JPMorgan Chase

In 2023, the four giant banks raked in $253 billion in NII , about $80 billion higher than 2021's total. Now, most banks see rate cuts coming, all while they have to pay more on deposits or risk losing customer savings to higher-yielding options. 

Ultimately, firmwide headcount will decline by 60,000 jobs to 180,000 by the end of 2026, Chief Financial Officer Mark Mason said.

JPMorgan Chase closed out the most profitable year in U.S. banking history with its seventh consecutive quarter of record net interest income and a surprise forecast that the windfall may continue this year. 

After being undercapitalized for decades, some minority-led banks finally got large capital infusions in the wake of George Floyd's murder. But higher interest rates have made it harder for them to gather the deposits they need to boost lending substantially.

The company is poised to report quarterly earnings this week that are expected to reveal revenue growth at seven times the average pace of its peers.  

Executives at America's largest banks are making rosier predictions about the financial health of U.S. households than they were a year ago, when their forecasts proved to be overly pessimistic.

After a year marred by the biggest US bank failures since the 2008 financial crisis, the nation's largest lender is on familiar footing — scooping up a rival, reeling in its clients and minting record profits along the way.

JPMorgan Chase and Citigroup were among the banks that voluntarily reported new information this year about the impact of their operations on climate change. The additional disclosures came in advance of new regulations that are expected in 2024 from the Securities and Exchange Commission.

Citigroup, Barclays and Morgan Stanley are just a few of the firms joining JPMorgan in what suddenly feels like a rush into direct lending.

Rewards jumped as the Covid-19 pandemic spurred trading and deals in 2020, eventually setting off a war for talent. They then collapsed last year as rising interest rates put a damper on client activity — a malaise that stretched through 2023.