News Topic: Earnings

Lending slowed, credit allowances mounted and return on assets as well as other performance ratios weakened, according to year-end figures from the credit union regulator. ... Read full article

Citigroup restated fourth-quarter results after writing down a portion of a loan to Revlon it now owns after losing a court battle. ... Read full article

Bank of America will book a $400 million expense in the first quarter to account for a change in bonus policies that sparked anger among high earners. ... Read full article

The fintech that gave life to the mobile point of sale market is seeing that business overshadowed by the ever-rising popularity of cryptocurrency. ... Read full article

Banks lowered their loss provisions at the end of 2020, a sign they feel better about this year than last year, according to data from the FDIC. But loan balances fell for the second straight quarter and the annual loan growth rate was the lowest in seven ... Read full article

Prepaid customers’ COVID relief spending boosted the bank’s bottom line in 2020, but executives don't count on a repeat performance. ... Read full article

New data from the state regulator shows gains across several key metrics even as allowances for loan losses surged and the loan-to-savings ratio fell by more than 10 points. ... Read full article

Net income and loan volumes at the Michigan-based credit union were both down in 2020 but noninterest income shot up 41% thanks in part to participation in the Paycheck Protection Program. ... Read full article

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity. ... Read full article

Its success was driven by its support for buying and selling cryptocurrencies, and its entry into the buy now/pay later market. ... Read full article

Some big banks trimmed their stockpiles that guard against loan losses in the fourth quarter, but overall allowances fell less than many observers predicted. The trend will likely continue given uncertainties surrounding vaccine distribution and the ... Read full article

Long hours by bankers and the streamlined resolution of Paycheck Protection Program loans helped lenders collect more fees than anticipated in the fourth quarter. It was a rare bright spot at a time when revenue is being pinched. ... Read full article

Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic. ... Read full article

Bank of New York Mellon, State Street and Northern Trust have even more reason to slash costs than commercial banks because their options to boost revenue are more limited. Problem is, they also have fewer cost-cutting options. ... Read full article

The company also reported a large fourth-quarter loss that reflected a significant increase in its loan-loss provision. ... Read full article

The company wants to join in on the rush to develop stablecoins and central bank digital currencies, in part to show that it can still be a player in cutting-edge technologies after its merger deal with Plaid fell through. ... Read full article

The banker, who led the 2013 recapitalization that created Byline, will replace a longtime colleague who will continue to run the company's bank. ... Read full article

Capital One Financial is the latest credit card issuer to release loss reserves because its loans have performed better than expected during the pandemic ... Read full article