5 Most Profitable Banks in the US in 2024

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In this piece, we will take a look at the five most profitable banks in the US in 2024. If you want to skip our coverage of the latest news in the US banking industry, then you can take a look at the 20 Most Profitable Banks in the US in 2024.

5. Morgan Stanley (NYSE:MS)

Trailing Twelve Month Net Income: $9 billion

Morgan Stanley (NYSE:MS) is one of the biggest investment banks in the world. After a strong first quarter earnings report that beat analyst estimates and marked a 16% annual growth in its investment banking earnings, Morgan Stanley (NYSE:MS) was eager to keep up the momentum as it dismissed concerns of a potential US investigation into its wealth management.

By the end of Q4 2023, 56 out of the 933 hedge funds part of Insider Monkey’s database had bought and owned Morgan Stanley (NYSE:MS)’s shares. Ken Fisher’s Fisher Asset Management was the firm’s biggest investor due to its $1.8 billion stake.

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