SEGMENT INFORMATION (Tables)

6 Months Ended

Mar. 31, 2026

The following tables present information concerning operations in these segments.


$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Three months ended March 31, 2026
Revenues:
Non-interest revenues (1)	$	2,720	$	462	$	324	$	14	$	(218)	$	3,302
Net interest income	90		2		3		472		(10)		557
Net revenues	2,810		464		327		486		(228)		3,859
Non-interest expenses:
Compensation, commissions and benefits	2,108		293		65		47		28		2,541

Bank loan provision for credit losses	—		—		—		5		—		5
All other (1)	286		120		125		268		(221)		578
Total non-interest expense	2,394		413		190		320		(193)		3,124
Total pre-tax income/(loss)	$	416	$	51	$	137	$	166	$	(35)	$	735

Three months ended March 31, 2025
Revenues:
Non-interest revenues (1)	$	2,400	$	392	$	286	$	15	$	(211)	$	2,882
Net interest income	86		4		3		419		9		521
Net revenues	2,486		396		289		434		(202)		3,403
Non-interest expenses:
Compensation, commissions and benefits	1,799		262		57		45		41		2,204

Bank loan provision for credit losses	—		—		—		16		—		16
All other (1)	256		98		111		256		(209)		512
Total non-interest expense	2,055		360		168		317		(168)		2,732
Total pre-tax income/(loss)	$	431	$	36	$	121	$	117	$	(34)	$	671

(1)“Non-interest revenues” for the PCG segment and “All other” non-interest expenses for the Bank segment included $187 million and $183 million of RJBDP fees paid to PCG for the three months ended March 31, 2026 and 2025, respectively. Such fees were eliminated in consolidation.


$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Six months ended March 31, 2026
Revenues:
Non-interest revenues (1)	$	5,397	$	838	$	647	$	31	$	(442)	$	6,471
Net interest income	181		6		6		942		(12)		1,123
Net revenues	5,578		844		653		973		(454)		7,594
Non-interest expenses:
Compensation, commissions and benefits	4,159		554		124		95		59		4,991

Bank loan provision for credit losses	—		—		—		2		—		2
All other (1)	564		230		249		537		(442)		1,138
Total non-interest expense	4,723		784		373		634		(383)		6,131
Total pre-tax income/(loss)	$	855	$	60	$	280	$	339	$	(71)	$	1,463

Six months ended March 31, 2025
Revenues:
Non-interest revenues (1)	$	4,849	$	869	$	576	$	26	$	(430)	$	5,890
Net interest income	185		7		7		833		18		1,050
Net revenues	5,034		876		583		859		(412)		6,940
Non-interest expenses:
Compensation, commissions and benefits	3,630		563		115		91		77		4,476

Bank loan provision for credit losses	—		—		—		16		—		16
All other (1)	511		203		222		517		(425)		1,028
Total non-interest expense	4,141		766		337		624		(348)		5,520
Total pre-tax income/(loss)	$	893	$	110	$	246	$	235	$	(64)	$	1,420

(1)“Non-interest revenues” for the PCG segment and “All other” non-interest expenses for the Bank segment included $375 million and $370 million of RJBDP fees paid to PCG for the six months ended March 31, 2026 and 2025, respectively. Such fees were eliminated in consolidation.

Reconciliation of Total Assets from Segment to Consolidated

The following table presents our total assets on a segment basis.


$ in millions	March 31, 2026		September 30, 2025
Total assets:
Private Client Group	$	14,563	$	14,007
Capital Markets	3,775		3,426
Asset Management	595		632
Bank	68,986		65,263
Other	4,025		4,902
Total	$	91,944	$	88,230

Revenues, Income Before Provision for Income Taxes and Excluding Noncontrolling Interests, and Total Assets, Classified by Major Geographic Areas

The following table presents our net revenues and pre-tax income/(loss) classified by major geographic area in which they were earned.


	Three months ended March 31,				Six months ended March 31,
$ in millions	2026		2025		2026		2025
Net revenues:
U.S.	$	3,528	$	3,116	$	6,937	$	6,338
Canada	191		161		376		325
Europe	140		126		281		277
Total net revenues	$	3,859	$	3,403	$	7,594	$	6,940
Pre-tax income/(loss):
U.S.	$	706	$	637	$	1,399	$	1,329
Canada	40		35		79		74
Europe	(11)		(1)		(15)		17
Total pre-tax income	$	735	$	671	$	1,463	$	1,420

The following table presents our total assets by major geographic area in which they were held.


$ in millions	March 31, 2026		September 30, 2025
Total assets:
U.S.	$	85,384	$	82,289
Canada	3,492		3,182
Europe	3,068		2,759
Total	$	91,944	$	88,230