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. Also see Strong Quarter For Largest Banks: Morgan Stanley, JPMorgan, Citigroup Large banks bested analyst expectations According to Goldman Sachs Group, Inc. (NYSE:GS) over 90% of banks that have reported so…