Global Finance

OCTOBER 11, 2024

Global Finance presents its 31st annual list of best banks worldwide. Banks face an uphill battle as supply chains remain disrupted, regional conflicts continue to build, and the fear of bank failure returns. in 2022, according to the International Monetary Fund’s July World Economic Outlook 2024.

Banking 111

Banking Foreign Exchange Profit and Loss Finance 111

PYMNTS

OCTOBER 22, 2020

HSBC will be restructuring its commercial banking business in Britain which will result in 300 job cuts, according to Reuters. The cuts come as part of Europe's largest bank's larger restructuring effort from earlier this year, with HSBC looking to cut costs worldwide as the ability to boost revenues becomes more difficult.

Profit and Loss 91

Profit and Loss Restructuring Banking Economics 91

PYMNTS

MAY 22, 2020

A large share of the banking sectors of nine advanced economies, by assets, may not be able to bring in profits higher than their cost of equity in 2025, according to a simulation exercise cited in the “Global Financial Stability Report” by the International Monetary Fund (IMF).

Profit and Loss 64

Profit and Loss Banking Currencies Forecasting 64

CFO News Room

NOVEMBER 24, 2022

Check out the companies making headlines before the bell: Deere (DE) – The heavy equipment maker reported better-than-expected profit and revenue for its latest quarter and issued an upbeat outlook. The computer maker also reported better-than-expected profit and revenue for its latest quarter. Its stock jumped 4.2%

Profit and Loss 130

Profit and Loss Valuation Sales Retail 130

CFO News Room

NOVEMBER 23, 2022

banking regulators. Deere — Shares of the heavy equipment maker jumped 5.8%, on track for a record close, after the company reported better-than-expected profit and revenue for its fiscal fourth quarter. Credit Suisse – The bank dropped 6.7% billion in quarterly losses tied to customers pulling money.

Profit and Loss 130

Profit and Loss Financial Data Sales Retail 130

PYMNTS

APRIL 14, 2020

The International Monetary Fund (IMF) cautioned that COVID-19 has made “cracks” in the worldwide financial system known and “will likely” have financial institutions encounter market and credit losses that will put their reserves to the test. out of work and may bring about the most severe economic downturn as of the Great Depression.

Financial Systems 60

Financial Systems Profit and Loss Marketing Banking 60

Musings on Markets

MAY 5, 2023

In March 2023, the fall of Silicon Valley Bank shocked investors not only because it was unforeseen, but also because of the speed with which it unfolded. That failure has had a domino effect, with Signature Bank falling soon after, followed by Credit Suisse in April 2023 and by First Republic last week.

Banking 98

Banking Profit and Loss Securities Investments 98

CFO News Room

NOVEMBER 9, 2022

Disney — Shares of the media giant slid more than 11% after the company’s quarterly results missed Wall Street expectations on revenue and profit, as both its parks and media divisions underperformed estimates. after the company reported another quarterly loss as operational costs increased. AMC Entertainment — Shares dropped 9.8%

Profit and Loss 130

Profit and Loss Entertainment Forecasting Technology 130

PYMNTS

JANUARY 5, 2021

4) alongside volatility in highly leveraged futures markets before recovering losses. The institutional parties are usually in the possession of ample funding, sometimes billions of dollars, with which to chase profits they want to acquire. Bitcoin had seen a string of days in which it continually broke records, passing $20,000 on Dec.

Profit and Loss 131

Profit and Loss Currencies Leverage Economics 131

PYMNTS

APRIL 30, 2020

JPMorgan Chase was the biggest saver of funds in an effort by banks around the world to get ahead of a spate of bad loans they believe is coming. The banks, combined, have set aside $66 billion for the prospect, which is likely due to the number of corporations that may have to default due to the virus’ economic destruction.

Banking 75

Banking Profit and Loss Accounting Standards Economics 75

PYMNTS

SEPTEMBER 20, 2020

banks aren’t fooling themselves — they’re likely in for a long stretch of low interest rates putting a burden on their profits, the Financial Times (FT) reports. That means banks’ profit margins will suffer more as low interest rates dampen yields at a time when the cost of deposit funding is already extremely low.

Banking 67

Banking Profit and Loss Valuation Forecasting 67

PYMNTS

DECEMBER 1, 2020

Meanwhile, Russia’s largest bank, Sberbank , is developing a cryptocurrency, called the Sbercoin, reported Reuters. The bank is working with J.P. The promoters gave victims access to a supposed online AirBit Club portal that displayed false profits. No bitcoin trading or mining occurred, the release stated.

