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US Banks Hit Record Net Interest Income in Q3, Totaling $56.5 Billion
The three largest US banks set another record for net interest income in the third quarter. Despite rising rates, customers continued to borrow. JPMorgan Chase, Citigroup, and Wells Fargo reported on Tuesday that their combined net interest income reached $56.5 billion, marking a fifth consecutive quarter of highs. JPMorgan projects that net interest income will rise further by 2027.
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