JPMorgan Chase Leads US Banks in Q3 2025 Equities Trading Revenue
In the third quarter of 2025, Chase led major US banks with the highest revenue from equities trading, reporting a significant profit increase that surpassed analysts' expectations. The bank's strong performance was driven by robust trading results in New York.
Chase's profit surged 12% annually to $14.4bn, with revenue up 9% to $47.2bn. The bank's trading divisions maintained their strong performance from the first half of the year, with market volatility providing opportunities for US investment banks to thrive.
Goldman Sachs also reported impressive growth, with its investment banking arm seeing fees jump 42% to $2.7bn. Morgan Stanley and Chase reported revenue increases of 20% and 18% respectively. Bank of America's revenue increased 10.8% to $28.2bn. Citigroup's revenue soared to $22bn, surpassing expectations of $21bn.
The Trump administration's deregulatory stance boosted deal making, contributing to the surge in Wall Street banks' profits. Chase's strong performance, along with the robust growth of its competitors, indicates a revival in deal making and the strength of trading desks.
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