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Citizens Financial profit slips on weaker interest income
Citizens Financial's interest income tumbled 12% to $1.44 billion in the first quarter. Banks in the U.S. Have been bracing for a turnaround in gains from interest income. The bank set aside $171 million in provisions for credit losses.
Reuters · 20h ago
RPT-ANALYSIS-US regional banks seen booking more commercial property losses, loan sales
US regional banks seen booking more commercial property losses, loan sales. Banks under pressure after collapse of Silicon Valley Bank and Signature Bank. Most multifamily loans are made by regional banks. CRE holdings are significant across the U.S. Banking industry. Office loans remain the "biggest pain points" for banks.
Reuters · 21h ago
ANALYSIS-US regional banks seen booking more commercial property losses, loan sales
US regional banks seen booking more commercial property losses, loan sales. Banks expected to sell more property loans and sell more CRE loans. Office loans remain the "biggest pain points" for banks. Most multifamily loans are made by regional banks. Scrutiny of banks has increased after collapse of Silicon Valley Bank and Signature Bank.
Reuters · 22h ago
UPDATE 1-Big banks led by Citi continue to trim staff to cut costs
Big banks led by Citi continue to trim staff to cut costs in the first quarter. Headcount at Bank of America, Wells Fargo and PNC Financial declined by about 2,000 jobs combined. Banks are under pressure to control costs due to uncertain economic outlook. JPMorgan Chase added 2, thousand employees in first quarter to 311,921.
Reuters · 1d ago
Big banks led by Citi continue layoffs amid pressure to cut costs
Big banks led by Citi continue layoffs amid pressure to cut costs. Bank of America, Wells Fargo and PNC Financial together cut more than 2,000 jobs in the first quarter. Citigroup saw the biggest drop in its headcount, down by 2,500 employees. JPMorgan Chase added 2,200 employees in first quarter to 311,921.
Reuters · 1d ago
Wall Street bosses cheer investment banking gains but stay cautious
Wall Street bosses cheer investment banking gains but stay cautious. Investment banking revenues jumped 16% to $7 billion in the first quarter for largest U.S. Banks. Morgan Stanley, Goldman Sachs, JPMorgan Chase and Citigroup reported strong results. Capital markets led the comeback in investment banking, executives say.
Reuters · 1d ago
TRADESUN ANNOUNCES AN AGREEMENT WITH WELLS FARGO
Reuters · 1d ago
BUZZ-PREVIEW: Bank of America rises with Q1 earnings on deck
Shares of Bank of America BAC.N up ~1.1% at $36.19. The second-largest U.S. Lender is scheduled to report its Q1 results before the bell on Tuesday. Wall Street expects Q1 profit to fall to 77 cents/share.
Reuters · 2d ago
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