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It’s been on the cards for quite a while, and many analysts were saying that it was only going to be a matter of time. In August this year, Bank of America briefly surpassed Citigroup in market value in “intraday trading”, but Citigroup soon bounced back to secure the leading position. Now again, Charlotte, North Carolina-based Bank of America has surpassed the mighty Citigroup to become the world’s largest bank – by market value. This means, while Citigroup’s market capitalisation totaled $243.52 billion (based on reported shares outstanding), Bank of America’s market capitalization totalled $243.71 billion.

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Source:- IIPM Editorial

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