US banks report solid earnings
Strong trading results, rather than lending, was the driving force behind solid earnings reported by large US banks, as executives expressed measured optimism about the prospects for President Donald Trump's pro-growth agenda.
JPMorgan Chase and Citigroup reported big jumps in first-quarter net income compared with the same period of last year, while Wells Fargo continued to feel the effects of a fake accounts scandal and reported flat profits, missing analyst estimates for revenues.
Comments