Wells Fargo & Co. Is the Earth’s Most Valuable Bank

Lender rides relatively simple business lines to title of bank with world’s largest market capitalization

Quick: Can you name the most valuable bank in the world?

It isn’t who you think.

San Francisco-based Wells Fargo & Co. recently surpassed Industrial & Commercial Bank of China Ltd. as the lender with the largest market value in the world. Now, Wells Fargo’s market capitalization is approaching $300 billion, a first for a U.S. bank—and...