America's biggest banks are ending 2025 on top with big growth goals and markets 'wide open'

Core Insights - America's largest banks are ending 2025 with record-high stock prices, increased assets, and a level of regulatory freedom not seen in 15 years [1] Group 1: Stock Performance and Growth - Bank of America (BAC) achieved a record high stock price in December, surpassing its pre-crisis peak from 2006 [2] - JPMorgan Chase (JPM) and Wells Fargo (WFC) are also trading at record highs, while Citigroup's (C) stock has exceeded its book value per share for the first time in seven years, although it remains 80% lower than its peak in 2000 [3] Group 2: Investment Banking and Trading Fees - Wall Street's activities, including merger momentum and market volatility, are driving a surge in fees from investment banking and trading divisions for these banks [4] - Global investment banking volume is projected to increase by 10% from 2024, reaching its highest level since 2021, despite challenges like tariff-related market freezes and IPO delays [5] Group 3: Future Growth Plans - Executives from major banks indicated plans for expansion in 2026 during a recent industry conference [6] - Citigroup's CFO noted the resilience of global economies and the openness of capital markets [7] - Bank of America aims to enhance cross-selling between its consumer and wealth divisions, focusing on recruiting financial advisers and expanding its branch network [7] - Wells Fargo plans to grow across all its businesses following the easing of regulatory restrictions related to its past scandals [8] Group 4: Asset Growth - Wells Fargo's total assets surpassed $2 trillion in the third quarter, a significant milestone given previous restrictions [9]