The quarterly net incomes of the U.S.' five largest banks all declined substantially in 2022 when compared to 2021. U.S. Bancorp seemed to be the most able to maintain a steady growth rate, particularly between 2012 and 2019. Bank of America, on the other hand, had notable fluctuations over the years. Despite the differences, there seems to be one thing in common: After a sharp increase in four out of the five largest U.S. banks' quarterly income growth rate in the first quarter of 2021, there was a steady decline throughout the rest of 2021. As of 2022, none of the observed banks managed to produce a positive income growth rate. In 2023, however, JPMorgan Chase, Bank of America, and Wells Fargo all performed significantly better.
Percentage change on previous year of net income the five largest banks in the United States from 1st quarter 2010 to 2nd quarter 2023
Characteristic
JPMorgan Chase
Bank of America
Wells Fargo
Citigroup
U.S. Bancorp
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Macrotrends, & Statista. (July 25, 2023). Percentage change on previous year of net income the five largest banks in the United States from 1st quarter 2010 to 2nd quarter 2023 [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1097056/biggest-us-bank-income-growth-rate-per-quarter/
Macrotrends, und Statista. "Percentage change on previous year of net income the five largest banks in the United States from 1st quarter 2010 to 2nd quarter 2023." Chart. July 25, 2023. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1097056/biggest-us-bank-income-growth-rate-per-quarter/
Macrotrends, Statista. (2023). Percentage change on previous year of net income the five largest banks in the United States from 1st quarter 2010 to 2nd quarter 2023. Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1097056/biggest-us-bank-income-growth-rate-per-quarter/
Macrotrends, and Statista. "Percentage Change on Previous Year of Net Income The Five Largest Banks in The United States from 1st Quarter 2010 to 2nd Quarter 2023." Statista, Statista Inc., 25 Jul 2023, https://www.statista.com/statistics/1097056/biggest-us-bank-income-growth-rate-per-quarter/
Macrotrends & Statista, Percentage change on previous year of net income the five largest banks in the United States from 1st quarter 2010 to 2nd quarter 2023 Statista, https://www.statista.com/statistics/1097056/biggest-us-bank-income-growth-rate-per-quarter/ (last visited August 24, 2024)
Percentage change on previous year of net income the five largest banks in the United States from 1st quarter 2010 to 2nd quarter 2023 [Graph], Macrotrends, & Statista, July 25, 2023. [Online]. Available: https://www.statista.com/statistics/1097056/biggest-us-bank-income-growth-rate-per-quarter/