Royal Bank of Canada got an earnings boost from its U.S. capital markets business and its ownership of City National Bank in Los Angeles, helping to offset softer growth at home.
The FDIC's Quarterly Banking Profile was mostly good news for banks, showing higher profits and lower noncurrent loans, but loan growth remains a worry. Following is a detailed look at some of the insights into bank earnings.
Bank earnings leaped to $44 billion in the first quarter, a 12.7% increase from a year earlier, but loan growth marked its first quarterly slowdown since 2013.
James Donovan cites family matters for withdrawing his name from being named Deputy Treasury Secretary; strong earnings from the Big Five may ease concerns about Canada's overheated housing market and consumer debt.
The Pasadena, Calif., firm also reported growth in the number of active prepaid cards for the first time since the second quarter of 2015. Profits rose by 24%.
Once focused mainly on growth, the New York-based small-business lender said it will lay off employees and cut other expenses in an effort to become profitable. The moves are a sign of waning patience among investors in the once-frothy sector.
In an attempt to show it went all out to help struggling homeowners, the embattled mortgage servicer Ocwen Financial provided an unusual level of detail about foreclosures it says regulators have deemed "inappropriate."
