Charles Schwab’s first-quarter profit fell 15% as higher interest on clients’ deposits and its borrowings offset gains from a surge in asset management fees, the brokerage said on Thursday.
Growth in Spanish banks’ lending income is expected to slow down in 2024 due to a gradual increase in deposit remuneration, while bad loans could rise due to the economic impact of global geopolitical tensions, the Bank of Spain warned on Monday.
Goldman Sachs’ profit beat Wall Street estimates, fueled by a recovery in underwriting, deals and bond trading in the first quarter that lifted its earnings per share to the highest since late 2021.
M&T Bank posted a 25% drop in first-quarter profit on Monday as higher deposit costs reduced its interest income, and a turmoil in the commercial real estate (CRE) industry prompted it to set aside more rainy-day funds.
British fund manager Ashmore’s shares slid by 2.4% on Monday after it reported a drop in assets under management owing to choppy risk appetite and mixed results from emerging markets.
The Swiss government’s proposed tougher capital requirements for the banking industry will impact UBS’s ability to grow, the country’s finance minister said in an interview published on Saturday.
New York Community Bancorp on Friday named banking industry veteran Craig Gifford as its finance chief to succeed John Pinto, as it tries to shore up investor confidence after disclosing faults in its financial reporting earlier this year.
A year after Silicon Valley Bank’s failure, less than half of U.S. banks have established borrowing capacity by pledging collateral at the Federal Reserve’s emergency lending facility, according to Fed data released on Friday.
The uncertain trajectory of interest rates is making it hard for U.S. banks to forecast profits and leading some to adopt a cautious stance for the remainder of the year.
Stripe said on Friday it had raised $694.2 million in the tender offer it had announced in February, when it agreed to let employees sell some of their shares in a deal that valued the fintech giant at $65 billion.
