Improved Financial Performance
Net income increased to $5.5 billion or $1.60 per diluted share, reflecting ongoing investments, expense focus, strong credit discipline, and capital return.
Asset Cap Removal
The asset cap was lifted, allowing more aggressive growth in deposits and loan allocations, and marking a pivotal milestone in company transformation.
Investment Banking Growth
Investment banking fees up 16% during the first half of the year, with increased market share and gains in leveraged finance and M&A.
Improved Credit Performance
Credit performance improved with lower net loan charge-offs and losses in consumer and commercial portfolios improved from a year ago.
Dividend and Stock Buyback
Expected to increase third quarter common stock dividend by 12.5% and authorized an additional common stock repurchase program of up to $40 billion.