Goldman Sachs on track for record full-year profit October 16, 2021 Goldman Sachs is on track for a record full-year profit after a week of skyrocketing bank earnings from a boom in dealmaking, reported the Financial Times. The group registered third-quarter earnings per share of $14.93 on a net income that increased from $3.4bn in 2020 to $5.4bn this year. As reported by the paper, the [...]
How challenger banks are revolutionising the sector October 15, 2021 | City Talk This article first appeared in ICAS’ CA magazine. Three expert CAs tell Karam Filfilan how a new wave of challenger banks are helping to revolutionise the sector, both for consumers and businesses. Read October’s CA magazine now Digital transformation has revolutionised the banking sector over the past decade. Gone are the days of neighbourhood bank branches [...]
Despite rise of 40 per cent so far this year, bank stocks have more room to run October 15, 2021 Bank stocks have already risen nearly 40 per cent this year, but National Securities Chief Market Strategist Art Hogan says they have more room to run. Watch the full report.
Exclusive: UK set to keep EU cap on bankers’ bonuses post-Brexit October 14, 2021 The UK is set to keep the EU’s cap on bankers’ bonuses, with the Treasury instead focussed on a range of other measures to shake up financial services regulation post-Brexit. Treasury sources say the measure is not even being discussed by chancellor Rishi Sunak and that it will not be scrapped any time soon. The [...]
Reserve release provides windfall for Wells Fargo October 14, 2021 The release of a wave of reserves set aside to deal with a rise in souring loans boosted third quarter profits at US bank Wells Fargo. The American consumer banking giant notched $5.1bn in profits in the last three months, up nearly $2bn from the same period last year. More to follow.
Investment banking rebound lifts Citigroup profits October 14, 2021 A rebound in investment banking and equity trading boosted third quarter profits at Wall Street giant Citigroup. The American investment bank’s profits hit $4.6bn in the last three months, up sharply from $3.1bn in the same period last year. More to follow.
Buoyant consumer banking propels Bank of America profits October 14, 2021 Buoyant consumer banking activity drove Bank of America’s profits up sharply in the third quarter. The US bank’s profits swelled nearly $3bn over the last year, climbing to around $7.7bn in the last three months. More to follow.
Morgan Stanley beats expectations on booming deal making environment October 14, 2021 Wall Street giant Morgan Stanley beat profit expectations for the third quarter, driven by a booming deal making environment. The US bank notched $3.7bn in profits over the last months, up around $1bn from the same period last year, it said today. More to follow.
Investment group Ashmore loses $3bn assets as emerging markets struggle October 14, 2021 Assets under management at Ashmore Group dropped by $3.1bn in the third quarter of 2021, the UK-listed company said in an investor update this morning. The news marks a blow for the company, which specialises in emerging markets, as just last month the firm saw its assets under management swell to almost $95bn over the [...]
Salary slaves: 2021’s best and worst paid industries and the UK’s fastest-growing sectors October 14, 2021 Earlier this week, City A.M. revealed private equity firms are prepared to pay junior staff with less than two years experience an average salary of more than £152,000, a jump of 52 per cent compared to two years ago. For those with two to four years of experience, an salary of around £181,000 has become [...]