During the third quarter, gross loans excluding the Paycheck Protection Program grew 1.7% quarter over quarter at the 15 largest U.S. banks by loans, compared to 2.0% growth for the wider industry. However, on a year-over-year basis, the group's 6.1% loan growth outpaced the industry's 3.1% gain.

In aggregate, the 15 largest U.S. banks reported quarter-over-quarter increases in four of the five loan categories examined: commercial real estate loans, consumer loans, closed-end first-lien one- to four-family loans and multifamily loans.

Goldman Sachs Group Inc.'s gross loans, net of PPP, jumped 8.5% in the third quarter, the largest quarterly increase in the group. Meanwhile, Charles Schwab Corp. made it into the top 15 banks by gross loans, excluding PPP, after its loan book jumped 6.2% quarter over quarter.

Aggregate consumer loans for the group increased 2.6% quarter over quarter. Charles Schwab recorded the largest gain among the top 15 in the third quarter with consumer loan growth of 10.0%.

Citigroup Inc. led the pack in CRE loans with 10.6% growth quarter over quarter but was the only bank in the group to report a drop in gross loans less PPP.

Aggregate commercial and industrial loans for the group fell 1.2% in the third quarter, compared to a decline of 4.0% for the banking industry. Ally Financial Inc. reported the largest drop in the third quarter among the group at 10.3%, followed by JPMorgan Chase & Co. at 5.4%. However, Ally's closed-end residential mortgage loans grew 17.5% from the linked quarter, making it the largest increase in the loan category.

Aggregate home equity loans for the group fell 4.3% in the third quarter, compared to a decline of 2.9% for the industry. Twelve of the largest U.S. banks reported a decline in home equity loans in the third quarter, led by a 46.0% drop at Morgan Stanley.

At the 15 largest banks, PPP loans fell by 43.0% on a quarter-over-quarter basis, while the wider industry saw those loans shrink by 44.7%.