On Tuesday, shares of major banks surged collectively.

Goldman Sachs Group Inc (GS) shares jumped more than 8%, while JPMorgan Chase & Co (JPM) and Bank of America Corp (BAC) both gained over 2%, with each reaching new all-time highs.

Additionally, UBS Group AG (UBS) shares rose nearly 4%, and Barclays PLC (BCS) along with Citigroup Inc (C) both advanced more than 2%.

The movement comes as the second-quarter earnings season for banks commenced, revealing robust financial performance.

Specifically, JPMorgan Chase reported a second-quarter net profit of $21.155 billion, a 41% increase year-over-year, setting a new quarterly record for the bank and marking the highest quarterly profit in the history of the US banking industry.

Goldman Sachs saw its second-quarter net revenue surge 39% to a record $20.34 billion, with net profit climbing 78%.

Bank of America's total revenue for the quarter soared 34% to a record $7.1 billion.