during the pan

Bank of America, one of the largest financial institutions globally, was founded in 1904 as the Bank of Italy by Italian immigrant Amadeo Peter Giannini in San Francisco. Giannini’s mission was pioneering for its time: to serve immigrants and "the little fellows" often overlooked by other banks, reflecting a commitment to inclusive banking[1][2][3]. The bank officially adopted the name Bank of America in 1930 and grew significantly under Giannini’s leadership, who became a key figure in 20th-century American banking[1][7]. Throughout its history, Bank of America has expanded through major mergers and acquisitions, including the 1992 merger with Security Pacific Corporation, which created the nation’s second-largest bank, and the 1998 acquisition of NationsBank, which led to the formation of the current Bank of America Corporation headquartered in Charlotte, North Carolina[1][2][3][4]. It further expanded its wealth management and investment banking capabilities by acquiring Merrill Lynch during the 2008 financial crisis, establishing a strong presence in these sectors[2]. Bank of America today serves a broad client base encompassing individuals, small and middle-market businesses, large corporations, and governments, offering a comprehensive range of banking, investment, and financial risk management products and services. It operates approximately 4,600 banking centers and 16,000 ATMs across the U.S. and maintains a global commercial banking footprint[2][3][5]. Its wealth management unit is the second largest worldwide, managing over $1 trillion in assets[2]. Notable achievements include pioneering the general-purpose credit card, which evolved into the widely used Visa card, and introducing one of the first home banking products in 1983, allowing customers to manage finances electronically[4][8]. The bank has demonstrated resilience through economic challenges, repaying government aid after the 2008 crisis and maintaining strong customer satisfaction, as recognized by J.D. Power awards[2][

Citigroup Inc., commonly known as Citi, is an American multinational investment bank and financial services corporation headquartered in New York City. It ranks as the third-largest banking institution in the United States by assets and is considered one of the "Big Four" alongside JPMorgan Chase, Bank of America, and Wells Fargo. Established in 1998 through the merger of Citicorp (Citibank’s parent) and Travelers Group, Citigroup became the world’s largest financial services organization at that time. Travelers was later spun off in 2002[1]. Citi operates mainly through two divisions: Institutional Clients Group (ICG), which provides investment banking, corporate banking, treasury, trade solutions, and securities services; and Personal Banking and Wealth Management (PBWM), which includes Citibank retail operations, the third-largest credit card issuer, and wealth management services[1]. It is recognized as a systemically important bank, often labeled "too big to fail," and is part of the elite Bulge Bracket of global investment banks. It ranked 36th on the 2023 Fortune 500 list and 24th on Forbes Global 2000[1]. In recent years, Citi has focused on simplifying its operations and enhancing its global footprint. In 2019, it combined its Global Markets and Securities Services to create a unified Markets & Securities Services division, broadening its trading and clearing capabilities[1]. By 2025, Citi’s strategy emphasized leveraging AI and data enhancements, divesting from certain international consumer markets, and concentrating on core interconnected businesses including banking, markets, and wealth management. For instance, it agreed to sell a 25% stake in Banamex as part of a planned divestiture[2][3]. Financially, Citi reported a strong third quarter in 2025 with revenues of $22.1 billion and net income of $3.8 billion, reflecting growth across all business segments and a continued commitmen