U.S. brokerage firm Charles Schwab reported a smaller-than-expected drop in second-quarter profit on Tuesday as a jump in asset management fees helped soften the hit from a decline in interest revenue.
U.S. bank regulators are set to release their plans next week for a sweeping overhaul of capital rules, with the latest draft including requirements for large lenders’ residential mortgages that go beyond international standards, Bloomberg News reported on Monday.
Mitsubishi UFJ Financial Group (MUFG) and Morgan Stanley said on Tuesday they will deepen their 15-year old alliance by combining some operations at their Japanese brokerage joint ventures.
PNC Financial Services Group on Tuesday cut its forecast for full-year net interest income (NII), casting a shadow over the lender’s second-quarter earnings beat.
Morgan Stanley’s profit slipped 14% in the second quarter from a year earlier as a deal-making slump persisted, while trading in stocks and bonds weakened.
New York City’s top pension official has urged Bank of America’s board to claw back pay from executives after the bank agreed to pay $250 million to settle regulatory claims that it double-charged customers and took other steps without authorization.
Bank of America beat Wall Street estimates for second-quarter profit on Tuesday as it earned more from customers’ loan payments, while its investment banking business and trading fared better than expected.
India’s IndusInd Bank reported a bigger-than-expected rise in first-quarter profit on Tuesday, lifted by strong loan growth and a drop in provisions for bad loans.
Credit card company Synchrony Financial beat second-quarter profit estimates on Tuesday, as the U.S. Federal Reserve’s rapid rate hikes helped boost interest earned from borrowers, offsetting a hit from bigger rainy-day funds.
Bank of New York Mellon Corp beat Wall Street targets for second-quarter profit on Tuesday as the U.S. Federal Reserve’s aggressive policy tightening boosted income earned from interest payments on loans.
