Three largest US banks post record $56.5 billion in lending income
JPMorgan told investors its net interest income should climb further in 2027, a reversal from earlier expectations of falling rates.
By The Carnegie Standard Staff
· 1 min read
Wells Fargo, Citigroup and JPMorgan Chase together took in $56.5 billion of net interest income in the third quarter of 2026, a record for the trio and the fifth quarter in a row that the figure has reached a new peak, Bloomberg reported on October 13, citing company filings released that day.
Borrowing held up as interest rates rose, and JPMorgan told investors it expects its net interest income to be higher still in 2027. That marks a turn from earlier in 2026, when lenders were planning for rate cuts and investor attention centered on outsized trading revenue rather than the business of lending.
Credit quality improved as well. Each of the three banks reported a decline in non-accrual loans, the category on which lenders stop booking interest income, a sign that households and companies are keeping current on debt payments.
Executives still flagged caution, pointing to the wars in Ukraine and the Middle East, persistent inflation and high oil prices. Jeremy Barnum, chief financial officer of JPMorgan, said the bank is "just making sure we're really scrubbing everything" given how many channels borrowers are using to raise capital.
Bank of America was scheduled to report its third-quarter results on October 14.
This story was first reported by Bloomberg.
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