All eight globally systemically important banks in the United States reported significant increases in revenues and net income for the second quarter of 2026 compared to the same period in 2025. This growth comes despite rising pressures on consumers and real estate borrowers due to elevated inflation, according to a report by Forbes.
Revenue Growth
The banks, including JPMorgan, Bank of America, Citigroup, and Wells Fargo, experienced a mixed performance in net interest margins (NIM). The commercial banks faced flat-to-downward pressure on NIMs compared to the second quarter of 2025. This trend was attributed to sticky deposit betas, as customers shifted funds from low-interest checking accounts to higher-yielding certificates of deposit (CDs). In contrast, trust banks like BNY Mellon and State Street maintained more stable net interest income due to their specialized deposit bases.
Trading and Fees
Trading and investment activities were significant contributors to the revenue growth. Fixed Income, Currencies, and Commodities (FICC) trading desks saw steady volumes, while equity trading performed exceptionally well. Morgan Stanley and Goldman Sachs achieved near-record quarters in equity trading, driven by high institutional trading volumes and active client positioning in technology and macro-driven assets. Additionally, non-interest income from fees sharply increased compared to both the first quarter of 2026 and the second quarter of 2025.
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The strong performance of these banks is likely to bolster investor confidence in the financial sector, particularly in equities and trading-related assets. However, ongoing consumer credit strain could pose risks to future earnings. Investors will watch for upcoming economic data releases that may indicate shifts in consumer spending and credit conditions.