Saturday, August 11, 2012

Big Banks Earnings Increase: JPMorgan, Wells Fargo, Citigroup Most Profitable



Quarterly Net Income

All 10 of the Largest USA Banks reported net income for the QE 6-30-12, reaching an aggregate quarterly net income of $19.1 billion. This is a small increase of +$142 million and +0.75% from the prior QE 3-31-12, but a strong increase of +$9.1 billion and +48% from the prior year QE 6-30-11.

Bank of America (+$1.81 billion) and Morgan Stanley (+$685 million) reported the largest sequential QoQ increases. Capital One (-$1.31 billion) and Goldman Sachs (-$1.15 billion) reported the largest sequential QoQ decreases.

The Billion Dollar Club: JPMorgan Chase led the way at #1 with $4.96 billion in quarterly net income. Wells Fargo was #2 at $4.62 billion. Citigroup ($2.95 billion), Bank of America ($2.46 billion), and U.S. Bancorp ($1.42 billion) were next. Below $1 billion in quarterly net income were Goldman Sachs ($962 million), Morgan Stanley ($591 million), PNC Financial Services ($546 million), and BNY Mellon ($496 million). Capital One was last and #10 with quarterly net income of a near break-even $93 million.



Return on Assets

The 10 Largest USA Banks reported an average return on assets of +0.83% for the QE 6-30-12, which was a small decrease -0.03% from the prior QE 3-31-12 of +0.86%.

The 1%+ Club: U.S. Bancorp and Wells Fargo were the clear leaders with an ROA of +1.60% and +1.30%, respectively. Capital One was #3 at 1.13%. Just below the 1% ROA benchmark was PNC Financial Services at +0.96%. Next were JPMorgan Chase (+0.78%) and BNY Mellon (+0.72%). Further down were Citigroup (+0.55%) and Bank of America (+0.52%). Trailing at #9 and #10 were Goldman Sachs (+0.39%) and Morgan Stanley (+0.31%).



Largest USA Banks Ratings: U.S. Bancorp & Wells Fargo Tops, Goldman Sachs Last

Big Banks Assets Shrink, Capital Strengthens

$XLF $USB $PNC $WFC $BK $BAC $JPM $C $MS $GS $COF

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