US Bank

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US Bank (NYSE: USB) is a financial services company headquartered in Minneapolis, Minnesota. It is a subsidiary of US Bancorp, a diversified financial services holding company. US Bank offers a wide range of banking, investment, mortgage, trust, and payment services to individuals, businesses, governmental entities, and other financial institutions. US Bank reported net interest income (NII) of USD 17.4 billion and non-interest income of USD 10.6 billion in FY2023 (year ended December 2023).

The company operates under three business segments : 1) Wealth, Corporate, Commercial, and Institutional Banking (~36% of NII) services a range of clients, including wealth management, middle-market, large corporate, government, and institutional clients; 2) Consumer and Business Banking (~49%) includes consumer banking and lending and small business banking services offered through various channels such as banking offices, telephone, online, mobile, and intermediary relationships; 3) Payment Services (~16%) includes consumer and business credit cards, stored-value cards, debit cards, corporate, government, and purchasing card services, as well as merchant processing.

US Bank acquired MUFG Union Bank's regional banking franchise from Mitsubishi UFJ Financial Group, Inc. in December 2022 and completed integrating its systems and account conversions from Union Bank in 2023. US Bank reported that 98% of its operations were sourced from renewable energy as of 2022.

HQ Location:
800 Nicollet Mall Minneapolis MN USA
Founded year:
1863
Employees:
10,000+
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