US banks are on course to report their best year for investment banking since the pandemic, with investors betting it is the start of a prolonged rebound after years of moribund performance.
The five largest US investment banks — JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America and Citigroup — are this week expected to report quarterly investment banking revenues of almost $10bn, according to data compiled by Bloomberg, 13 per cent more than a year earlier.
The performance would lift the lenders’ total investment banking revenues for 2025 to almost $38bn, up 50 per cent from the low point in 2023 when the banks reported just $25bn of revenues and their highest total since 2021.
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