FDIC Reports JPMorgan Chase #1 in U.S. Deposit Growth

FDIC Reports JPMorgan Chase #1 in U.S. Deposit Growth

The FINANCIAL -- For the third consecutive year, JPMorgan Chase led the nation in deposit growth as customers added $51 billion to their bank accounts - nearly twice as much as any other bank.

Its U.S. deposits grew to $1.1 trillion in the 12 months ending June 30, 2015, according to Federal Deposit Insurance Corp. data released this week.

Over the last five years, the bank added $478 billion in deposits - more than any other institution.

"More customers are calling Chase their primary bank as we've given them what they want - digital options for everyday transactions, and more advisors in our branches to help them plan for the future," said Barry Sommers, CEO of Chase Consumer Banking.

The bank also ranked #1 in a number of other major markets in the survey:

Detroit-Warren-Dearborn, Michigan: $32.4 billion

Phoenix-Mesa-Scottsdale, Arizona: $21.2 billion

Indianapolis-Carmel-Anderson, Indiana: $10.3 billion

Baton Rouge, Louisiana: $7.2 billion

 

Author: The FINANCIAL