[ad_1] Bank of America on Tuesday reported first-quarter earnings that topped analysts’ estimates for profit and revenue on better-than-expected interest income and investment banking. Here’s what the company reported: Earnings: 83 cents a share adjusted, vs. 76 cents expected, according to LSEG Revenue: $25.98 billion, vs. $25.46 billion expected The bank …
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Goldman Sachs tops first-quarter estimates fueled by trading, investment banking
[ad_1] Goldman Sachs on Monday posted first-quarter profit and revenue that topped analysts’ expectations, fueled by a surge in trading and investment banking revenue. Here’s what the company reported: Earnings: $11.58 per share, vs. $8.56 expected, according to LSEG Revenue: $14.21 billion, vs. $12.92 billion expected The bank said profit …
Read More »Citigroup tops estimates for first-quarter revenue on better-than-expected Wall Street results
[ad_1] Citigroup on Friday posted first-quarter revenue that topped analysts’ estimates, helped by better-than-expected results in the bank’s investment banking and trading operations. Here’s how the company performed, compared with estimates from LSEG, formerly known as Refinitiv: Earnings: $1.86 per share, adjusted, vs. $1.23 expected Revenue: $21.10 billion vs. $20.4 …
Read More »JPMorgan Chase tops estimates on better-than-expected credit costs, trading revenue
[ad_1] Jamie Dimon, President and CEO of JPMorgan Chase, speaking on CNBC’s “Squawk Box” at the World Economic Forum Annual Meeting in Davos, Switzerland, on Jan. 17, 2024. Adam Galici | CNBC JPMorgan Chase on Friday posted profit and revenue that topped Wall Street estimates as credit costs and trading …
Read More »SBP announces bank holidays for Eid ul Fitr – SUCH TV
[ad_1] All the banks and financial institutions will remain closed from April 10 to 12 in connection with the Eid ul Fitr. In a statement, the State Bank of Pakistan (SBP) announced that the central bank will “remain closed from 10th to 12th April, 2024 (Wednesday to Friday) being public …
Read More »Banks to pay tax on lower lending | The Express Tribune
[ad_1] KARACHI: The government will collect an additional tax in the range of 10% to 16% from banks in case their lending to the private sector falls below 50% of total deposits, aimed at encouraging them to provide more financing to ramp up business activities ahead of a potential drop …
Read More »Banks are in limbo without a crucial lifeline. Here’s where cracks may appear next
[ad_1] The forces that consumed three regional lenders in March 2023 have left hundreds of smaller banks wounded, as merger activity — a key potential lifeline — has slowed to a trickle. As the memory of last year’s regional banking crisis begins to fade, it’s easy to believe the industry …
Read More »Morgan Stanley names a head of artificial intelligence as Wall Street leans into AI
[ad_1] The Morgan Stanley digital sign is seen at the company’s Times Square headquarters in New York, U.S., on Friday, Jan. 12, 2016. John Taggart | Bloomberg | Getty Images Morgan Stanley promoted a tech executive in its wealth management division to become the bank’s first head of firm-wide artificial …
Read More »NYCB says it lost 7% of deposits in the past month, slashes dividend to 1 cent
[ad_1] The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty Images New York Community Bank said Thursday it lost 7% of its deposits in the turbulent month before announcing a $1 billion-plus capital injection from investors …
Read More »Why private equity has been involved in every recent bank deal
[ad_1] Federal Reserve Chair Jerome Powell fist-bumps former Treasury Secretary Steven Mnuchin after a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, D.C., on Dec. 2, 2020. Greg Nash | Reuters The $1 billion-plus …
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