Tag:
Loan Loss Reserve
Latest Headlines
Latest Headlines
Citigroup CEO proposes a way to compare financial risks
Citigroup CEO Vikram Pandit has generated mild applause for his idea on a new system that would allow for better comparison of banks when it comes to risk.
As Breakingviews describes it, "Pandit is championing an idea to make it easier to compare the way banks assess risk. To accomplish th
Upcoming earning to be like Citi or JPMorgan
We've had two of the big bellwether banks report so far, and the results have been mixed.
Citigroup delivered an upside earnings surprise, reporting second quartering earnings of $1.09 a share, which trounced expectations by 12 cents. That led to a flurry of excitement, but as people digested
Enthusiasm for Citigroup's upside surprise tempered by revenue woes
Higher loan loss reserves have been issue across the industry for years now. But a silver lining has cropped up over the last year or so, one that was especially evident in the past few days.
Both Citigroup and JP Morgan Chase have managed to pull off big upside earnings surprises for the seco
Revenues take big trading hit at top banks
The big earnings story so far has been the drop in revenue at the top banks. At Citigroup (NYSE: C ), revenues fell 26 percent to $22.1 billion from $30.0 billion a year ago. At Bank of America (NYSE: BAC ), second quarter revenues dropped 11 percent to $29.2 billion from $32.8 billion a yea
JPMorgan's investment bank reveals big challenges
It's hard to call a massive earnings upside surprise bad news. But JPMorgan's (NYSE: JPM ) second quarter earnings provide some temptation to at least call it not-so-great news. The far-greater-than-expected earnings per share were driven by a big release of $325 million in loan loss reserves.
JPMorgan Chase Q1 earnings top estimates
JPMorgan Chase ( NYSE: JPM ) has started off the first quarter-earnings derby with a bang. The bank reported earnings of 74 cents per share versus analysts' average estimate of 64 cents. Revenue hit $28.2 billion, also beating the forecasts. The markets bid up the stock giddily. JPMorgan hiked i
Why is Richard Bove so bullish?
Richard Bove, the media's analyst of choice, has been a bank bull for some time now, but he's not about to tell anyone to take their chips off the table. In fact, he seems more willing to double down. He thinks large bank stocks will double by the end of 2011, notes Fortune .
He predicates
Tough times ahead for banks
After showing distinct signs of recovery earlier this year, bad loans surged in the third quarter, as did delinquencies. According to Moody's, as reported by the AP , this bodes ill for the banking industry over the next year or so. Indeed, the credit rater says U.S. banks have so far only rese
Update: Commercial real estate and bank failures
We all know that commercial real estate is on the rocks right now. Nine more banks just failed , due in part to commercial real estate. The issue is how bad all this will ultimately be for the banking industry and whether they are adding to their loan loss reserves at an adequate pace.
Fo
Bleak prognosis for Citi?
Here's how David Trone, analyst at Fox-Pitt Kelton, sees the prospects for Citigroup over the next 18 months: $18.5 billion loss in real-estate loans; $11.5 billion loss in commercial and industrial loans; $11.8 billion loss in credit cards; and $16 billion or so in losses from other loans.
"T
