The Investment bank Goldman Sachs Group Inc (NYSE: GS) reported an 80% increase in quarterly profit due to the rise in global stocks and debt.
The net profit attributable to ordinary shareholders rose to $ 2.16 billion in the first quarter ended March 31, from $ 1.2 billion a year earlier.
Earnings per share rose from $ 2.68 to $ 5.15.
On average, analysts had expected earnings per share of $ 5.31, according to Thomson Reuters I/B/E/S.
The cost of taxes fell 35.6% to $ 284 million.
The traditional rival of Goldman, Morgan Stanley (NYSE: MS), will report on its results on Wednesday.
Another big US bank, Bank of America Corp (NYSE: BAC), reported on Tuesday that its quarterly profit increased by 44%, supported by higher interest rates, as well as increased trading operations.
The net profit attributable to shareholders of the bank's second-largest bank in the US increased to $ 4.35 billion for the three months ended March 31 from $ 3.02 billion a year earlier.
Earnings per share rose to 41 cents from 28 cents. Analysts polled by Reuters, on average, predicted the figure at 35 cents per share.
Total revenue of the bank rose 7% to $ 22.25 billion during the reporting period.
The revival of market activity after the Trump victory in the presidential elections favorably affected the financial results of large American banks. They also benefited from higher interest rates, which the Fed plans to continue this year.
JPMorgan Chase and Citigroup (NYSE: C) last week also posted better-than-expected quarterly earnings due to higher trading volumes.
Excluding special items, trading operations brought Bank of America $4 billion.
Revenues from fixed-income instruments jumped about 29%, while earnings from stock trading rose about 7%.
Net interest income of the bank was $ 11.06 billion, which is 5.5% more than a year earlier.