Fitch: U.S. Credit Card Losses Nearing Bottom Although Industry Earnings Will Decline Further
NEW YORK--(BUSINESS WIRE)-- Segment earnings will decline most U.S. credit card issuers over the remainder of 2012 due to higher provision expenses, despite net-charge off rates hitting the lowest
Fitch: U.S. Credit Card Losses Nearing Historical Norms
NEW YORK--(BUSINESS WIRE)-- In a Special Report released today, Fitch Ratings noted that U.S. credit card loss metrics showed continued improvement during the first quarter of 2011 (1Q'11), with
JPMorgan's Q1 revenues weak, earnings growth strong
JPMorgan Chase (NYSE: JPM) kicked off the first quarter earnings round with a strong upside surprise, which may or may not bode well for other banks. The bank posted earnings of $5.6 billion, or
Credit card improvement at Bank of America?
Bank of America (BAC) credit card losses fell last month. In a filing the bank said its annual net charge-off rate for U.S. cards fell to 13.25 percent last month from 13.53 percent in December.
Banks face pressure to hike loss reserves
There's been a lot of near-euphoria over the strong bank earnings posted by the likes of Goldman Sachs, JPMorgan Chase and even Citigroup and Bank of America. But most people realize that in the case
Be wary of rosy bank earnings estimates
The Federal Deposit Insurance Corp. has reported that the banking industry earned a $7.6 billion profit in the period from January to March--an ostensibly big rebound from the record loss of $36.9
Goldman Sachs more bullish on banks
The frenzy of capital raising that we're now seeing is cause for optimism among Goldman Sachs financial analysts. They have upgraded large U.S. banks to "neutral." Bank of America now ranks as a
Ready for big credit card losses?
One big question about the analytical underpinnings of the stress tests: The assumed correlation between unemployment and credit card write-offs. There's no doubt there's a strong relationship. The
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