Barclays Reports 38% Fall in 2020 Profits
British lender Barclays reported Q4 profits were of £220mn ($307mn) and full year net profits of £1.53bn ($2.11bn), down 38% YoY. The corporate and investment banking unit saw income rise 22% to £12.5bn ($17.5bn) but this was offset by credit impairment charges of...
Credit Suisse Reports Fourth Quarter Losses On Litigation and Credit Provisions
Credit Suisse reported 4Q2020 net losses of CHF353mn ($393mn) as against profits of CHF852mn ($949)in the same period last year while net revenues fell to CHF5.2bn ($5.8bn), down 16%. Annual net revenues were down 4% to CHF5.3bn ($5.9bn) and net profits were down 22%...
Santander Reports Earnings With Its First Ever Annual Loss
Spanish banking major Banco Santander reported its first annual loss in its 163 year old history. They reported a loss of €8.771bn ($10.56bn) for 2020 as against a profit of €6.515bn ($7.84bn) in 2019. Writedowns and provisions were the primary reason attributable as...JPM, Wells, Citi Report Q4 Earnings With Mixed Results
JPMorgan Chase (JPMC), Wells Fargo and Citigroup reported earnings on Friday as the Q4 earnings season began last week. Below are highlights from their earnings: JPMC reported an EPS of $3.79 with net income up 42% to $12.1bn as it released $2.9bn in credit loss...
