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Business Segments (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Operating Results and Assets By Segment
The table below presents a summary of the firm’s segment results.
 Three Months
Ended September		Nine Months
Ended September
$ in millions2025202420252024
Global Banking & Markets
  
Non-interest revenues$8,151 $7,674 $26,029 $24,928 
Net interest income1,964 880 4,913 1,536 
Total net revenues10,115 8,554 30,942 26,464 
Provision for credit losses86 54 330 95 
Compensation and benefits expenses
2,564 2,369 8,449 7,517 
Other operating expenses
3,170 2,600 8,864 7,680 
Total operating expenses
5,734 4,969 17,313 15,197 
Pre-tax earnings$4,295 $3,531 $13,299 $11,172 
Net earnings$3,257 $2,653 $10,441 $8,643 
Net earnings to common$3,070 $2,490 $9,939 $8,205 
Average common equity$78,000 $76,039 $78,013 $75,575 
Return on average common equity15.7%13.1%17.0%14.5%
Asset & Wealth Management
  
Non-interest revenues$3,317 $3,021 $9,273 $9,338 
Net interest income1,082 733 2,583 2,083 
Total net revenues4,399 3,754 11,856 11,421 
Provision for credit losses(33)(109)(116)(189)
Compensation and benefits expenses
1,982 1,621 5,337 4,927 
Other operating expenses
1,314 1,227 3,866 3,892 
Total operating expenses
3,296 2,848 9,203 8,819 
Pre-tax earnings
$1,136 $1,015 $2,769 $2,791 
Net earnings
$871 $767 $2,174 $2,159 
Net earnings to common
$828 $727 $2,055 $2,053 
Average common equity$26,125 $26,475 $26,096 $26,348 
Return on average common equity12.7%11.0%10.5%10.4%
Platform Solutions
Non-interest revenues$(136)$(343)$(324)$(334)
Net interest income806 734 2,355 2,092 
Total net revenues670 391 2,031 1,758 
Provision for credit losses286 452 796 1,091 
Compensation and benefits expenses
134 132 455 503 
Other operating expenses
289 366 851 987 
Total operating expenses
423 498 1,306 1,490 
Pre-tax earnings/(loss)
$(39)$(559)$(71)$(823)
Net earnings/(loss)
$(30)$(430)$(56)$(637)
Net earnings/(loss) to common
$(38)$(437)$(78)$(656)
Average common equity$4,229 $4,508 $4,372 $4,547 
Return on average common equity(3.6)%(38.8)%(2.4)%(19.2)%
Total  
Non-interest revenues$11,332 $10,352 $34,978 $33,932 
Net interest income3,852 2,347 9,851 5,711 
Total net revenues15,184 12,699 44,829 39,643 
Provision for credit losses339 397 1,010 997 
Compensation and benefits expenses
4,680 4,122 14,241 12,947 
Other operating expenses
4,773 4,193 13,581 12,559 
Total operating expenses
9,453 8,315 27,822 25,506 
Pre-tax earnings$5,392 $3,987 $15,997 $13,140 
Net earnings$4,098 $2,990 $12,559 $10,165 
Net earnings to common$3,860 $2,780 $11,916 $9,602 
Average common equity$108,354 $107,022 $108,481 $106,470 
Return on average common equity14.2%10.4%14.6%12.0%
In the table above:
•Other operating expenses for Global Banking & Markets for both the three and nine months ended September 2025 primarily included transaction based, communications and technology, and depreciation and amortization expenses.
•Other operating expenses for Asset & Wealth Management for both the three and nine months ended September 2025 primarily included transaction based expenses, depreciation and amortization expenses, and professional fees.
•Other operating expenses for Platform Solutions for both the three and nine months ended September 2025 primarily included professional fees, communications and technology expenses, and depreciation and amortization expenses.
•Beginning in the fourth quarter of 2024, revenues relating to certain short-term foreign currency swaps used in connection with the firm’s funding strategy are classified within non-interest revenues to better align with the classification for similar foreign currency derivatives. Previously, such revenues were included within net interest income. Prior period amounts have been conformed to the current presentation.
The table below presents assets by segment.
 
 As of
SeptemberDecember
$ in millions20252024
Global Banking & Markets$1,535,623 $1,420,142 
Asset & Wealth Management
206,929 193,328 
Platform Solutions
65,430 62,502 
Total$1,807,982 $1,675,972 
Depreciation and Amortization
The table below presents depreciation and amortization expenses by segment.
 Three Months
Ended September		Nine Months
Ended September
$ in millions2025202420252024
Global Banking & Markets
$270 $276 $822 $854 
Asset & Wealth Management
215 216 694 825 
Platform Solutions
46 129 139 215 
Total$531 $621 $1,655 $1,894 
In the table above, the decrease in Asset & Wealth Management for the nine months ended September 2025 primarily reflected lower depreciation and impairments related to commercial real estate in CIEs.
Revenue from External Customers by Geographic Areas
The table below presents total net revenues and pre-tax earnings by geographic region.
$ in millions20252024
Three Months Ended September
Americas$10,020 66%$8,045 63%
EMEA3,163 21%3,076 24%
Asia2,001 13%1,578 13%
Total net revenues$15,184 100%$12,699 100%
Americas$3,809 71%$2,389 60%
EMEA1,175 22%1,182 30%
Asia408 7%416 10%
Total pre-tax earnings$5,392 100%$3,987 100%
Nine Months Ended September
Americas$28,868 65%$25,351 64%
EMEA10,465 23%9,477 24%
Asia5,496 12%4,815 12%
Total net revenues$44,829 100%$39,643 100%
Americas$10,478 65%$8,192 62%
EMEA4,148 26%3,673 28%
Asia1,371 9%1,275 10%
Total pre-tax earnings$15,997 100%$13,140 100%
In the table above:
•Substantially all of the amounts in the Americas were attributable to the U.S.
•Asia includes Australia and New Zealand.