In the 24-year period between 1994 and 2018, giant banks have come to dominate the banking sector.
As these graphs illustrate, in 1994, small banks, medium banks, large banks, and giant banks all had a roughly even share of the market.
Now, that’s changed dramatically. By 2018, the market share of the biggest banks had expanded to 59 percent, and the top four largest banks alone controlled 36 percent of the market — more than all of the small-sized banks and credit unions and all of the mid-sized banks and credit unions combined. To view this change as an animated video, go here.
See more of our banking charts and data here.
If you liked this post, be sure to sign up for the monthly Hometown Advantage newsletter for our latest reporting and research.