Wealth management arm helps Morgan Stanley to beat profit estimates July 18, 2019 Morgan Stanley reported a dip in profits during the last three months, but followed several of its big banking peers this week by trumping Wall Street estimates. Read more: Danske Bank misses profit estimate after troubled 12 months The US multinational group posted earnings of $2.2bn (£1.76bn), or $1.23 a share, falling from $1.30 per [...]
Danske Bank misses profit estimate after troubled 12 months July 18, 2019 Danske Bank’s pre-tax profits for the second quarter of 2019 fell below expectations, as low interest rates and costs from an Estonian money laundering scandal dented its balance sheet. Read more: Danske Bank sacks former interim CEO over fees crisis The European banking giant posted pre-tax profits of 4.76bn Danish crowns (£576m) during the three [...]
FCA boss Andrew Bailey heckled by victims of financial scandals July 17, 2019 The head of Britain’s financial watchdog was heckled by aggrieved small-scale investors at a public meeting this afternoon, following a spate of corporate controversies that have cast a cloud over the body’s reputation in recent months. Andrew Bailey, the chief executive of the UK’s Financial Conduct Authority, faced a grilling from victims of several high-profile [...]
Arbuthnot profits rise as it targets growth after capital raising July 17, 2019 Arbuthnot Banking Group reported an uptick in profits during the first half of 2019, following a major capital-raising plan to achieve future growth. The historic private and commercial bank, which is listed on London’s Alternative Investment Market (Aim), reported pre-tax profits of £2.9m in the six months to 30 June, rising from £1.2m in the [...]
Wells Fargo outperforms estimates as profits climb July 16, 2019 Wall Street banking giant Wells Fargo reported a rise in quarterly profits this afternoon, comfortably beating expectations as it presses ahead with a major cost-cutting overhaul. The lender posted earnings per share of $1.30 during the second quarter of 2019, rising from $0.98 per share a year ago and beating $1.15 per share Refinitiv estimates. [...]
Goldman Sachs beats Wall Street estimates despite profit drop July 16, 2019 Goldman Sachs outperformed expectations on Wall Street this afternoon as a double-digit surge in investment and lending boosted the banking giant, despite a fall in quarterly profits. Shares in the New York-based firm edged up 1.1 per cent pre-trading after it reported earnings per share of $5.81, falling from $5.98 a year earlier but beating [...]
JP Morgan trumps expectations with 16 per cent rise in profits July 16, 2019 JP Morgan Chase beat analyst estimates this afternoon after posting a double-digit rise in profit, bolstered by a tax windfall and higher net interest income. America’s largest bank reported a 16 per cent rise in profit to $9.65bn (£7.7bn) today, or $2.82 per share, trumping Refinitiv estimates of $2.50 per share. Read more: Citigroup starts [...]
ii view: Citigroup beats forecasts July 16, 2019 | City Talk By Keith Bowman from interactive investor. Investors have been cautious regarding US banks. Has anything changed with these results? Second-quarter results to the end of June 2019 Revenue up 2 per cent to $18.8 billion Net income of $4.8 Billion, up 7 per cent Earnings per share up 20 per cent to $1.95 Operating expenses down 2 per [...]
Orcel ‘offered €52m’ by Santander as part of botched CEO plan July 16, 2019 Santander reportedly offered Andrea Orcel a €52m pay deal as part of a botched plan to appoint him as chief executive. Orcel, the investment banker who was denied the role of chief executive at Santander just four months after being offered the post, was offered a cash sign-on bonus of €17m and €35m of shares, [...]
How CEO Christian Sewing can save Deutsche Bank July 16, 2019 Pity Christian Sewing. The chief executive of German banking giant Deutsche Bank is not having a good time. What started with a tough but brave call to close his equities business has turned into a low point in the company’s history. There is the potential investigation into its entanglement with the scandal concerning the insolvent [...]