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US banks post record Q2 profits, JPMorgan cap $937B

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2026-07-27 10:32 UTC → 2026-07-27 10:33 UTC · added ~~removed~~

July 2026 Q2 earnings underscored the resilience of the U.S. banking sector. The five largest banks generated $49 billion in profit, with JPMorgan posting a record $21.2 billion net income and its market capitalization climbing to roughly $937 billion—now surpassing the combined valuation of Bank of America, Citigroup and Wells Fargo (about $918 billion) and edging toward the $1‑trillion mark. Morgan Stanley posted record revenue and a 69 % jump in equities‑trading revenue, boosted by the SpaceX IPO. JPMorgan CEO Jamie Dimon warned that the extraordinary profit reflected “over‑earning” and highlighted the surge in corporate AI spending, projected to reach about $1 trillion next year. Regional lenders such as U.S. Bancorp, PNC, Citizens and Regions kept loan‑balance growth near 7 % YoY and saw advisory revenue rise roughly 55 % as IPO activity rebounded. Consumer‑credit metrics continued to improve, with JPMorgan’s net charge‑off rate falling to 3.34 % and Bank of America’s credit‑card charge‑off rate slipping to 3.55 %. Delinquencies declined and deposit balances rose across income groups, supporting the view that consumer spending remains robust despite lingering inflation concerns. Late‑July data confirmed JPMorgan’s market ~~cap~~ value at approximately $937 billion, ~~reinforcing investor confidence across traditional banking, emerging crypto infrastructure, and niche biotech~~ outpacing the combined worth of its three nearest U.S. rivals and ~~insurance sectors.~~ widening the gap that has been growing since the first half of 2025.

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