Quarterly ROE of U.S. banking industry 2003-2023

The return on equity of the United States commercial banking industry grew by more than two percentage points in the first quarter of 2023, the single biggest increase since early 2021. After holding a relatively stable value between 2003 and 2006, the ROE went through a sharp decline due to the financial crisis in 2007. The lowest ROE was measured in the fourth quarter of 2008, at minus 21.87 percent. After 2009, it remained relatively stable, although it did not reach its pre-2007 value. After another sharp decrease during the COVID-19 pandemic, it climbed its way back up to 14.7 percent in the first quarter of 2021. After that, however, the ROE of the U.S. banking industry started to fall again until the third quarter of 2022. As of the first quarter of 2023, it stood at 12.9 percent.