News Topic: Earnings

The Minneapolis company said 75% transactions have been handled online since the pandemic hit. ... Read full article

The Pittsburgh bank says fewer borrowers are asking for help and that many borrowers who received assistance are making payments again. But with the coronavirus pandemic still raging in much of the country, CEO William Demchak and other bankers are ... Read full article

Goldman Sachs Group made the most of a historic market rebound in the second quarter as the Federal Reserve’s stimulus efforts handed a bonanza to Wall Street trading desks. ... Read full article

Home purchases in markets outside of cities accounted for some of the San Francisco bank's loan growth. Executives believe this will be a long-term trend because a generous supply of inventory in less populated areas will appeal to buyers. ... Read full article

Net charge-offs fell at Citigroup and Wells Fargo, thanks to forbearance and federal stimulus. Leaders of those banks are warning that delinquencies could rise once the benefits of those programs wear off. ... Read full article

The firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults. ... Read full article

The results show how Wall Street giants such as Citigroup leaned on volatile businesses in the second quarter to counter mounting signs of distress from lending operations. ... Read full article

The country's largest bank said second-quarter profit fell 51% to $4.69 billion, a smaller drop than forecast, as record trading revenue helped counter the biggest loan-loss provision in its history. ... Read full article

The Federal Reserve's extraordinary effort to keep credit flowing to companies during the COVID-19 pandemic is also shunting money to banks' bottom lines. ... Read full article

While elevated loan-loss provisions are expected to eat into all banks’ earnings, midsize banks could suffer more than their big-bank rivals because they have fewer revenue drivers. Meanwhile, investors will be watching closely for any signs of dividend ... Read full article

Jelena McWilliams explains the agency's decision to enlist the help of tech innovators to modernize a reporting process that the coronavirus epidemic has exposed as outdated. ... Read full article

The so-called tech sprint involving 20 companies from across the country is intended to help improve the efficiency of banks' quarterly data submissions to the regulators. ... Read full article

With multiple business sectors reeling from the pandemic, banks are facing tighter net interest margins, provisioning more for losses and seeing their balance sheets expand, the agency said in a report. ... Read full article

The bank joins rivals such as Deutsche Bank AG and UniCredit SpA in forging ahead with job cuts that were put on hold at the outset of the pandemic. ... Read full article

In one of the first comprehensive analyses of how the banking industry was affected by the onset of the coronavirus pandemic, the agency said quarterly income fell by nearly 70% from a year earlier. ... Read full article

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out. ... Read full article

Past is not prologue, and a successful strategy for becoming a top-performing bank in 2020 is very different than it might have been just six months ago. ... Read full article

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations. ... Read full article