Wall Street investment banks are set for a booming quarter when they report earnings this week but analysts have warned that investors will look beyond the numbers for proof that they can navigate the Covid-19 crisis this year.

“It’s time to throw the script out of the window,” said Mike Mayo, a bank analyst at Wells Fargo. “You did well in the first quarter? Who cares? Investors will not look line by line at divisional performance. Banks are facing the sort of stress tests they’ve been preparing for over the past decade. Investors care about one thing – resilience.”