Overview
- Bank of America posted Q4 net income of $7.6 billion, or $0.98 per share, on $28.37 billion in revenue, with debit and credit card spending up 6% and 90‑day credit card delinquencies down to 1.27%.
- Wells Fargo reported Q4 profit of $5.36 billion, or $1.62 per share, missing EPS estimates as severance costs totaled $612 million, and said the lifted Fed asset cap positions it to grow even as it guided 2026 net interest income to about $50 billion.
- Citigroup’s Q4 profit fell 13% to roughly $2.5 billion after an approximately $1.2 billion pre‑tax loss tied to the sale of its Russia unit, even as investment banking fees rose 35% to $1.29 billion.
- JPMorgan’s prior‑day results showed $13 billion in Q4 net income and a $2.2 billion reserve build for the Apple Card portfolio that cut about $0.60 from EPS, alongside 2026 guidance for around $103 billion in total net interest income and about $105 billion in adjusted expenses.
- Shares of BofA, Wells Fargo and Citi fell after the releases, and executives warned that President Trump’s proposed one‑year 10% cap on credit‑card APRs and Justice Department actions involving the Fed could restrict credit and threaten monetary‑policy independence.