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Search resuls for: "Nupur Anand Niket Nishant"


3 mentions found


☆ US banking giants to report higher profits even as dealmaking drags
  + stars: | 2023-07-11 | by ( Nupur Anand Niket Nishant Saeed Azhar | Nupur Anand | Niket Nishant | ) www.reuters.com   time to read: +5 min
REUTERS/Kevin Lamarque/File PhotoNEW YORK, July 11 (Reuters) - Wall Street banks are expected to report higher profits for the second quarter as rising interest payments offset a downturn in dealmaking. Results for investment banking behemoths will also weaken, with EPS forecast to drop almost 59% at Goldman Sachs (GS.N). That offsets the doldrums in investment banking, where revenues have been depressed by rising interest rates and economic uncertainty. Reuters GraphicsBanking executives have also lowered expectations for the second quarter after mergers, acquisitions and debt offerings plunged in recent months. "We see higher credit risk ahead for lower to middle class families with higher credit card debt that cannot keep pace with higher living costs," Leon added.
Persons: Kevin Lamarque, Goldman Sachs, Morgan Stanley's, David Konrad, Keefe, Goldman, Stephen Biggar, Wells, Morgan Stanley, Betsy Graseck, Kenneth Leon, Leon, Konrad, Nupur Anand, Saeed Azhar, Niket, Lananh Nguyen, Marguerita Choy, Andrea Ricci Organizations: Bank of America, REUTERS, JPMorgan, . Bank of America's, Citigroup, Universal, Argus Research, JPMorgan Chase, Reuters Graphics Banking, Federal Reserve, CFRA Research, Investors, Thomson Locations: Washington, Wells, Refinitiv, Wells Fargo, U.S, New York, Bengaluru
☆ JPMorgan CEO says unlikely to acquire other struggling banks
  + stars: | 2023-05-16 | by ( Nupur Anand Niket Nishant | Nupur Anand | Niket Nishant | ) www.reuters.com   time to read: +2 min
NEW YORK, May 16 (Reuters) - JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon said that it is "unlikely" that the bank will acquire any other struggling lender, weeks after it acquired the failed First Republic Bank. Dimon's latest statement comes just two weeks after JPMorgan bought a majority of First Republic Bank's assets in a rescue effort backed by the U.S. government. First Republic was the third major U.S. institution to fail in two months, and JPMorgan agreed to take $173 billion of the bank's loans, $30 billion of securities and $92 billion of deposits. In the shareholder meeting on Tuesday while all management proposals passed, all of the motions submitted by shareholders failed. A shareholder proposal on tweaking rules under which shareholders can call for a special shareholder meeting also got more than 30% of backing.
☆ Goldman Sachs profit falls on sluggish deals and bond trading, Marcus loss
  + stars: | 2023-04-18 | by ( Nupur Anand Niket Nishant Saeed Azhar | Nupur Anand | Niket Nishant | ) www.reuters.com   time to read: +5 min
April 18 (Reuters) - Goldman Sachs Group Inc's (GS.N) profit fell 19% as dealmaking and bond trading slumped in the first quarter and it lost money on the sale of some assets in its consumer business. Goldman booked a $470 million loss on the sale of some loans from Marcus, dragging down first quarter results. The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. But deposits held in the Marcus business remain core to Goldman and are not under review, a source familiar with the matter had told Reuters earlier this year. Goldman's lackluster trading results contrast with those of Bank of America Corp (BAC.N), which also reported earnings on Tuesday.
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