Corrects headline and first sentence to show that Deutsche Bank corrects to say that Capital Group holdings total less than 5%, not more than 7%. In 2nd paragraph, Deutsche Bank updates its statement to show that Capital Group has not crossed the 5% threshold. Oct 13 (Reuters) – U.S. investor […]
Bank
Big bank profits are about Wall Street, not Main Street
You’d expect the biggest US banks to be having a tough time right now. © Erik McGregor/LightRocket/Getty Images MANHATTAN, NEW YORK, UNITED STATES – 2020/10/02: Main entrance at JPMorgan Chase headquarters in New York City. (Photo by Erik McGregor/LightRocket via Getty Images) Interest rates are at historic lows, hurting their […]
Bank of America profit falls 15.6% in third quarter
Consumer banking giant Bank of America says third-quarter profits declined 15.6% from a year earlier, but the bank saw less need to put aside money to cover potentially bad loans, citing improvements in the U.S. economy By KEN SWEET AP Business Writer October 14, 2020, 11:56 AM • 2 min […]
SkyView Adds Investment Bank and BD, Becoming One-Stop M&A Shop
Scott Wetzel’s SkyView Partners announced Monday that the company has acquired Manhattan Beach, Calif.-based investment bank Grand Avenue Capital Partners, a FINRA-registered broker/dealer, and brought in DeVoe & Company veteran Nick Arellano to run it. This gives SkyView, which has been able to display which shops are available for purchase via its Advisory […]
JPMorgan, Wells Fargo, Citigroup and Bank of America are part of Zacks Earnings Preview
For Immediate Release Chicago, IL – October 12, 2020 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes JPMorgan Chase & Co. JPM, Wells Fargo & Company WFC, Citigroup Inc. C and Bank of America Corporation BAC. Are Bank Stocks Cheap or Value […]
Bank Of America: About To Report, But We Like It (NYSE:BAC)
Prepared by Stephanie, analyst at BAD BEAT Investing Bank of America (NYSE:BAC) was a top pick in the financial sector for us for the year 2018. As the year came to a close, we turned a bit bearish, only to watch the stock fade hard to start 2019. It was […]
Deutsche Bank Says Top Investor Capital Group Raises Stake
(Bloomberg) — Deutsche Bank AG said Capital Group, already a top investor in the German lender, raised its stake in a sign of confidence in Chief Executive Officer Christian Sewing’s turnaround plan. © Bloomberg Sunlight reflects off the Deutsche Bank AG twin tower headquarters, right, beside the Frankfurter Sparkasse Tower […]
Why First Republic Bank (FRC) Stock is a Compelling Investment Case
Ensemble Capital recently released its Q3 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 11.60% for the third quarter, outperforming its benchmark, the S&P 500 Index which returned 8.93% in the same quarter. You should check out Ensemble Fund’s top 5 […]
Hoping to be LatAm’s top digital bank for SMBs, Xepelin launches a lending and revenue management service
There’s another entrant in the startup race to provide financial services to Latin America’s small and medium-sized businesses. Financial services have been a huge opportunity for startups coming out of Brazil, Colombia and Mexico in recent years, and now Xepelin, a new company from Chile, is looking to join the […]
Eni seeks World Bank arbitration in Nigeria oilfield dispute
By Stephen Jewkes and Libby George MILAN/LAGOS, Oct 13 (Reuters) – Eni ENI.MI has filed a request for arbitration against Nigeria at the World Bank’s dispute settlement body and plans to argue that the country’s failure to allow it to exploit an oilfield it acquired with Royal Dutch Shell RDSa.L […]
Rupiah sellers probe 50-day SMA ahead of Bank Indonesia Rate decision
USD/IDR keeps bounces off 200-day SMA, nears one week high of 14,795 flashed recently. BI is likely to keep 7-day reverse repo at 4.0% for the fourth consecutive time. 13-day-old resistance line joins 50-day SMA to challenge the bulls. The key Fibonacci retracements can lure sellers below 200-day SMA. USD/IDR eases […]
Buy Bank of Nova Scotia (TSX:BNS) Right Now
Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) is neither the largest nor the most well known of Canada’s big banks. It is, however, an intriguing investment option whose appeal has only grown since the onset of the COVID-19 pandemic. Here’s a look at what differentiates the bank from its peers and why […]
What you didn’t know about Sandeep Bakhshi, ICICI Bank Chief
Sandeep Bakhshi, ICICI Bank’s MD & CEO, is a staunch believer in creating value for all stakeholders. Under his leadership, the bank has been following the guiding philosophy of ‘Fair to Customer, Fair to Bank’, emphasizing the need to deliver on the promise of a fair value proposition for customers […]
Saudi Arabia’s National Commercial Bank to buy rival Samba in deal worth nearly $15 billion
ASSOCIATED PRESS Load Error Associated Press DUBAI, United Arab Emirates — Saudi Arabia’s National Commercial Bank said Sunday it will purchase rival lender Samba Financial Group in a deal valued at $14.8 billion, creating what would become the kingdom’s largest bank. The bank will control some $223 billion in assets […]
5 Top Bank Stocks to Buy Ahead of Q3 Earnings
In the first half of this year, most banks bore the brunt of a flat yield curve and mounting loan defaults due to the coronavirus pandemic. To top it, the supervisory bodies restricted payment of dividends and share buybacks. But now, banks are set to report third-quarter earnings this […]
U.S. bank stocks are fine, if you are rich in patience
(Reuters) – The U.S. bank sector has been pummeled this year but investors hunting for bargains there may need deep reserves of patience as banks are particularly sensitive to low interest rates, the uneven economic recovery and the muddy stimulus outlook. FILE PHOTO: A woman counts U.S. dollar bills at […]
Top Analyst Raises Price Targets on 4 High Dividend-Paying Bank Stocks
When the market blew up during the great financial crisis of 2007 to 2009, the bank and brokerage stocks were in part ostensibly the reason for the collapse, as they had aided and abetted the mortgage crisis. Two major brokerage firms went out of business, and Merrill Lynch was bought […]
Bank of Korea seen holding rates this week and for the rest of 2020
SEOUL (Reuters) – South Korea’s central bank is expected to keep its interest rates on hold on Wednesday as its concerns over rising household debt and property prices would most likely put a bar on any policy changes. FILE PHOTO: The logo of the Bank of Korea is seen on […]
Saudi’s National Commercial Bank buys Samba in $14.8B deal
DUBAI, United Arab Emirates (AP) – Saudi Arabia’s National Commercial Bank said Sunday it will purchase rival lender Samba Financial Group in a deal valued at $14.8 billion, creating what would become the kingdom’s largest bank. The bank will control some $223 billion in assets and a market capitalization of […]
How your bank savings can help save the planet | Economy News
The Global Returns Project aims to use a small percentage of people’s savings to help groups fighting climate change. You may not know it, but the savings sitting in your bank account are likely contributing to the climate crisis, since major financial institutions regularly extend financing to fossil-fuel companies and […]