Made Nearly $47 Billion In 3 Months: How Top US Banks Profiteered From Iran War

Wall Street’s biggest lenders collectively earned nearly $47 billion in profits in the first quarter of 2026, capitalising on market volatility triggered by the escalating conflict involving Iran. Financial giants including JPMorgan Chase, Goldman Sachs, Bank of America, Morgan Stanley, Citigroup and Wells Fargo reported strong earnings, driven largely by increased demand for trading services as investors reacted to economic uncertainty.

Read more: Who Is Johnny Somali? American YouTuber Jailed In South Korea For Kissing A Statue

How Market Turbulence Fueled Profits For Major US Banks?

The ongoing conflict disrupted global markets, particularly due to tensions affecting oil shipments through the Strait of Hormuz. Rising energy prices and fears

of inflation and recession prompted investors to move away from risky assets, creating a surge in trading volumes- an environment that typically benefits large banks.

JPMorgan Chase reported a 13% rise in profits to $16.5 billion, while Goldman Sachs posted a 19% increase to $5.6 billion. Bank of America also saw profits climb 17% to $8.6 billion, citing heightened trading activity.

Read more: Is Pete Hegseth’s Job At Risk? Iran War Sparks Impeachment Push

Is Investor Anxiety Boosting Trading Desks?

Yes, as global uncertainty grew, investors rushed to rebalance portfolios, pulling funds from vulnerable sectors and shifting toward safer assets. This wave of buying and selling drove revenue for trading desks at major banks. Citigroup reported a 42% surge in profits to $5.8 billion, while Morgan Stanley recorded a 30% jump to $5.6 billion. Wells Fargo posted a more modest 7% increase to $5.3 billion.

Read more: Iran Set To Execute First Female Protester Bita Hemmati Amid Crackdown On Dissent

Amid the profit surge, banks have returned significant sums to investors through share buybacks. JPMorgan Chase led the pack with $8.3 billion in buybacks, followed by Bank of America at $7.2 billion and Citigroup at $6.3 billion.