News Topic: Earnings

The broadening of JPMorgan's Sapphire Reserve brand is emblematic of the niche expansion megabanks must rely on since bank M&A is not an option. ... Read full article

The Tennessee regional said the sale should boost quarterly profit by $160 million. ... Read full article

Women managers in the Well Fargo’s wealth management division say they are being passed up for promotions; TD Bank's U.S. retail division saw profit jump 27% in fiscal Q3. ... Read full article

Bank of Montreal set a profit record for its U.S. business, thanks in part to Donald Trump's tax cuts and lower provisions for bad loans. ... Read full article

The CFPB nominee wins approval from the Senate Banking Committee by a 13-12 vote; the country is looking to borrow $11 billion after Aramco IPO is delayed. ... Read full article

A huge chunk of the profit increase in the second quarter was due to a lower tax rate, but rising net interest margins and loan growth signal that institutions continue to derive revenue from their loan book. ... Read full article

The industry’s profit was $60.2 billion, a more than 7% increase from the previous record set in the first quarter and a 25% leap from a year earlier, the agency said in its quarterly report on the industry's health. ... Read full article

A deceleration in mortgage balances ends CIBC's three-year streak of outpacing Canada's other large lenders on mortgage growth. Royal Bank of Canada said this week that mortgage balances were 5.9% higher than a year earlier. ... Read full article

Canadian banks will likely report profit gains of as much as 10% in the third quarter as four rate increases by the Bank of Canada make consumer and commercial loans more profitable. ... Read full article

The president's suggestion that public companies report financial results twice a year instead of quarterly might win nods of approval from CEOs, but it’s unlikely to fly with investors. Still, there’s room for reforms to reporting practices, some ... Read full article

The marketplace lender recorded an impairment charge tied to the acquisition of a specialty lending business and is still being hit with costs stemming from the scandal that toppled its previous CEO. ... Read full article

With Blankfein retiring, the JPM chief will be the last crisis-era big bank CEO still in charge; earnings and big payouts are boosting bank equity prices. ... Read full article

The charge calls into question the speed of the turnaround under CEO Brian Duperreault; the payout will be the Scottish bank’s first since the financial crisis. ... Read full article

Fannie Mae’s treatment of a reperforming loan package helped drive up earnings by almost 41% to $4.5 billion, delivering a stronger dividend to Treasury ahead of a leadership change. ... Read full article

The $2.1 billion settlement is likely to be the last of the big toxic mortgage cases from the financial crisis; the move pressures rivals to lower prices. ... Read full article

Freddie Mac produced modest second-quarter results, reflecting a stabilizing business that CEO Donald Layton compared to a utility company. ... Read full article

Its noninterest expense rose 17% from a year earlier, in part because of costs stemming from its recent overdraft protection settlement with federal regulators. ... Read full article

A smaller tax bill and a double-digit growth in card loans offset weakening credit quality at the Riverwoods, Ill., company. ... Read full article