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Big Banks, Big Bucks: After a mic-drop Q4 2024, what’s on the menu for Q1 2025?

  • Big banks made a splash last week with their strong Q4 2024 earnings.
  • To keep the earnings streak alive in Q1 2025, FIs might need to refine their strategies — here’s what they could focus on.
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Big Banks, Big Bucks: After a mic-drop Q4 2024, what’s on the menu for Q1 2025?

    The 3’D’ Playbook: Dollars, Deals, and Dreams



    The confetti from New Year’s celebrations has barely settled, but the banking sector is already throwing its own party. This week’s Q4 2024 earnings results have been nothing short of a financial fireworks show, with big banks flexing their muscle in style.

    Leading the charge was J.P. Morgan, reminding everyone why it’s the heavyweight champion of US banking. Profits skyrocketed 50% to $14 billion for the quarter. Revenue? Up 10% to $43.74 billion, contributed by a net interest income of $23.47 billion that exceeded analyst expectations. J.P. Morgan isn’t just making money — it’s making history.

    Citi brought home a solid $2.86 billion in net income for the final 2024 quarter. Its investment banking arm stole the spotlight, with revenue rising 35% YoY to hit $925 million.

    The numbers painted an equally lively picture over at Goldman Sachs, Wells Fargo, Bank of America, and Morgan Stanley.

    Goldman’s profit roughly doubled from a year earlier to $4.11 billion. Revenue soared 23% to $13.87 billion, driven by strong gains in equities and fixed-income trading, along with improved investment banking results. Wells Fargo posted a 47% surge in net income, reaching $5.1 billion, up from $3.45 billion in the same quarter last year, with revenue hitting $20.4 billion. Bank of America delivered $6.67 billion in net income on $25.35 billion in revenue. Meanwhile, Morgan Stanley more than doubled its quarterly profit to $3.71 billion, fueled by a standout performance in its equities trading division, which saw revenue skyrocket 51% to $3.3 billion.

    The Sweet Spot

    Even before the ball dropped on New Year’s Eve, banks were riding a wave of optimism, and here’s why:


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