Tag: bad loans

Citigroup Q2 profits surge 24%

Citigroup Q2 profits surge 24%

US banking giant Citigroup reported a 24% rise in second quarter profits as losses were reduced from bad loans. The bank, which is in the third largest in the US, reported net income of $3.34 billion (£2.07 billion) in the three month period to the end of June. The results beat market forecasts and represented [...]

July 18, 2011 | 0 Comments More
Santander reports fall in net profits

Santander reports fall in net profits

Spanish banking giant Santander has today reported a fall in 2010 net profits, due to changes on bad loan provisions. The bank, which is the euro zone’s largest, said net income fell to €2.1 billion from €2.2 billion a year earlier. Before the changes to one-off provisions, which were put in place as a precautionary [...]

February 3, 2011 | 0 Comments More
Santander hit by bad loan provisions

Santander hit by bad loan provisions

Spanish banking giant, Santander, has today reported a fall in third quarter profits, due to changes on bad loan provisions. The bank, which is the euro zone’s largest, said third quarter profits fell 13% to €2.1 billion (£1.8 billion) as provisions for bad loans hampered results. Before the changes to one-off provisions, which were put [...]

October 28, 2010 | 0 Comments More
Citigroup unveils Q3 results

Citigroup unveils Q3 results

US banking giant Citigroup has today revealed a third quarter profit of $2.2 billion (£1.4 billion) - beating market forecasts and compares with $101 million in the same period a year ago. Meanwhile, provisions for bad loans fell to $5.9 billion for the July to September period compared with $6.7 billion in the second quarter [...]

October 18, 2010 | 0 Comments More
Banking recovery continues as Lloyds Banking Group returns to profit

Banking recovery continues as Lloyds Banking Group returns to profit

Lloyds Banking Group, which is 41% owned by the Government, has today reported it returned to profit in the first six months of 2010, revealing profits of £1.6 billion, against a loss of £4 billion a year earlier. The rise in profits was primarily due to reduced writedowns with bad loans falling from £13.4 billion [...]

August 4, 2010 | 0 Comments More
BoA reports Q1 profits

BoA reports Q1 profits

Bank of America (BoA) has today reported its first quarter earnings, rising 0.7% to $2.83 billion (£1.83 billion) from $2.81 billion a year ago, boosted by record sales and trading activity at its investment bank, as well as its acquisition of Merrill Lynch. However, the bank posted a $2.1 billion loss in its home mortgage [...]

April 16, 2010 | 0 Comments More
IMF: Recovery ahead but risks remain

IMF: Recovery ahead but risks remain

The International Monetary Fund’s (IMF) Global Financial Stability Report has provided a positive assessment of the global economy. It has cut its amount likely to be written off globally in bad loans and investments by $600 billion to $3.4 trillion (£2.1 trillion). According to the IMF, co-ordinated efforts by Governments and Central Banks have helped [...]

September 30, 2009 | 0 Comments More