US banks post record quarterly resultsOn the day that the updated data on US inflation were released (below expectations) and the new chairman of the Federal Reserve, Kevin Warsh, speaking before the Chamber for the first time, the tensions in the Middle East between the United States and Iran are still weighing heavily on the markets. These tensions are fueling investor concerns and continuing to push up the price of crude oil. This volatility tends to favor the large investment banks.
The day, not surprisingly, was characterised by the wealth of indications coming from the corporate front, with the large American banks who have spread the quarterly results. From JP Morgan a Bank of America passing through Goldman Sachs e Wells Fargo, the numbers indicate strongly growing profitsThe news, however, failed to bolster the Italian banking sector, which was in decline throughout Tuesday afternoon. Let's take a detailed look at the figures for the four US giants.
Goldman Sachs, SpaceX and Alphabet also had an impact
Goldman Sachs posted Revenue of $20,34 billion in the second quarter of 2026, up 39% compared to $14,58 billion in the same period in 2025. Net income jumped 78% to $6,63 billion, or $20,98 per share. In the same period last year, net income was $3,72 billion, or $10,91 per share.
The result was supported in particular by the revenues of trading activities on stock markets, equal to $7,42 billion (+72% year-over-year), and the fixed income, currencies and commodities segment recorded revenues up 32%, to $4,59 billion. "Our record performance this quarter reflects the strength of our global platform," commented Goldman Sachs CEO, David Solomon In a statement, "We are resolutely pursuing our long-term growth strategy in the Global Banking Markets and Asset & Wealth Management divisions, and given the level of deals in our pipeline, we expect this virtuous cycle of activity to continue."
Goldman Sachs, with the results of the equity division, has thus established a new all-time record among all banks. In addition, the investment banking division, which led the second quarterSpaceX's record IPO and the capital increase of A, more than doubled its equity underwriting revenues to $985 million (+130% year-over-year). Overall, Investment banking fees rose 55% to $2,84 billion Compared to $2,2 billion a year earlier, this increase was also supported by increased bond issuance and a strengthening of its advisory business. Goldman Sachs advised on over $1.000 trillion in mergers and acquisitions announced in the first half of 2026.
BofA driven by strong trading activity
Bank of America reported a rise in profits in the second quarter, driven by a strong trading activity, fueled in turn by the volatility of global markets which prompted customers to reorganize their portfolios. profits Earnings reached $9,1 billion, or $1,21 per share, in the three months ended June 30, compared to $7,2 billion, or 90 cents per share, a year earlier (+27%).
Markets remained volatile during the quarter under review due to escalating geopolitical tensions linked to the difficulties encountered by the United States and Iran in reaching a peace agreement. Volatility tends to favor large investment banks, as their trading desks generate higher revenues due to increased client activity. Bank of America's sales and trading revenues stood at $7,1 billion in the second quarter, up from $5,3 billion a year earlier. The CEO had forecast a 15% increase in trading revenue for the quarter under review.
JP Morgan, Dimon: "Subsurface risks are like tectonic plates."
JP Morgan closes the second quarter with a profit up 41% to $21,16 billion. The revenues are rose 28% to $57,35 billion. "The American economy has demonstrated remarkable resilience, supported by corporate investment. This strength is supported by several factors, including capital investment driven by artificial intelligence, fiscal stimulus, and the benefits of more efficient regulation," said the CEO. Jamie Dimon underlining however how “various risks are moving underground like tectonic plates”These include geopolitical tensions and conflicts, persistent inflation, large global deficits and high asset prices. “We cannot predict how these forces will ultimately evolve: they may remain manageable, but they may also cause serious disturbances when they move or collide,” Dimon pointed out.
Wells Fargo boosted by wealth management and investment banking
Wells Fargo's profit jumped in the second quarter thanks toincrease in fees from wealth management and investment banking reaching $6,41 billion, up 17%, or $2 per share.
In the same period last year, net income was $5,49 billion, or $1,60 per share. Wells Fargo was released last year from a long-term regulatory penalty that limited asset growth following a series of scandalsThe removal of the $1.950 trillion asset limit allowed the bank to accelerate its growth plans. Net interest margin increased 5% to $12,32 billion in the quarter compared to the previous year, as expected. Revenue grew 9% to $22,6 billion.
Wells Fargo reaffirmed its full-year net interest margin forecast of approximately $50 billion, of which approximately $2 billion would come from market activity. "We are clearly benefiting from the overall economic strength we see in the United States, but the investments that we are carrying out and the our greater operational discipline have also driven strong momentum in our key business indicators across all operating segments,” said the CEO. Charlie Scharf in the statement released on Tuesday.
