The increase in US banking profits is due to rising interest rates, increased lo

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      Three major U.S. banks reported two-hundredths of profit growth on Friday, thanks to economic expansion and falling tax burden. They expect that profits will grow further as long as the current trend continues.
Banks have benefited from strong lending demand in the latest quarter, higher interest rates than financing costs, strong stock market activity, and a favourable business environment provided by the Trump administration.
As a result, the net interest spread of banks has widened. Continuous handling fee income from other major businesses such as customer financing, Enterprise Asset Services and so on will support profit.
In addition, the bank's cost-cutting plan in the wake of the 2007-2009 financial crisis and the tax-cut bill signed into law by U.S. President Trump last year also provided support. Together, these factors can save billions of dollars for the banking sector every quarter.
"Wage increases and labor participation rates rise. The credit history of the credit is good. Housing is in short supply. High confidence in small businesses and consumers will drive economic growth for some time, despite some resistance, "Jamie Dimon, chief executive of JPM. N., told analysts on a conference call.


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