The bank’s fourth-quarter earnings are due on Jan. 15, a chance for the chief executive and her team to update investors on their turnaround effort.

Some of Wall Street’s biggest banks reported a surge in profit today on the back of a rebound in dealmaking and strengthening equity markets toward the end of last year. JPMorgan Chase, the US’s biggest lender,

Follow live coverage and analysis of earnings from Wells Fargo, JPMorgan Chase, Citigroup, Goldman Sachs, Bank of America, Morgan Stanley, and BlackRock.

JPMorgan notched a record profit of $58.5 billion, up from $49.6 billion in 2023, America’s biggest bank reported on Wednesday. Goldman Sachs said its profits soared to $14 billion in 2024, compared to $8.5 billion a year earlier.

Citigroup cut its closely watched profitability target in 2026 as it tackles rising regulatory expenses and, at the same time, announced a $20 billion share buyback program.

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This is a good time to be a trader. Revenue from big Wall Street desks dealing in stocks, bonds and other instruments surged in the fourth quarter from a year ago. [Trading revenue at Citigroup](

Shares rose 3.6% in premarket trading. Citi, one of the nation’s largest banks, has been pursuing a turnaround strategy under CEO Jane Fraser, who has sold off some business and reorganized the company around five core business units.

Despite Citi lagging behind its rivals on return to tangible equity, about 70 per cent of Wall Street analysts have assigned the bank a “buy” rating. “The outcomes for Jane are about as wide ...

Wall Street banks JPMorgan Chase, Goldman Sachs and Citigroup notched up strong rises in profits at the end of last year, powered by a boom in trading and dealmaking. JPMorgan’s net earnings rose 50 per cent per cent to $14bn,

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Some of Wall Street’s biggest banks reported a surge ... stronger performance in our businesses,” said Jane Fraser, Citi’s chief executive, in a statement. “Our net income was up nearly ...