As of January 2024, the market capitalization of Royal Bank of Canada amounted to 142.03 billion Canadian dollars, which placed the company at the top of the ranking.
What is market capitalization?
Market capitalization is one of the measures of the financial strength of a company. It shows the value of shares outstanding of a publicly traded company. It is basically calculated by multiplying the number of shares traded on a stock exchange by the price of a single share.
Worldwide rankings
In the United States, JP Morgan Chase bank had the largest market cap among the U.S. banks, amounting to 393.34 billion U.S. dollars in December 2022. The bank was also the leader in the global ranking, followed by Bank of America, and ICBC (Industrial and Commercial Bank of China).
