JP Morgan Chase, Wells Fargo and Citigroup all said that their earnings fell on Friday as the US bank reporting season kicked off.
Wells Fargo, still reeling from a scandal that saw its chief executive abruptly retire earlier this week, saw earnings dip from 5.8 billion US dollars (£4.7 billion) to 5.6 billion US dollars (£4.6 billion) in the third quarter compared with a year earlier.
The bank last month reached a 185 million US dollars (£152 million) settlement with US regulators after allegedly opening up two million bank and credit card accounts without customer consent in a bid to meet sales goals.
Citigroup saw profits drop nearly 11% in the third quarter compared with the same period last year, but managed to outperform earnings estimates of 1.15 US dollars (£0.94) at 1.24 US dollars (£1.02).
However, net income dropped from 4.3 billion US dollars (£3.5 billion) to 3.8 billion US dollars (£3.1 billion) compared with the third quarter of 2015. Revenue at the New York-based bank fell 5% to 17.8 billion US dollars (£14.6 billion).
Meanwhile, JP Morgan reported an 8% drop in third quarter profits.
The bank reported earnings of 6.3 billion US dollars (£5.1 billion), down from 6.8 billion US dollars (£5.6 billion) in the same period last year. It still managed to beat Wall Street forecasts for earnings of 1.39 US dollars (£1.14) per share at 1.58 US dollars per share (£1.30).
Revenue increased to 24.7 billion US dollars (£20.3 billion), from 22.8 billion US dollars (£18.7 billion) during the same period last year.
While profits at the banks fell, the numbers still managed to beat analyst estimates.