When the biggest U.S. banks begin reporting fourth quarter results on Friday, some of the headlines could show profits plunged by as much as 40% from a year earlier before the pandemic struck.
Analysts anticipate profits to plunge 42% at Citigroup, 39% at Wells Fargo and 33% at Bank of America. Of the big banks, only JPMorgan Chase is expected to see a moderate drop of 5%.
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