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Search resuls for: "Mehnaz Yasmin Niket Nishant"


2 mentions found


☆ JPMorgan amasses deposits as customers move money to largest U.S. bank
  + stars: | 2023-04-14 | by ( Mehnaz Yasmin Niket Nishant | Mehnaz Yasmin | Niket Nishant | ) www.reuters.com   time to read: +2 min
The largest U.S. lender gained $50 billion in deposits at the end of March, its first-quarter earnings report showed. That compares to Citigroup Inc (C.N), where deposits were largely flat, and a decline at Wells Fargo & Co (WFC.N). Investors have closely scrutinized deposits after the collapses of Silicon Valley Bank and Signature Bank last month rattled markets, prompting regulators to step in to guarantee their customers' deposits. JPMorgan reported a 2% rise in deposits to $2.38 trillion at the end of the quarter compared with the end of 2022. Deposits at Wells Fargo slid 2% to $1.36 trillion as customers moved their money to higher-yielding accounts and products.
☆ AmEx forecasts stronger earnings even as it builds bigger provisions
  + stars: | 2022-10-21 | by ( Mehnaz Yasmin Niket Nishant | Mehnaz Yasmin | Niket Nishant | ) www.reuters.com   time to read: +2 min
Register now for FREE unlimited access to Reuters.com RegisterTo better prepare for defaults, AmEx built provisions of $778 million in the third quarter, compared with analysts' estimate of $604.1 million. Still, the company expects to report full-year profit above its prior forecast of $9.25 to $9.65 per share. The blending of work and leisure travel has also caught up, executives in the travel industry have said in recent months. Strong growth in travel and entertainment in its international markets helped AmEx beat September-quarter profit estimates. Revenue rose 24% to $13.6 billion, while expenses climbed 19% as AmEx had to spend heavily on customer rewards, compensation and marketing.
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