Local scale still matters in the large markets, where megabanks consistently overperform.
Source: SNL Financial; McKinsey analysis
Note: Megabanks include Bank of America, Citibank, JPMorgan Chase, and Wells Fargo. Regional banks include Bank of Montreal, Branch Banking and Trust, Capital One, Fifth Third Bank, Huntington Bancshares, KeyCorp, Mitsubishi UFJ Financial, PNC Financial Services, Regions Bank, SunTrust Banks, and U.S. Bank.
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Calculated by taking the difference between share of deposits and share of branches, divided by the share of branches for each bank. Values per bank are then averaged using a weighted average by deposit volume. The values are proportions. They were made into integers by multiplying by 100 and rounding.
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