JPMorgan, Citigroup and Wells Fargo Post Record $56.5 Billion in Q3 Net Interest Income
- JPMorgan Chase, Citigroup and Wells Fargo reported combined third-quarter net interest income (NII) of $56.5 billion, marking their fifth consecutive quarter of record NII.
- Consumer and corporate borrowing remained resilient despite elevated interest rates, supporting banks’ lending income.
- JPMorgan expects net interest income to increase further in 2027, challenging earlier expectations of a decline.
- All three banks reported lower nonaccrual loans and said borrowers generally remain capable of servicing their debt.
- Banks remain cautious about risks from geopolitical tensions in Ukraine and the Middle East, persistent inflation and elevated oil prices. Bank of America is scheduled to report Q3 results on Wednesday.
$JPM $WFC.US $SPY
- JPMorgan Chase, Citigroup and Wells Fargo reported combined third-quarter net interest income (NII) of $56.5 billion, marking their fifth consecutive quarter of record NII.
- Consumer and corporate borrowing remained resilient despite elevated interest rates, supporting banks’ lending income.
- JPMorgan expects net interest income to increase further in 2027, challenging earlier expectations of a decline.
- All three banks reported lower nonaccrual loans and said borrowers generally remain capable of servicing their debt.
- Banks remain cautious about risks from geopolitical tensions in Ukraine and the Middle East, persistent inflation and elevated oil prices. Bank of America is scheduled to report Q3 results on Wednesday.
$JPM $WFC.US $SPY