Net income was $6.2 billion, 12% lower than 1Q22’s $7.1 billion and much lower than 2Q21 of $9.2 billion.
Its revenue of $22.7 billion was slightly lower when compared to $23.2 billion in 1Q22 and $1.2 billion higher when compared to 2Q21. When it released its 2Q22 results, its share fell 2% as revenue fell shy of expectations. Bank America’s ROE and CET1 ratios are the weakest on this list. 2) Bank of America (NYSE:BAC)īAC is Warren Buffett’s second largest holding after Apple with an estimated 1.01 billion shares or a disclosed stake of 12.4% as of March’22 valued at more than $30 billion. Its Corporate and investment banking division also saw income declining to $3.73 billion, much lower than the $4.39 billion recorded in 1Q22 and $5.02 billion recorded in 2Q22 as investment banking and fixed income revenue declined. This was also much higher than 2Q21’s levels. Loans increased from $1.07 trillion in 1Q22 to $1.10 trillion in 2Q22 off the back of higher consumer loans, credit card loans and wholesale loans. Total assets decreased from $3.95 trillion in 1Q22 to $3.84 trillion in 2Q22 but was still much higher than 2Q21’s level of $3.68 trillion. However, it was much lower than 2Q21 of $11.9 billion as there was a release of reserve in 2Q21 while JPM increased its reserves for bad debt by about $400 million in 2Q22. Consequently, net income of $8.6 billion was higher than 1Q22’s $8.3 billion. Its revenue of $31.6 billion was stable when compared to 1Q22 and $0.2 billion higher when compared to 2q21. When it released its 2Q22 results, its share fell 3.5% as it fell short of expectations.
JPM is the world’s largest bank both in terms of market capitalisation and in terms of total assets with $3.84 trillion. The key metrics of these banks are summarised in the table below.
Based on this list, we have identified our Top 5 US banks and will elaborate why we think these 5 US banks which in total account for nearly $900b in market capitalisation, are the best US banks to buy: Best US Bank Stocks to buy US Bank Stock
0 kommentar(er)
