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...
UniCredit Reports Q4 Earnings
UniCredit meanwhile reported a larger than expected quarterly loss of €1.18bn ($1.4bn) vs. expectations of a €686mn ($831mn) loss. Annual net profits were at €1.3bn ($1.6bn) helped by lower costs which were down 3%. The numbers were impacted by a goodwill write down...
SocGen Reports Q4 Earnings
Societe Generale (SocGen) reported net profits of €470mn ($569mn) for Q4 and a net loss of €258mn ($313mn) for 2020 beating expectations of €252mn ($306mn) and -€258mn ($313mn) respectively. Net banking income came in at €22.1bn ($26.8bn), down 10.4%. The bank’s CET1...
