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...“The financing gap is staggering, it’s trillions, but you don’t hear about trillions coming into the continent, it’s just trickling in,” Hassatou Diop N’Sele, vice-president of the African Development Bank...
...Rocket Company, owner of Quicken Loans, the country’s largest non-bank mortgage lender, is up 66 per cent since November....
...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...Despite this, in recent days executives from the country’s four largest banks — JPMorgan Chase, Bank of America, Citigroup and Wells Fargo — said during earnings calls that consumers were resilient....
...Larger banks such as JPMorgan Chase, Bank of America and Wells Fargo also saw their profits fall in the final quarter of 2023....
...Last year, Wells Fargo signed a deal to lend billions to a new credit fund run by Centerbridge, a $40bn private equity firm that led the buyouts of restaurant chain P.F....
...Wells Fargo’s bank analyst Mike Mayo has a well-deserved (if not entirely unblemished) reputation for being an unusually acerbic member of the “great quarter guys!” industry....
...JPMorgan Chase, Citigroup and Wells Fargo were all able to charge more on loans while increasing payouts on deposits more slowly....
...Analysts are forecasting that JPMorgan and Wells Fargo will be the only banks whose profits rose in the third quarter compared to a year earlier, according to consensus data compiled by Bloomberg....
...Big consumer banks such as JPMorgan Chase and Wells Fargo have been able to charge more for loans as the Fed has lifted benchmark interest rates to a 22-year high, without having to pass on commensurately...
...JPMorgan Chase, Citigroup and Wells Fargo collectively earned $49bn in net interest income in the second quarter, the difference between what the banks pay for deposits and earn from loans and other assets...
...Citi is a lesser player in small business lending compared with rivals such as JPMorgan Chase and Wells Fargo....
...The latest bank looking to crack into private credit is Citigroup. It follows the likes of JPMorgan Chase, Barclays, Rabobank, Wells Fargo, Société Générale and Deutsche Bank....
...The move is the latest attempt by JPMorgan to beef up its legal wealth management business after two decades of trying to break the grip of Citi in New York, as well as that of Wells Fargo, which dominates...
...Net interest income in the quarter rose 16 per cent from a year ago to nearly $14bn, compared with 44 per cent and 29 per cent at JPMorgan and Wells Fargo, respectively....
...This month, US homebuilder confidence slipped for the first time this year according to an index compiled by the National Association of Home Builders and Wells Fargo....
...They have struggled to compete with big Main Street lenders such as JPMorgan Chase, Bank of America and Wells Fargo. Over the past two years, BBVA of Spain sold its US retail business to PNC....
...This sumptuous show will feature rare loans as well as original items of clothing alongside the relevant work of art....
...Results from JPMorgan, the largest US bank by assets, as well as Citigroup and Wells Fargo, underscored how the largest lenders are benefiting from higher interest rates by charging more for loans without...
...The nation’s four largest lenders — JPMorgan Chase, Bank of America, Wells Fargo and Citigroup — hold about 45 per cent of all bank deposits in the US, but represented less than 10 per cent of the outflows...
...JPMorgan Chase, Bank of America, Citigroup and Wells Fargo together generated interest income for the final quarter of 2022 of almost $60bn, up 30 per cent from a year ago, according to analysts’ estimates...
...UWM had a smaller gain. The margin lift hints at some stabilisation of their businesses. But discounting for market share has risks. Non-banks fund their loans with borrowings, not cheaper deposits....
...JPMorgan Chase, Wells Fargo, Citigroup and Morgan Stanley kicked off the third-quarter earnings season for Wall Street banks on Friday. The headline numbers made for worrying reading....
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