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Search resuls for: "Nupur Anand Tatiana Bautzer Saeed Azhar"


2 mentions found


☆ US bank giants ride rate rises, keep storm clouds at bay
  + stars: | 2023-04-14 | by ( Nupur Anand Tatiana Bautzer Saeed Azhar | Nupur Anand | Tatiana Bautzer | ) www.reuters.com   time to read: +6 min
Wells Fargo fared less favorably, down 0.3%, and regional banks including Zions (ZION.O) and First Republic (FRC.N) fell. Net interest income, a measure of how much a bank earns from lending, surged 49% to $20.8 billion. Meanwhile, Wells Fargo set aside $1.21 billion in the quarter to cover for potential loan losses, compared to a release of $787 million a year earlier. "While most consumers remain resilient, we've seen some consumer financial health trends gradually weakening from a year ago," Mike Santomassimo, Wells Fargo finance chief, told analysts. More banking results are due over the coming week, including Bank of America (BAC.N) and Goldman Sachs (GS.N) on Tuesday and Morgan Stanley (MS.N) on Wednesday.
☆ U.S. bank giants ride rate rises, keep storm clouds at bay
  + stars: | 2023-04-14 | by ( Nupur Anand Tatiana Bautzer Saeed Azhar | Nupur Anand | Tatiana Bautzer | ) www.reuters.com   time to read: +5 min
[1/2] The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. First-quarter 2023 earnings from JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N) and Wells Fargo & Co (WFC.N) beat Wall Street expectations on Friday as consumer and corporate spending held up in the face of rate rises, although all three saw signs of a slowdown and made provisions accordingly. Net interest income, a measure of how much a bank earns from lending, surged 49% to $20.8 billion. Meanwhile, Wells Fargo set aside $1.21 billion in the quarter to cover for potential loan losses, compared to a release of $787 million a year earlier. "While most consumers remain resilient, we've seen some consumer financial health trends gradually weakening from a year ago," Mike Santomassimo, Wells Fargo finance chief, told analysts.
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