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...Shares of PacWest have plunged more than a third since mid-March....
...Profits in the US banking sector reached an all-time high of roughly $80bn in the first quarter, up 33 per cent from a year ago, even as the industry contended with the aftermath of two bank failures and...
...Healthcare deals accounted for nearly a fifth of deals, reaching a two-year high in the period, boosted by the top transaction of the quarter — Pfizer’s $43bn acquisition of oncology-focused biotech Seagen...
...The latest fall in NYCB’s stock was not echoed in the wider regional banking sector. The KBW Regional Bank index, which includes NYCB, closed down just 0.4 per cent on Wednesday....
...Tim Spence, chief executive at Fifth Third Bank, based in Cincinnati, Ohio, said the competition for deposits remained “robust”, but that banks were no longer having to offer customers such generous terms...
...Deposit Insurance Corporation last year....
...That suggests Japanese banks’ total exposure to such US office loans is about ¥1.08tn and means Aozora’s represents about a fifth of the total....
...“The yen is having an impact, but it is going two ways....
...Deposits at Fifth Third, Huntington and KeyBank, midsized lenders with roughly $200bn in assets each, fell less than 3 per cent in the third quarter....
...Berkshire also disclosed it had cut its stake in oil major Chevron by about a fifth, selling roughly 35mn shares between its own accounts and an investment portfolio managed by a subsidiary....
...“An inverted yield curve is never good for banks.”...
...PNC Financial, Truist, Fifth Third Bancorp, M&T Bank, Huntington Bancshares, Comerica, Zions Bancorp, US Bancorp, Citizens Financial, Regions Financial and Key Corp all delivered year-on-year growth in quarterly...
...Since the passage of the IRA last year, foreign investors have accounted for two-thirds of investment in large-scale electric vehicle and battery projects, according to an FT analysis....
...Attijariwafa Bank, Banque Centrale Populaire and Bank of Africa, all headquartered in Casablanca, control more than a fifth of banking assets in west Africa....
...Rinse and repeat with the next regional bank people feel anxious about, perhaps PacWest or Zions Bancorp....
...Today it is the turn of Huntington Bancshares, Fifth Third Bancorp and KeyCorp to update investors on their first-quarter performance....
...Signature’s sudden collapse was an early casualty of the turmoil now sweeping across the banking sector....
...The interest in lenders including Citizens Financial and KeyBank, as well as Charles Schwab, an investment group with a banking licence, reflects the trouble facing midsized lenders....
...From Ohio to California Herbert grew up in Coshocton, Ohio, where his father worked at Coshocton National Bank....
...A bank run torpedoed SVB in March, sparked by an announcement that it had lost $1.8bn in selling part of its securities portfolio....
...Some big lenders, including Bank of America, declined to participate but ultimately four of the 20 largest US banks by assets emerged as leading bidders: PNC, Citizens Bank, Fifth Third and JPMorgan, which...
...Rex International Holding, which leads the fifth FT/Statista annual ranking of high-growth Asia-Pacific companies, and NW Corporation in second place, are part of the city-state’s booming energy industry...
...“Profitability issues will apply to the whole banking sector, albeit in different magnitudes,” says Eric Compton, an equities strategist for Morningstar Research....
...Just over two-fifths of US CRE loans are held by banks, according to JPMorgan....
...On top of this, there is an existing bank levy on certain liabilities. With corporation tax set to rise to 25 per cent, even a reduction in this surcharge will mean an increase....
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