Goldman Misses Earnings Estimates with Higher Expenses
Goldman Sachs reported its Q4 2021 earnings with mixed results – EPS came at $10.81/share, missing the $11.76 estimate with earnings of $3.94bn, down 13% YoY. Revenues however climbed 8% YoY to $12.6bn vs. estimates of $12.1bn. Its operating expenses jumped 23%...
UniCredit to Cut APAC Banking Services Presence
UniCredit said that it would stop basic banking services to APAC units of its European clients in an effort to streamline its international presence and operations besides cutting costs. It would close down its Tokyo, Shanghai and Singapore branches and only maintain...
Banks to Reduce Chinese Real Estate LGFV Lending
Several of China’s biggest banks have been considering tighter lending standards to real estate projects by local government financing vehicles (LGFV) as per a Bloomberg report on Friday. This comes concerns have emerged about some LGFVs taking on too much risk....
JPMorgan and Citi Report Soft Earnings; Wells Fargo Tops Estimates
JPMorgan reported its Q4 earnings with net income of $10.4bn, down 14% YoY and net revenues of $30.3bn, up 1%. Fixed-income trading revenue fell 16% to $3.3bn vs. a 13.5% decline expected. Total trading revenue fell 11% vs. a 9% expected fall. Equities trading revenue...
