US banking giants capture biggest share of industry profits since 2015

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The story "US banking giants capture biggest share of industry profits since 2015" was covered 13 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 13h ago

US banking giants capture biggest share of industry profits since 2015 - Financial Times

Quick Summary:

In his annual shareholder letter, JPMorgan chief executive Jamie Dimon called out tech giant Apple as “effectively” acting as a bank by holding, moving and lending money.

The data come from earnings reported to the Federal Deposit Insurance Corporation, a banking regulator, and only relate to profits reported by the US banking entities.

Bob Diamond, the former head of Barclays who now runs an investment firm, told the Financial Times earlier in December he believed the number of US banks could more than halve in the next three years.