An economic, cap-weighted index composed of 24 exchange-listed banking companies. The index, founded and is traded in Philadelphia Stock Exchange, acts as the benchmark of the banking, insurance, and financial sectors.

The KBW Bank Index is also called Keefe Bank Index or KBW Bank Sector Index. The said index, which began trading options in 1992, is named after banking industry authority Keefe, Bruyette, and Woods.