The Biggest U.S. Banks Bested Forecasts in Q2 [ANALYSIS]
In their latest earnings reports, the biggest banks in the United States are reporting eye-popping levels of profitability that surprise even Wall Street analysts.
JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), Bank of America Corp (NYSE:BAC) and Wells Fargo & Company (NYSE:WFC) have posted big profit increases that bested analyst expectations. They gained from better credit quality, the absence of heavy provisions that had marred prior quarters, and strong investment banking.
