Big US Banks See Profits Surge

The transcript discusses the strong performance of banks in 2024, highlighting it as the second most profitable year compared to 2021. It explores common themes such as volatility and trading, influenced by rate cuts and the US election. The discussion also covers the expected easing of regulatory burdens, which could impact capital requirements. Specific banks like City, Goldman Sachs, and Wells Fargo are highlighted, with insights into their performance and future expectations.

What was the significance of JP Morgan's annual profit mentioned in the text?

What challenges does City face in its transformation according to the discussion?

What were the sentiments expressed by Goldman and JP Morgan regarding their future?