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With Vaccines and Stimulus on the Way, Banks Brighten Their Outlook



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The results showed that JPMorgan’s retail customers have been buying houses and cars. The number of mortgages and auto loans rose 20 percent compared with a year earlier. The bank’s profit from stock trading jumped 32 percent, while earnings from trading in bonds, currencies, commodities and other products rose 15 percent from the same period a year earlier.Citigroup said on Friday that it had released nearly $1.5 billion from its reserves, but it was not enough to raise its quarterly earnings above what it earned in the same period in 2019. The bank reported a profit of $4.6 billion on revenue of $16.5 billion. …

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