Transaction Banking 2024 in numbers

January 2025

After the US banks announced their 4Q 2024 results last week, there appeared to emerge a new winner in the Transaction Banking space.


With $18.1 billion of revenues, JP Morgan Chase displaced its American counterpart, Citi which reported a year of $14.53 billion in revenues as the largest US Transaction Bank. This 10% contribution by the bank’s Payments business to its overall $180.1 billion of total revenues was a significant growth from a 6% contribution in the previous year. The 4-year CAGR of JPM’s Payments business now stands at 36.59% while the Citi’s, Treasury and Trade Solutions (TTS) and Bank of America’s Global Transaction Services (GTS) stand at 6.49% and 8.7% respectively. BoA’s GTS business witnessed a decline in 2024 revenues from $11.42 billion in 2023 to $10.5 billion in 2024.

Results of European Transaction Banking behemoth, HSBC is due to be announced in February 2025.