Investment banking revenues at Wall Street’s biggest banks are expected to top $9bn in the third quarter for the first time since 2021, as dealmaking finally shows signs of flourishing under the Trump administration.
Analysts expect quarterly revenues reported this week from advisory work and equity and debt underwriting at JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley to total $9.1bn, according to estimates compiled by Bloomberg.
That would mark an increase of 13 per cent from a year ago, and a 50 per cent improvement on the lows of 2023, although it is still well down on the $13.4bn the banks pulled in during the final quarter of 2021’s boom.
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