US Banks to Report Higher Profits as Investment Banking Rebounds
Major U.S. banks are expected to report higher profits this quarter, and the main reason is a surprising comeback in investment banking. After months of slow deal activity due to global tensions and uncertainty, big banks like JPMorgan Chase, Bank of America, and Citigroup are now seeing signs of recovery. Trading departments are also performing well. With economic and political situations still unpredictable, more clients are turning to banks for help managing risk. This has helped boost trading revenues, which are expected to continue growing in the near future. Another area that’s doing well is net interest income; this is…