Page 9 - Us Banks

Goldman Sachs traders deliver surprise surge in firm's best year ever

The Covid-19 pandemic has given a massive boost to banks' trading and dealmaking operations

US banks beat profit estimates on economic rebound, deals bonanza

JPMorgan Chase & Co, Citigroup, Wells Fargo & Co and Bank of America Corp reported a combined profit of $28.7 billion for the third quarter, beating analyst estimates

Top US banks smash second quarter profit estimates on rebounding economy

WASHINGTON (Reuters) - The four largest U.S. consumer banks posted blockbuster second-quarter results this week, after pandemic loan losses failed to materialize and the U.S. economy began roaring back to life.

Jamie Dimon succession race has two women ahead of pack at JP Morgan

Marianne Lake and Jennifer Piepszak have been named as co-heads of consumer and community banking business.

Biden administration reverses Trump changes to bank antidiscrimination law

The Biden administration announced it would repeal the changes made by the Trump administration to an important law made to stop banks from discriminating against racial minorities and the poor

S&P 500, Dow hit record highs on earnings boost from big banks

Nine of the 11 S&P indexes were trading higher

Morgan Stanley profit blows past estimates, flags $900-mn loss on Archegos

Net revenue jumped 61% to $15.72 billion.

Citigroup announces retail business exit from India, 12 other countries

Says it lacks the scale to compete in retail space, will focus on wealth management business

US banking major Citibank to exit consumer banking business in India

This is part of the bank's global strategy

Citigroup to exit retail banking operations in India, 12 other countries

CEO Jane Fraser says Citi lacked the scale to properly compete in the 13 markets it is leaving

JPMorgan profit surges helped by trading, investment banking boost

(Reuters) - JPMorgan Chase & Co reported a surge in first-quarter earnings on Wednesday, as the largest U.S. bank released more reserves and was aided by a blowout quarter from its trading desks and soaring investment banking fees.

Goldman profit smashes expectations on booming investment banking

Global investment banking fee hit an all-time record of $39.4 billion during the March quarter,

Wells Fargo profit beats Wall Street estimates as credit costs stabilize

(Reuters) - Wells Fargo & Co reported first-quarter profit ahead of Wall Street estimates on Wednesday as the bank set aside less money to cover soured loans.

Archegos meltdown to intensify shadow banking regulatory scrutiny: Report

The implosion of Archegos Capital and the resulting losses for global banks is likely to intensify regulatory efforts to curtail the ballooning shadow banking sector and shed light on its risks

Global banks may lose more than $6 billion from Archegos Capital fallout

Japan's Nomura and Credit Suisse of Switzerland warned of major losses from lending to Archegos for equity derivatives trades, triggering a worldwide sell-off in banking stocks

US Fed to let bank-leverage exemption expire this month, will review rule

Shares of the largest US banks fell after the news, with JPMorgan Chase & Co losing as much as 4 per cent before closing down 1.6 per cent on the day

US Fed to let leverage exemption expire on March 31, will review rule

Shares of the largest US banks dropped in pre-market trading on Friday immediately following the Fed's announcement

Goldman Sachs profit more than doubles on underwriting, trading boost

Goldman Sachs profit more than doubles on underwriting, trading boost

Bank of America hopes for loan growth bounce after muted quarter

The second-largest U.S. bank by assets also reported a 13% fall in consumer banking revenue

Bank of America fourth quarter profit fell 18% but topped Street views

Bank of America Corp. says its fourth-quarter profit fell nearly 18 per cent to USD 5.47 billion from USD 6.99 billion a year earlier. The bank, based in Charlotte, North Carolina, said Tuesday that it had earnings of 59 cents per share, down from 74 cents a year ago. The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share. The nation's second-largest bank posted revenue net of interest expense of USD 20.1 billion, which missed Street forecasts. Six analysts surveyed by Zacks expected USD 20.4 billion. Bank of America shares have increased nearly 9 per cent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has decreased nearly 5 per cent in the last 12 months.