US Banks Q3/2025: When Wall Street Picks Up Speed Again

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After more than a year and a half of turbulence with high interest rates and volatile markets, US banks entered Q3/2025 in rare form.

Revenue from investment banking and trading surged double digits, global M&A exceeded 1,000 billion USD…

… while the US stock market continuously hit new highs - creating a bumper quarter for Wall Street.

From JPMorgan to Goldman Sachs, most of the “big guys” far exceeded profit expectations, thanks to the strong recovery in advisory, trading, and asset management activities.

• Goldman Sachs recorded a 37% profit increase,

• JPMorgan up 12%,

• while Morgan Stanley broke out to 45% — numbers reminiscent of the pre-pandemic boom.

On Main Street, credit quality and consumer financial health remain stable.

• Wells Fargo and Bank of America both reported increased profits, with non-performing loan ratios even lower than the same period last year.

• “Consumers and small businesses remain resilient,” JPMorgan's CFO noted.

But alongside that is a cautious mindset. Jamie Dimon, David Solomon, and Jane Fraser all warned of “asset bubble risks” as valuations are pushed up too quickly, while inflation and tariffs remain unknowns.

→ Q3/2025 is thus a two-sided picture: record profits, but clearly defensive sentiment.

In today's article, Viet Hustler will go over the full picture of the US banking sector in Q3/2025 with readers - from the dealmaking and trading fever to the cautious warnings from CEOs.

1. Overview of the US Banking Sector Q3/2025

2. JPMorgan Chase – When Trading Takes the Throne

3. Bank of America – Dealmaking Fever

4. Wells Fargo – New Era of Growth

5. Morgan Stanley – Stock Trading as the Main Driver

6. Goldman Sachs – Bank of Big Deals

7. Citigroup – Accelerating on All Fronts