While JPMorgan and Citi trumped analysts’ profit estimates, scandal-hit Wells Fargo’s results were clouded by expenses tied to past misconducts.
Overall, the U.S. banking sector is benefiting from a cut in corporate tax rates, hikes in interest rates and a growing economy that is driving demand from borrowers while holding down loan loss rates.
Following is a snapshot of bank earnings so far:
(GRAPHIC: U.S. big banks second quarter earnings per share - tmsnrt.rs/2NOKWn4)
(GRAPHIC: U.S. big banks Q2 trading revenue - tmsnrt.rs/2LcXwut)
(GRAPHIC: Second quarter loans - tmsnrt.rs/2LfCVpF)
Reporting and Graphic by Diptendu Lahiri in Bengaluru