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%...
ANZ Reports 54% High Cash Profits on Aussie Housing Boom
Australia and New Zealand Banking Group (ANZ) reported their unaudited earnings with cash profit from continuing operations for the three months ending December 31 at A$1.81bn ($1.40bn), up 54% from the average of the last two quarters. Net profits were at A$1.62bn...
NY Judge Deliver a Blow to Citi, Says Citi Cannot Recoup $500 Million from Revlon Lenders
A US District in New York ruled that Citigroup would not be allowed to recoup ~$500mn from Revlon lenders that it had erroneously transferred the funds to on August 11 last year. While the court did not dispute that the funds were transferred by mistake and exceeded...
