1. Banking Industry Analysis SIC: 6020
By: Brandon Solomon
Professor Reynolds
BADM 230-3

2. Industry Overview
The major businesses in the banking industry are Chase, Bank of America, Wells Fargo, Citigroup, and the U.S. Bank, listed in descending order. The five largest banks in the U.S. now control nearly 45 percent of the industry’s total assets, according to SNL Financial that comes amid an earnings season that has been generally positive for the largest institutions.
The chart below lists the leading businesses in the industry and their percentage total assets as of the end of The total is percent for the 5 businesses which leaves 55.4 percent of the assets to be divided up among 6,504 other institutions.
Bank
Total assets ($B)
Share of industry assets (%)
JPMorgan Chase
2,074.95
13.34
Bank of America
1,574.09
10.12
Wells Fargo
1,532.78
9.86
Citibank
1,356.78
8.72
U.S. Bank
398.98
2.57

3. Industry Developments
The banking industry has grown substantially over time. Some of the main causes of growth have stemmed from the establishment of ATM’s as well as online banking. Banks are revolutionizing with online banking, finding new ways to please their customers and persuading them to buy goods via credit. The banking industry is one of the largest as well as most important industries in today’s society.

4. Consumer Market Data
The banking industry requires as many civilians as possible to earn income and so they will typically target any working-class citizen.
Demographics
The total median age including males and females is 37.6 years of age and the population consist of over three-hundred and eighteen million people of different races and ethnicities. The nation still consist of mostly white people, with them accounting for 79.96% of the population, while black 12.85%, Hispanic 15.1% Asian 4.43%, Amerindian and Alaska native 0.97%, native Hawaiian and other Pacific islander 0.18%, two or more races 1.61%. 82.4% of the United States is urban with a growth rate of 1.14% from  
Psychographics
Most Americans live by the quote “time is money”. This quote is often taken very literal in the United States as when people are at restaurants they want their food in a timely manner and in the banking industry punctuality is a must.

5. Competitive Landscape
The major businesses in the banking industry are Chase, Bank of America, Wells Fargo, Citigroup, and the U.S Bank, listed in descending order. Chase’s main branch of operations is located in New York City, NY, Bank of America’s is in Charlotte, North Carolina, and Citigroup’s is in New York City, NY as well, Wells Fargo is in San Francisco California, while the U.S Bank is in Minneapolis Minnesota.
The largest five banks in the U.S. now control nearly 45 percent of the industry's total assets, according to an analysis from SNL Financial that comes amid an earnings season that has been generally positive for the largest institutions.
In total, the five institutions JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and U.S. Bancorp had just under $7 trillion in total assets as of the end of That's good for percent of the industry total. It also leaves the other 55.4 percent of the assets to be divided up among 6,504 other institutions. Banks had total assets of just over $15 trillion at year's end, a number that has grown to about $15.3 trillion in 2015, according to the Federal Reserve.