Banking 80

Banking Profit and Loss Currencies Forecasting 80

CFO News Room

JANUARY 20, 2023

after CEO Sundar Pichai announced the company will lay off 12,000 employees noting in a memo that the company “hired for a different economic reality than the one we face today.” Capital One — Capital One shares gained 5.6%, recovering their losses from the previous session. Alphabet — The Google parent saw shares rise 4.2%

Profit and Loss 130

Profit and Loss Pharmaceutical Manufacturing Currencies 130

Global Finance

JULY 29, 2024

Will Fed rate cuts and geopolitics fuel more M&A deals by GCC banks? Another year, another bumper crop of profits. In the first quarter of this year, the combined profits of 57 listed banks jumped 10.5% In the first quarter of this year, the combined profits of 57 listed banks jumped 10.5%

Mergers and Acquisitions (M&A) 59

Mergers and Acquisitions (M&A) Banking Profit and Loss Foreign Exchange 59

PYMNTS

NOVEMBER 16, 2020

To get critical mass in banking — build or buy … but the quickest route to reach and scale, especially in digital endeavors is. We’ve seen other mergers in the space, of course, where a $28 billion marquee all-stock deal was struck between BB&T Corp and SunTrust Banks to create Trust Financial Corp. billion in an all-cash deal.

Mergers and Acquisitions (M&A) 75

Mergers and Acquisitions (M&A) Banking Profit and Loss Strategic Planning 75

PYMNTS

APRIL 7, 2020

The global coronavirus pandemic has cast a dark cloud over Finland’s economy, as the central bank predicts the worst recession in over 100 years, according to a Bloomberg report. Just three weeks ago, the bank thought the shrinkage would be no more than 4 percent. percent in 2021. percent in 2021. percent this year.

Banking 60

Banking Profit and Loss Healthcare Economics 60

PYMNTS

JUNE 17, 2020

banks took a profit hit of 69.6 US Banks See Chargebacks Soar, Profits Tank Due To Pandemic. bank profits took a hit of 69.6 percent in profits in the first quarter of the year compared to the same time last year. The profits only hit $18.5 percent in the first quarter of 2020.

Economics 52

Economics Profit and Loss Healthcare Compliance 52

The Charity CFO

JANUARY 17, 2022

The basic accounting principles for nonprofit organizations are the same as accounting for for-profit companies. . So the cash in your bank account is an asset. Examples of nonprofit liabilities: Bank loans. Revenue is inflows that increase economic wealth. Expenses are outflows of cash that decrease economic wealth.

Nonprofit 98

Nonprofit Accounting Profit and Loss Accounts Payable 98

Future CFO

SEPTEMBER 2, 2021

Support measures for borrowers will limit the asset quality decline in Thailand, Indonesia, and the Philippines and banks in these countries have sufficient capital and provisions to absorb losses, though the resurgence of coronavirus cases will hinder their economic recovery and raise asset risks for banks , said Moody’s recently.

Profit and Loss 52

Profit and Loss Banking Restructuring Economics 52

PYMNTS

OCTOBER 14, 2020

14), Wells Fargo called out strong mortgage banking fees, higher equity markets and declining sequential charge-offs as positives for the period. “As The bank said that was predominantly due to increased consumer spending. The bank reported almost $1 billion of expenses linked to customers refunds tied to previous scandals.

Profit and Loss 82

Profit and Loss Restructuring Economics Banking 82

Global Finance

MAY 8, 2024

In the Asia-Pacific (APAC) region last year—as in 2022—net interest margin (NIM) dynamics were optimal for banks in Southeast Asia, Australasia, Hong Kong and India. Lending rates followed central bank tightening moves, while deposit rates lagged; and across the region, there were some record profits. billion; a 2.3%

Banking 52

Banking Profit and Loss Construction Retail 52

CFO News Room

FEBRUARY 3, 2023

Businesses often treat layoffs as one of several tools they can deploy to increase profitability. What I found was that the struggle to maintain self-respect in the face of job loss was palpable, particularly for men. Using research, I will explain how job losses make traditional gender roles more salient.

Profit and Loss 130

Profit and Loss Planning Economics Securities 130

CFO News Room

JANUARY 21, 2023

Originally published at openDemocracy The 2023 World Economic Forum (WEF) meeting in Davos started five days ago amid an air of pessimism. It is hardly a surprising figure given 2022 ended with global stocks having fallen by nearly 20%, with market losses of $30trn, the worst since 2008. He is on Twitter at: @ProfPRogers.

Economics 100

Economics Profit and Loss Forecasting Financial Systems 100

PYMNTS

DECEMBER 8, 2019

European banks have been forced to slash more than 60,000 jobs as they face falling profitability, The Financial Times reported on Saturday (Dec. France, Spain and Switzerland have suffered due to Brexit, slowing economic growth, increasing regulations and the European Central Bank’s negative interest rates.

