US earnings latest: Big banks set to report bumper profits

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Financial Times 15h ago

US earnings latest: Big banks set to report bumper profits - Financial Times

Quick Summary:

The comparison will be flattered by a $2.9bn expense in the fourth quarter of 2023 related to payments made to replenish the US federal deposit insurance fund.

The KBW bank index finished the year up over 30 per cent, compared with a rise of just over 20 per cent for the S&P 500.

Shares in the big US banks had a strong year in 2024, especially after the presidential election.