by Amruth Sundarkumar | Oct 11, 2022 | Banks
As Q3 earnings season approaches, the largest US banks are expected to collectively increase their loan loss provisions by about $4.5bn, according to analysts’ estimates from Bloomberg. The banks include JP Morgan Chase, Bank of America, Citigroup, Goldman Sachs,...
by Amruth Sundarkumar | Apr 18, 2022 | Banks
Citigroup’s reported a 46% YoY drop in Q1 2022 net profits to $4.3bn due to higher cost of credit, higher expenses, and lower revenues. Revenues fell 2% YoY to $19.2bn. Citi’s cost of credit was at $755mn in Q1 compared to -$2.1bn in the prior year period...
by Amruth Sundarkumar | Mar 21, 2022 | Banks
US investments banks are hit by an IPO slowdown as equity capital markets (ECM) revenues have been impacted. Big investment banks such as Goldman Sachs, Citigroup, BofA and Morgan Stanley have seen ECM fees sharply drop to $645mn vs. $5.3bn for the same period in...
by Amruth Sundarkumar | Jan 19, 2022 | Banks
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%...
by Amruth Sundarkumar | Oct 18, 2021 | Banks
Goldman Sachs reported net profits of $5.4bn in Q3, up over 60% YoY. Investment Banking revenues jumped a massive 88% YoY to $3.7bn with advisory revenue hitting a record. Its Global Markets division generated quarterly net revenues of $5.6bn, up 23% YoY with FICC...
