Tuesday, July 24, 2018

The Big 4 US Banks Generated June 2018 Quarter (The Second Month of the Trump Tax Cuts Act) Total Pretax Income (PTI) of $32.134 Bil, an Increase of Only 1% Over Their June 2017 Quarter Total PTI of $31.687 Bil, a Significant Earnings Growth Deceleration From Their 8% Total PTI Increase in the March 2018 Quarter Over the March 2017 Quarter ........................................................................................

From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations and the US GAAP After-Tax Net Income (Loss) From Continuing Operations for the June 2018, the June 2017, the March 2018 and the March 2017 Quarters for all of what are considered the Big 4 US Banks.
US US US US US US US US
GAAP GAAP GAAP GAAP GAAP GAAP GAAP GAAP
Pretax Pretax Net Net Pretax Pretax Net Net
Income Income % Income Income % Income Income % Income Income %
(Loss) (Loss) Change (Loss) (Loss) Change (Loss) (Loss) Change (Loss) (Loss) Change
June Qtr June Qtr Better June Qtr June Qtr Better March Qtr March Qtr Better March Qtr March Qtr Better
Big 4 US Bank 2018 2017 (Worse) 2018 2017 (Worse) 2018 2017 (Worse) 2018 2017 (Worse)
mils $ mils $ mils $ mils $ mils $ mils $ mils $ mils $
JPMorgan Chase     10,572       9,749 8%       8,316       7,029 18%     10,662       8,341 28%       8,712       6,448 35%
Bank of America       8,498       8,121 5%       6,784       5,106 33%       8,394       7,320 15%       6,918       5,337 30%
Wells Fargo       7,119       8,139 -13%       5,309       5,894 -10%       6,701       7,858 -15%       5,327       5,725 -7%
Citigroup       5,945       5,678 5%       4,501       3,883 16%       6,090       5,981 2%       4,649       4,118 13%
Total all 4     32,134     31,687 1%     24,910     21,912 14%     31,847     29,500 8%     25,606     21,628 18%