Perhaps, although he doesn't seem as well known, even among SFists, in the US as some other authors. However, when I say broad popularity in the UK, I mean in the entire literate population, not just SF, as his non-SF books are also highly regarded there, while fairly unknown in the US.
If you go into an American book store, you may find a couple of Banks books in the SF section, if it's a large and intelligent store. In my brief experience trying this, if you do the same in a British book store, you'll generally find his entire bibliography, SF and non.
