
America’s biggest banks are set to post a jump in profits to $31bn for the final three months of 2024 as Donald Trump’s election victory sparked a jolt of trading activity on Wall Street and dealmaking activity picked up.
Earnings of the biggest six US banks by assets — JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley — are forecast to have increased 16 per cent from the same quarter a year earlier, after excluding nearly $10bn in payments lenders made to the federal deposit insurance fund at the end of 2023 to cover the costs of that year’s regional bank failures, according to data from Bloomberg.