๐น Revenue: $26.5B (Est. $26.6B) ๐ก; +4% YoY
๐น EPS: $0.89 (Est. $0.85) ๐ข; +7% YoY
๐น NII: $14.67B (Est. $14.59B) ๐ข; +7% YoY
Guidance:
๐ธ Expects to deliver operating leverage in H2 2025
๐ธ Reaffirmed Q4 Net Interest Income outlook: $15.5Bโ$15.7B
Consumer Banking
๐น Revenue: $10.8B; UP +6% YoY
๐น Net Income: $3.0B
๐น Average Loans: $319B; UP +2% YoY
๐น Credit/Debit Card Spend: $244B; UP +4% YoY
๐น Consumer Investment Assets: $540B; UP +13% YoY
Global Wealth & Investment Management (GWIM)
๐น Revenue: $5.94B (Est. $5.96B)๐ก; UP +7% YoY
๐น Net Income: $1.0B
๐น Asset Management Fees: $3.6B; UP +9% YoY
๐น Client Balances: $4.4T; UP +10% YoY
๐น AUM: $2.0T; UP +13% YoY
Global Banking
๐น Revenue: $5.69B; DOWN -6% YoY
๐น Net Income: $1.7B
๐น Investment Banking Fees: $1.43B (Est. $1.27B) ๐ข
๐น Average Deposits: $603B; UP +15% YoY
Global Markets
๐น Trading Revenue (ex-DVA): $5.38B (Est. $4.94B) ๐ข; +15% YoY
๐น FICC (ex-DVA): $3.25B (Est. $2.96B) ๐ข; +19% YoY
๐น Equities (ex-DVA): $2.13B (Est. $2.06B) ๐ข; +10% YoY
๐น Net Income: $1.5B
๐น Total Revenue: $6.0B; UP +10% YoY
Other Metrics
๐น Loans $1.15T, (Est. $1.12T) ๐ก
๐น Total deposits $2.01T, (Est. $1.99T) ๐ก
๐น Net Interest Income (FTE): $14.82B (Est. $14.84B) ๐ก
๐น CET1 Ratio (Standardized): 11.5% (Est. 11.7%) ๐ด
๐น Net Income: $7.1B; UP +3% YoY
๐น Provision for Credit Losses: $1.59B; UP from $1.48B QoQ
๐น Net Charge-Offs: $1.53B; Flat QoQ
๐น Noninterest Expense: $17.2B; UP +5% YoY
๐น Book Value/Share: $37.13; UP +8% YoY
๐น Tangible Book Value/Share: $27.71; UP +9% YoY
๐น ROE: 10.0%; ROTCE: 13.4%
๐น Returned $7.3B to shareholders; includes $5.3B in buybacks
CEO Commentary
๐ธ โWe delivered another solid quarter, with earnings per share up 7% from last year.โ
๐ธ โConsumers remained resilient, with healthy spending and asset quality.โ
๐ธ โWe saw good momentum in our markets businesses.โ
๐ธ โReturned 40% more capital to shareholders YTD vs. last year.โ