Profit and Loss 56

Profit and Loss Restructuring Auditing Economics 56

PYMNTS

OCTOBER 13, 2020

Citi still reported credit losses, but those declined to $1.9 But stabilizing aside, consumers continued to struggle through the economic downturn, while extremely low interest rates ate up profit margins on lending. Those factors combined to continue to depress revenues in consumer banking. billion from $2.2

Profit and Loss 68

Profit and Loss Economics Forecasting Banking 68

PYMNTS

JULY 14, 2020

Morgan Chase – America’s biggest bank in asset terms – on Tuesday (July 14) became one of the first financial firms to show how big of a bite COVID-19 took out of its second-quarter top and bottom lines. All in, the bank reported a 51 percent earnings plunge, with profits falling to $4.7 The effects were notable and profound.

Profit and Loss 65

Profit and Loss Nonprofit Banking Economics 65

PYMNTS

JANUARY 1, 2021

Digital-First Banking. Banks will need to seriously revamp their in-branch experiences to accommodate the new normal as customers are growing used to the unparalleled convenience and speed that mobile banking has to offer. One out of every three Americans said they had experienced a loss of income as a result of the pandemic.

Profit and Loss 103

Profit and Loss Banking B2B Retail 103

CFO News Room

DECEMBER 23, 2022

In October 2022, the International Monetary Fund warned that inflation — combined with central banks’ interest rate hikes designed to fight it — could threaten the entire global economy, a good reason to understand what causes inflation and how to manage this gradual loss of purchasing power. . What is inflation?

Profit and Loss 130

Profit and Loss Banking Forecasting Prioritization 130

PYMNTS

NOVEMBER 11, 2019

lender HSBC made progress in the launch of its digital banking platform for small businesses, Kinetic, which is now operating in beta phase, Reuters reported on Monday (Nov. The bank expects a full launch of Kinetic in the first half of next year, when it is expected to integrate with HSBC’s banking infrastructure.

Banking 42

Banking Profit and Loss Restructuring Budgeting 42

CFO Talks

AUGUST 21, 2024

IFRS 9 Financial Instruments: Managing Expected Credit Losses IFRS 9 introduced the concept of expected credit losses (ECL), which means companies must recognise potential credit losses earlier, based on a forward-looking model. This is particularly important for sectors like banking, where managing credit risk is a key focus.

IFRS 52

IFRS Profit and Loss Communication Credit Risk 52

PYMNTS

AUGUST 15, 2019

And even some losses? The Apple Card looms, with a rollout that began last week through Goldman Sachs, and according to at least one analysis, the card might underwhelm consumers, lead to muted results (at least at the outset) for its tech and banking backers, and for Goldman, even lead to losses, depending on the economic climate.

Profit and Loss 59

Profit and Loss Economics Banking Accounting 59

Centage

SEPTEMBER 13, 2022

There is some risk to using past performance to inform your long-term plans, and this can be compounded during times of economic uncertainty. This statement provides information about whether your business can generate a profit by reducing costs or increasing revenue. Your company needs to make plans for the future.

Financial Planning and Analysis (FP&A) 98

Financial Planning and Analysis (FP&A) Planning Forecasting Profit and Loss 98

PYMNTS

NOVEMBER 6, 2019

The firm went public in 2014 and had just managed its first quarter of profitability in early 2016 when scandal rocked the business and it found itself without its found CEO, facing a lot of investor doubt and being investigated by the DoJ. million, a very big improvement from the roughly $7 million loss reported at this time last year.

Profit and Loss 40

Profit and Loss Banking Economics Numbers 40

Musings on Markets

NOVEMBER 1, 2023

I profited mightily on that investment, but I sold too soon , when Tesla's market capitalization hit $150 billion, and just before COVID put the company on a new price orbit. billion on revenues of $95.9 of the company's revenues in 2022 to 6.2% in the twelve months ending September 2023.

Valuation 124

Valuation Profit and Loss Numbers Sales 124

PYMNTS

JANUARY 13, 2020

In today’s top payments news, Wells Fargo is trying to revamp its approach to technology to appease regulators, and Goldman Sachs finally launches a mobile app for its online-only bank, Marcus. Also, Karen Webster examines the economics of delivery aggregators. 8, three years after launching the digital-only bank.

Profit and Loss 52

Profit and Loss B2B Economics Startups 52

PYMNTS

JANUARY 13, 2020

But AI is still relatively rare in the banking world, with only 5.5 percent of banks in our survey equipped with genuine AI systems. It’s something that is gaining prominence across the globe, given the current economic climate,” he noted. Take just a few data points: 63.6 There’s that particular competence.

Credit Risk 83

Credit Risk Profit and Loss Leverage Economics 83

PYMNTS

AUGUST 22, 2019

Capping off the effort last week, Ghana’s central bank announced it had revoked the licenses of 23 savings and loans companies as well as finance houses and appointed a receiver to manage their affairs. “It The central bank blames the financial institutions; Ghana’s President Nana Akufo-Addo, on the other hand, blames the Bank of Ghana.

Banking 46

Banking Profit and Loss Restructuring Finance 46