Net income of the U.S. banking industry - including commercial banks and savings institutions - declined much more in 2008 than in 2022. The lowest growth rate was measured in the third quarter of 2008, when the net income of the banking industry was 94 percent less than in the same quarter of the previous year. After the global financial crisis in 2007/2008, the growth rate experienced a surge in 2009 and 2010. Between 2011 and 2019, it remained relatively stable, with less extreme fluctuations. As the COVID-19 pandemic - and with it the economic downturn - hit the economy of the U.S., the growth rate dropped again in 2020, then increased in 2021. The first half of 2022 brought another negative growth rate. As of the first quarter of 2023, the quarterly income growth rate of the American banking industry was 33.6 percent.
Percentage change on previous year of net income of the overall banking industry in the United States from 1st quarter 2007 to 1st quarter 2023
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Other statistics that may interest you U.S. banking industry during recessions
Overview
7
- Premium Statistic Quarterly net income of U.S. banking industry 2007-2023
- Premium Statistic Y-o-y quarterly net income growth of U.S. banking industry 2007-2023
- Premium Statistic Quarterly asset growth rate of U.S. banking industry 2003-2023
- Premium Statistic Quarterly ROA of U.S. banking industry 2003-2023
- Premium Statistic Quarterly ROE of U.S. banking industry 2003-2023
- Premium Statistic Quarterly CET1 ratio of U.S. banking industry 2003-2023
- Premium Statistic Annual percentage of unprofitable banks in the U.S. 2003-2022
Performance indicators
8
- Premium Statistic Y-o-y quarterly net income growth of the 5 biggest banks in the U.S. 2010-2023
- Premium Statistic Y-o-y quarterly employee growth of U.S. banking industry 2007-2022
- Premium Statistic Quarterly CET1 ratio of the 15 biggest banks in the U.S. 2013-2022
- Premium Statistic Quarterly ROA of the 15 biggest banks in the U.S. 2003-2022
- Premium Statistic Quarterly ROE of the 15 biggest banks in the U.S. 2013-2023
- Premium Statistic Quarterly net income of JPMorgan Chase 2007-2023
- Premium Statistic Quarterly net income of Wells Fargo 2007-2023
- Basic Statistic Quarterly net income of Bank of America 2007-2023
Interest rates
5
- Basic Statistic Annual Fed funds effective rate in the U.S. 1990-2023
- Basic Statistic Monthly Fed funds effective rate in the U.S. 1954-2024
- Premium Statistic Monthly inflation rate and Federal Reserve interest rate in the U.S. 2018-2023
- Premium Statistic Annual prime loan rate of banks in the U.S. 1990-2023
- Premium Statistic Mortgage interest rates in the U.S. Q1 2019- Q2 2023, by mortgage type
Bank lending
6
- Premium Statistic Quarterly loan loss provisions as a share of total bank loans in the U.S. 2003-2022
- Premium Statistic Quarterly loan value as a share of total bank assets in the U.S. 2003-2022, by type
- Premium Statistic Monthly value of commercial and industrial loans in the U.S. 2007-2023
- Premium Statistic Annual change of loans and leases in bank credit in the U.S. 2007-2023
- Premium Statistic Annual change of total consumer credit in the U.S. 2007-2023
- Premium Statistic Quarterly delinquency on all commercial bank loans in the U.S. 2007-2023
Banker perspective
5
- Premium Statistic Banker perspective on the timing of a recession in the U.S. Q3 2022
- Premium Statistic Banker perspective on likely causes of recession in the U.S. Q2 2022
- Premium Statistic Banker perspective of Fed interest rate policy in the U.S. Q3 2022
- Premium Statistic Quarterly banker expectations in financial indicators of the industry in U.S. 2023
- Premium Statistic Quarterly banker opinion on economic condition of the industry in U.S. 2023
Further Content: You might find this interesting as well
FDIC. (June 22, 2023). Percentage change on previous year of net income of the overall banking industry in the United States from 1st quarter 2007 to 1st quarter 2023 [Graph]. In Statista. Retrieved May 09, 2024, from https://www.statista.com/statistics/1097062/us-bank-industry-income-growth-rate-per-quarter/
FDIC. "Percentage change on previous year of net income of the overall banking industry in the United States from 1st quarter 2007 to 1st quarter 2023." Chart. June 22, 2023. Statista. Accessed May 09, 2024. https://www.statista.com/statistics/1097062/us-bank-industry-income-growth-rate-per-quarter/
FDIC. (2023). Percentage change on previous year of net income of the overall banking industry in the United States from 1st quarter 2007 to 1st quarter 2023. Statista. Statista Inc.. Accessed: May 09, 2024. https://www.statista.com/statistics/1097062/us-bank-industry-income-growth-rate-per-quarter/
FDIC. "Percentage Change on Previous Year of Net Income of The Overall Banking Industry in The United States from 1st Quarter 2007 to 1st Quarter 2023." Statista, Statista Inc., 22 Jun 2023, https://www.statista.com/statistics/1097062/us-bank-industry-income-growth-rate-per-quarter/
FDIC, Percentage change on previous year of net income of the overall banking industry in the United States from 1st quarter 2007 to 1st quarter 2023 Statista, https://www.statista.com/statistics/1097062/us-bank-industry-income-growth-rate-per-quarter/ (last visited May 09, 2024)
Percentage change on previous year of net income of the overall banking industry in the United States from 1st quarter 2007 to 1st quarter 2023 [Graph], FDIC, June 22, 2023. [Online]. Available: https://www.statista.com/statistics/1097062/us-bank-industry-income-growth-rate-per-quarter/