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Earnings Increase For The Big Banks

ByDavid Dyer
Published 08/01/2012, 06:05 AM
Updated 07/09/2023, 06:31 AM
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 (BAC) (+$1.81 billion) and Morgan Stanley (MS) (+$685 million) reported the largest sequential QoQ increases. Capital One (COF) (-$1.31 billion) and Goldman Sachs (GS) (-$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 (C) ($2.95 billion), Bank of America ($2.46 billion), and U.S. Bancorp (USB) ($1.42 billion) were next. Below $1 billion in quarterly net income were Goldman Sachs ($962 million), Morgan Stanley ($591 million), PNC Financial Services (PNC) ($546 million), and BNY Mellon ($496 million). Capital One was last and #10 with quarterly net income of a near break-even $93 million.
Largest USA Banks Quartely Net Income
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 (WFC) 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 By Return On Assets

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