{
  "id": 18734719,
  "title": "Here's How These 6 Big Bank Stocks Make Their Money",
  "url": "https://urgent.news/2026/11/07/heres-how-these-6-big-bank-stocks-make-their-money",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-07T14:45:00.000Z",
  "source": {
    "name": "Motley Fool",
    "slug": "motley-fool",
    "url": "https://www.fool.com/investing/2026/11/07/how-these-6-big-bank-stocks-make-their-money/?source=iedfolrf0000001"
  },
  "original_language": "en",
  "account": "JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs, and Morgan Stanley are six of the largest banks in the United States. While they share the common goal of generating profits, each bank employs a different strategy to achieve this goal. Some banks focus on traditional lending, while others rely on investment banking, trading, and managing money for wealthy clients.\n\nJPMorgan Chase reported a 15% increase in asset management fees, reaching $5.9 billion. Investment banking fees also rose by 13%, generating $3 billion in fees. Card income surged by 25%, reaching $1.43 billion, thanks to higher annual fees. Additionally, revenue from Card Services & Auto increased by 15% to $8.28 billion. The bank's auto leasing business is also contributing to growth, with operating lease income reaching $1.2 billion, up from $987 million the previous year.\n\nBank of America's wealth management business has become a significant source of growth, with global wealth and investment management generating $7.1 billion in Q3 revenue, a 13% increase. Global Transaction Services, which helps companies manage payments and financial transactions, saw revenue increase by 11% to $3.04 billion. While investment banking fees in the Global Banking segment declined, consumer banking generated $3.52 billion in net income on $11.6 billion in revenue.\n\nWells Fargo, on the other hand, relies heavily on lending and deposits. During Q3, average loans and deposits each increased by 11%, pushing net interest income up by 5% to $12.52 billion. The bank's consumer banking and lending segment saw a 5% increase in revenue to $10.66 billion, with net income jumping 21% to $2.76 billion. Wells Fargo's net interest margin declined due to the expansion of its loan portfolio, even as overall lending business expanded.\n\nCitigroup may be best known for its consumer banking operations, but its biggest profit engine is its services division, which helps corporations and financial institutions manage cash, move money internationally, and conduct financial transactions. Services revenue increased by 15% to $6.6 billion, while net income jumped by 27% to $2.64 billion. Corporate cash management and wealth management are proving to be powerful sources of earnings for Citigroup.\n\nGoldman Sachs relies less on traditional consumer banking and instead focuses on helping corporations raise capital, advising on transactions, and trading financial securities. Equity trading was especially lucrative, with equities revenue reaching $6.44 billion, accounting for more than one-third of the company's total revenue. The Global Banking & Markets division generated 72% of total net revenue.\n\nMorgan Stanley has a substantial presence on Wall Street, with wealth management becoming a defining part of its business. Q3 wealth management revenue reached a record $9.07 billion, a 10% increase from the previous year. The division generated a pretax profit margin of 30.4%, aided by record asset management revenue and higher interest income. Loan balances in the division increased to $201 billion from $174 billion, and the bank attracted $232 billion in net new assets during the quarter.",
  "summary": "From card fees and wealth management to equities trading, here's where each of the six biggest banks made its money last quarter.",
  "key_points": [
    "JPMorgan Chase's asset management fees up 15% to $5.9 billion",
    "Bank of America's wealth management revenue grew 13% to $7.1 billion",
    "Goldman Sachs' equities revenue reached $6.44 billion, 33% of total revenue"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Nasdaq Markets",
        "title": "Here's How These 6 Big Bank Stocks Make Their Money",
        "url": "https://urgent.news/2026/11/07/heres-how-these-6-big-bank-stocks-make-their-money-18735829",
        "published": "2026-11-07T15:05:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}