The results helped Citigroup lift its return on tangible common equity to 9.1% in the first quarter. CEO Jane Fraser has set a target of 10%-11% by the end of next year.

The Pittsburgh bank has been looking for the right target to acquire at the right time. But top company executives said Tuesday that deals are likely off the table in the near term because of uncertainty about the direction of tariff policy and interest rates.

The Charlotte, North Carolina bank reaped the benefits of volatile markets and net interest income topped analysts' estimates in the first quarter.

Just three months after hailing a positive "sentiment shift" following last November's election, Goldman Sachs CEO David Solomon lamented President Trump's trade war and said "the prospect of a recession has increased."

The Buffalo, New York-based bank also said Monday that the commercial real estate lending market has started showing signs of life, but that the renewed competition is crimping its loan growth.

Equity-trading revenue rose 27% from a year earlier to $4.19 billion for the first three months of the year.

Lower credit costs and better expense control helped the San Francisco-based titan offset the impact of lighter-than-expected revenue.

The chief executives at four of the nation's largest banks weighed in on what evolving trade policies mean for their businesses and the U.S. economy. "I think you have to be a little bit pessimistic here," said Bank of New York Mellon CEO Robin Vince.

The JPMorgan Chase CEO said Friday that recent turmoil in the bond market highlights the need for more capital and liquidity flexibility.

Bank of New York Mellon's earnings blew past Wall Street's expectations, but CEO Robin Vince said the bank is bracing for long-lasting uncertainty.