Six Banks Seen Reaping $157 Billion on Trump’s Return
President Donald Trump takes the Oath of Office in the rotunda of the US Capitol in Washington on Jan. 20.
Photographer: Chip Somodevilla/Getty Images/BloombergThe six giants of US banking are expected to post their second-highest annual profit ever — a $157 billion haul — after riding out President Donald Trump’s dramatic policy changes.
Corporate dealmaking surged to a near-record, bolstered by his administration’s more business-friendly tone. Trading clients repeatedly repositioned portfolios in response to his abrupt announcements. Advances in artificial intelligence helped many lenders keep a lid on costs.