U.S. banks get a boost from Fed rate cuts, loan growth

(Reuters) - JPMorgan Chase & Co (NYSE: JPM), Citigroup Inc (NYSE: C) and Wells Fargo & CO (NYSE: WFC) kicked off the second-quarter earning season with mixed reports.

While JPMorgan and Citi trumped analysts' profit estimates, scandal-hit Wells Fargo's results were clouded by expenses tied to past misconducts.

Overall, the U.S. banking sector is benefiting from a cut in corporate tax rates, hikes in interest rates and a growing economy that is driving demand from borrowers while holding down loan loss rates.

Bank of America Corp (NYSE: BAC), Goldman Sachs Group Inc (NYSE: GS) and Morgan Stanley (NYSE: MS) are scheduled to report results next week.

Following is a snapshot of bank earnings so far:

(GRAPHIC: U.S. big banks second quarter earnings per share - https://tmsnrt.rs/2NOKWn4)

(GRAPHIC: U.S. big banks Q2 trading revenue - https://tmsnrt.rs/2LcXwut)

(GRAPHIC: Second quarter loans - https://tmsnrt.rs/2LfCVpF)

(Reporting and Graphic by Diptendu Lahiri in Bengaluru)

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