The 2015 ranking of top North American lenders presents a picture of growing stability. Almost all of the top ranking banks in the region have continued to expand their Tier 1 capital, with the only exceptions being three Canadian lenders: Bank of Montreal, Canadian Imperial Bank of Commerce (CIBC) and Desjardins Group.
JPMorgan Chase tops the regional ranking for the third consecutive year, with $186.63bn of core capital. It is followed by Bank of America and Citigroup, which rank second and third, respectively. There is no movement from last year's ranking in the first seven places in the ranking, with the largest institution to gain ground being US Bancorp, which replaces PNC Financial in eighth place. Further down the table, Ally Financial and State Street both gain one position. They move into 18th and 19th position, respectively, and push CIBC down two places to 20th.
New names do, however, feature in the highest movers and most profitable banks rankings. Investor Bancorp, a US-based lender serving New Jersey and New York residents, has expanded its Tier 1 capital by the highest margin in the region: a substantial 177.16%. The bank has about 130 retail branches, and provides mortgages and other real estate-related loans, as well as current and savings accounts. Another eastern US-based bank, First Niagara, displayed the highest return on capital in North America, thanks to an impressive 49.83% ratio. The bank serves both retail and corporate customers across the states of New York, Pennsylvania, Connecticut and Massachusetts.
As in previous years, six Canadian banks feature in the top 25 regional list. Royal Bank of Canada is the top ranking Canadian institution and places seventh in the region with $37.41bn of core capital. The highest ranking North American new entrant in the global ranking is another Canadian lender, Manulife Bank of Canada. The Toronto-based mortgage provider is part of Manufacturers Life Insurance, and closed the 2014 financial year with Tier 1 capital of $1.14bn.
