Tag: US banks

Euro debt crisis impacts on Goldman Sachs Q3 results

Euro debt crisis impacts on Goldman Sachs Q3 results

US banking giant Goldman Sachs has today reported a fall in third quarter profits. Goldman Sachs, which is the US’ largest investment bank, made a net loss of $393 million (£250 million) for the third quarter compared with profits of $1.9 billion a year earlier. The bank said trading was “significantly impacted” by the euro [...]

October 18, 2011 More
Goldman Sachs profits down 21%

Goldman Sachs profits down 21%

Goldman Sachs, which is the fifth largest US bank, today reported first quarter profits were 21% lower compared with a year ago. The banking giant said net income dropped to $2.74 billion (£1.7 billion) from $3.46 billion a year earlier. However, the results were better than analysts expected. In other news today, Bank of New [...]

April 19, 2011 | 0 Comments More
Bank of America posts $1.2bn loss in Q4

Bank of America posts $1.2bn loss in Q4

The Bank of America has today reported its second consecutive quarterly loss - primarily due to the writedown of its mortgage business, Countrywide. The bank, which is the largest in the US by assets, today disappointed analysts with a fourth quarter net loss of $1.24 billion (£775 million), compared with a $5.2 billion loss a [...]

January 21, 2011 | 0 Comments More
Morgan Stanley shares up on results

Morgan Stanley shares up on results

US banking giant Morgan Stanley has today reported its second quarter results with net profit totalling $1.4 billion (£917 million), compared with a loss of $138 million in the same period a year ago. The Wall Street firm also said it saw a 53% increase in revenues of $7.95 billion compared with the same period [...]

July 21, 2010 | 0 Comments More
Goldman Sachs reports sharp fall in profits

Goldman Sachs reports sharp fall in profits

US banking giant Goldman Sachs has today announced profits dived 82% in the second quarter to $453 million. The figures represented the worst quarter since the height of the financial crisis - almost two years ago and were hit by the British bonus levy and a US fraud settlement. Commenting, Lloyd Blankfein chief executive, said: [...]

July 20, 2010 | 0 Comments More
Global markets in decline after Obama proposals

Global markets in decline after Obama proposals

US President Barack Obama is proposing a severe crackdown on financial institutions in the US which has sent stock markets around the globe into decline. Yesterday, the Dow Jones closed down 2% - its worst decline since October, while Japan’s Nikkei lost 3.6% - the biggest weekly loss in three months and closing a three-week [...]

January 22, 2010 | 0 Comments More
Goldman Sachs results beat expectations

Goldman Sachs results beat expectations

Wall Street bank Goldman Sachs has today reported its fourth quarter results with net profits at $4.95 billion (£3.06 billion) compared with a loss of $2.12 billion in the same period a year earlier. For the 2009 year, the bank made a net profit of $13.39 billion, up from $2.32 billion in the previous year. [...]

January 21, 2010 | 0 Comments More
Bank of America unveils $1bn Q3 loss

Bank of America unveils $1bn Q3 loss

Bank of America has today unveiled a $1 billion (£612 million) net loss for the third quarter - worse than the market had expected. The figure compares with a net profit of $3.2 billion in the second quarter and $1.2 billion in the same period a year earlier. The banking giant is the fourth major [...]

October 16, 2009 | 0 Comments More
Goldman Sachs and Citigroup announce results

Goldman Sachs and Citigroup announce results

There has been mixed news today across the Atlantic after banking giant Goldman Sachs exceeded analysts expectations while Citigroup posted a quarterly loss. Goldman Sachs said net earnings for the third quarter were $3.19 billion (£1.96 billion), compared with $845 million in the same period a year ago (prior to the collapse of Lehman Brothers). [...]

October 15, 2009 | 0 Comments More
Citigroup & Bank of America exceed market expectations

Citigroup & Bank of America exceed market expectations

Citigroup and Bank of America have surprised analysts by reporting better than expected second-quarter results. Results from both banks have followed hot on the heels of strong results from fellow US Banking giants, JPMorgan Chase and Goldman Sachs. Citigroup posted a $4.3 billion second quarter profit due to gains on its Smith Barney deal. However, [...]

July 17, 2009 | 0 Comments More
Citigroup and Bank of America need more funds to cover losses

Citigroup and Bank of America need more funds to cover losses

There are suggestions that the financial turmoil is still in full swing after US banking giants, Citigroup and Bank of America, have been instructed to raise billions of dollars of extra capital to cover future losses, according to the Wall Street Journal. The findings were uncovered following US Government stress tests on both banks, carried [...]

April 28, 2009 | 1 Comment More
JPMorgan Chase announces $5.1 billion sub-prime write-down

JPMorgan Chase announces $5.1 billion sub-prime write-down

Wall Street bank, JPMorgan Chase, announced a 50% fall in its first quarter profits as the bank was hit by a $5.1 billion (£2.5 billion) sub-prime write-down. Revenue for the first quarter fell by 11% to $16.9 billion, marginally ahead of analysts who were expecting turnover at $16.8 billion. America’s third biggest bank, which bailed [...]

April 17, 2008 | 0 Comments More