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...Bank of America’s profits fell 18 per cent in the first quarter, dragged down by a jump in potential loan losses and additional expenses tied to last year’s regional banking crisis....
...JPMorgan Chase captured almost a fifth of all US bank profits in the first nine months of 2023, capitalising on a year of turmoil for the country’s financial sector to emerge even more dominant....
...Romance scams — in which fraudsters latch on to people looking for love — rose by over a fifth in 2023, underlining the growing appeal of this highly manipulative form of fraud to criminals....
...BofA disclosed the slowdown in loan growth as it reported first-quarter profits fell almost a fifth, while it set aside an additional $1.3bn for losses on its current loan portfolio, or 19 per cent more...
...Sterling extended early losses against the dollar to trade down 0.4 per cent on the day at $1.273 after the Bank of England held rates at a 16-year high of 5.25 per cent for the fifth consecutive meeting...
...The Bank of England has kept interest rates on hold at 5.25 per cent for the fifth successive meeting, as evidence grows that inflation is falling....
...European stocks notched a fifth consecutive week of gains as investors continued to shrug off comments from European Central Bank President Christine Lagarde, who said on Thursday there was “more work to...
...As a result, the Stoxx Euro Banks index has burst into life since mid-February, up nearly a fifth, far ahead of the broader Stoxx 600. As yet, lenders’ newfound generosity does not look sustainable....
...Vladimir Putin is seeking a fifth term in office. He will get it. Read more background on this week’s poll from my colleague Courtney Weaver....
...Canada’s central bank held interest rates at 5 per cent for the fifth consecutive meeting, opting to continue scrutinising inflation data before easing monetary policy....
...Shares of ICBC, the largest state-owned lender, are up a fifth in the past year. Yet they still trade at just 0.4 times its tangible book value, a fraction of that of its regional peers....
...Operating profit was up by nearly a fifth to £146mn, but the firm said this was driven by “one-off property related income”....
...Fifth, data and research prove higher capital levels lead to more lending through the ups and downs of the economic cycle and that real capital should be in the 20-30 per cent of risk weighted assets range...
...For further reading: JPMorgan takes almost a fifth of total US bank profits US regional banks hope for profit revival as pain from SVB fallout eases JPMorgan: the bank that never lets a crisis go to waste...
...World stock prices have rallied a fifth since October, anticipating an inflection point for interest rates. That hope has already dimmed....
...The fifth recommendation is extraordinary....
...Investment bank PJT Partners and law firm Weil, Gotshal and Manges have been appointed as financial and legal advisers to the committee....
...Governor Andrew Bailey said things were “moving in the right direction” on inflation after the BoE’s Monetary Policy Committee kept the benchmark rate at its 16-year high for the fifth successive time....
...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...
...Turkey has raised interest rates for the fifth time since June as the country steps up its battle against inflation and the threat of escalating conflict in the Middle East poses a fresh challenge to policymakers...
...If Orcel does hand another €10bn to investors this year, a fifth of the current market value, there is plenty of room to re-rate higher....
...Cutting Edge Group (CEG), a music financier, publisher and record label based in London, has secured $500mn from a syndicate of four banks, led by US lender Fifth Third Bank and Northleaf Capital....
...HSBC shares are up a fifth from its March low and trade at tangible book value, a 70 per cent premium to StanChart....
...It would mark the fifth successive meeting that the rate is held unchanged, after 14 consecutive increases....
...The appointment comes at a turbulent time for the bank, which in November last year announced a restructuring plan that includes cutting a fifth of its staff and a push for greater digitalisation in an effort...
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