5 Biggest Finance Companies in the World

4. Bank of America Corporation (NYSE:BAC)

Market Capitalization as of 10/30: $290.32 billion

Number of Hedge Fund Holders: 99

Although banks face headwinds given inflation and a potential economic slowdown, Bank of America Corporation (NYSE:BAC) nevertheless has seen strong consumer spending and an increase in consumer loans in the third quarter. Bank of America Corporation (NYSE:BAC) CEO Brian Moynihan said, “Our U.S. consumer clients remained resilient with strong, although slower growing, spending levels and still maintained elevated deposit amounts.” Given higher interest rates, the bank’s net interest margin increased to 2.06% in Q3 from 1.68% in Q2 2022 as well. As of 10/30, Bank of America Corporation (NYSE:BAC) has a market capitalization of slightly over $290 billion.