Credit Suisse reportedly pulls C-suite, banker bonuses
CFO Dive
FEBRUARY 10, 2023
The Swiss bank is aiming to incentivize executives with long-term awards as it attempts to return to profitability. It reported its second consecutive annual net loss.
African Banking Roundtable: New Focus On Capital Markets
Global Finance
DECEMBER 9, 2024
Africa today is the worlds youngest continent, with a growing population and several fast-growing economies, but significant challenges, including the need for regulatory reform in banking and finance. Global Finance: Last year, we discussed the departure of a number of high-profile foreign banks from Africa.
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Webinars
Book of Secrets on the Month-End Close
How To Break Digital Transformation Barriers And Accelerate AI Adoption
Forecasting Failures Are Costly: Heres How To Fix Them
Operational Strength Starts with People: The New Rules of Finance Leadership
What Your Financial Statements Are Telling You—And How to Listen!
Trending Sources
Compliance And Innovation Make Profitable Bedfellows For Banks
PYMNTS
DECEMBER 10, 2020
As the world becomes increasingly digitized and more consumers embrace the speed and convenience of contactless purchases, Jim McCarthy , president of payment technology and innovation firm i2c , said banks have been left behind and should focus on what they do best — compliance. He said banks would be wise to accept that reality.
Compliance 104
104 Webinars
Book of Secrets on the Month-End Close
How To Break Digital Transformation Barriers And Accelerate AI Adoption
Forecasting Failures Are Costly: Heres How To Fix Them
Operational Strength Starts with People: The New Rules of Finance Leadership
What Your Financial Statements Are Telling You—And How to Listen!
China Leans On Banks To Revive Property Market
Global Finance
DECEMBER 26, 2024
Chinas banks are pumping fresh funds into stalled housing projects and cutting rates on existing mortgages. Banks are paying a pretty price for their efforts. Analysts predict real estate financing initiatives to yield uneven results across the banking sector. In some cities, banks have cut rates for first-time homeowners.
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FDIC: US Banks See Chargebacks Soar, Profits Tank Due To Pandemic
PYMNTS
JUNE 17, 2020
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, according to Reuters. The profits only hit $18.5 billion as the coronavirus pandemic continued to cause lenders to write off delinquent debt and horde billions to prevent more losses later on.
FinTech Revolut’s Losses Triple As Customer Base Grows
PYMNTS
AUGUST 11, 2020
With its losses mounting, the London-based digital bank may need to tap into its corporate reserves to keep up with its expansion plans. The company posted a total loss of $139.6 Revolut attributed the losses to its expansion into new markets and the introduction of new products. million (£106.5
Banking On A Rough Earnings Season For Banks
PYMNTS
APRIL 13, 2020
(and international) consumer and the businesses that serve them will be center stage as earnings season gets underway, starting, as always, with a slew of big banks. The last time we had earnings season, stretching from mid-January into the end of February, banks pointed to the continued strength of the U.S. and the U.K.,
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China Drafts Updates To Commercial Bank Regulations
PYMNTS
OCTOBER 16, 2020
As it aims to bolster methods of market exit and risk disposal for institutions that loan money, the central bank of China introduced a draft of updates to legislation applicable to commercial banks, Reuters reported. In May 2019, the government took over Baoshang Bank in the first seizure of its kind in almost 20 years.
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ADQ To Purchase Odeabank
Global Finance
OCTOBER 29, 2024
Abu Dhabi Development Holding Company (ADQ) has agreed to acquire a 96% stake in Bank Audi’s loss-making Turkish subsidiary, Odeabank, as the United Arab Emirates deepens economic relations with Turkey. Lebanon’s Bank Audi is the largest Odeabank shareholder, with a 76.4% But ADQ’s banking foray may not be without issues.
Credit Card Losses Outpace Home, Auto Loans At US Banks
PYMNTS
MAY 1, 2019
Credit card losses at the biggest banks are outpacing auto and home loans, with the biggest margin seen in the last 10 years, according to Bloomberg. Credit bureau Experian said some of the blame comes from banks giving cards to risky borrowers, and that there is a spike in late payments from elderly consumers. For us, the U.S.
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Revolut And The Open Banking Path To Profitability
PYMNTS
DECEMBER 9, 2020
We’re being a bit tongue in cheek, but the fact remains that digital-only banking is getting a wider embrace – especially in Europe, as the pandemic surges yet again. Open banking, of course, allows financial data to be shared and synthesized across everyday financial life, making banking by app far less of a novelty than it once was.
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The Exciting World of Real Estate Flipping
CFO Plans
MARCH 17, 2025
Flipping real estate properties is an enticing venture, promising substantial profits for those who master its intricacies. This strategy is essential in preventing Budget Overrun in Flipping Houses, a common issue that can erode potential profits.
World’s Best Investment Banks 2025: Global Winners By Sector
Global Finance
APRIL 5, 2025
Another sector that made a major jump is banking, which includes private equity. Van Oostende expects banking consolidation to continue, as more countries look for soft landings thanks to lowering interest and inflation rates. The GEM sectors wave of M&A was driven by the race for resource security. billion ($3.3 Morgan J.P.
German Bank Raided Over $117M Wirecard Loan
PYMNTS
SEPTEMBER 29, 2020
A team of police and investigators raided the headquarters of KfW , a German state-owned development bank, over a 100 million euro ($117 million) loan it made to Wirecard , the Financial Times (FT) reported. KfW Ipex Bank , a subsidiary, provided Wirecard with the unsecured loan two years ago and extended it last year, according to FT.
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Revolut Likely To Apply For US Bank Charter
PYMNTS
OCTOBER 12, 2020
European digital bank Revolut , the continent's largest such institution with 13 million users, is close to applying for a U.S. digital banking license, according to a report by CNBC. Revolut's bank charter will be with California, but it will allow the bank to operate anywhere in the U.S., Revolut is valued at $5.5
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World’s Best Banks 2024: Global Winners
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. Industry leadership, advancements in digitalization and corporate citizenship also factored in.
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Study: US, EU Banks Could Take $880B COVID-Related Loan Loss Hit
PYMNTS
JULY 28, 2020
bank profits are at double the risk for loan losses than their European counterparts, according to the Financial Times on Tuesday (July 28). According to consultants with Accenture , European banks are already preparing to follow American ones in massive second-quarter loan loss reporting related to the pandemic.
RBI issues revised norms for classification, valuation of investment by banks
CFO News
SEPTEMBER 12, 2023
As per the revised norms, banks will have to classify their entire investment portfolio under three categories -- Held to Maturity (HTM), Available for Sale (AFS) and Fair Value through Profit and Loss (FVTPL).
How Business Owners Can Create Good Banking Relationships
CFO Simplified
AUGUST 14, 2022
Businesses depend on banks for more than just loaning money. Owners rely on banks to deposit cash, transfer funds, and process checks sent out to suppliers. Banks provide services that are essential to business owners, which is why it is important for business owners to maintain a good relationship with their bank.
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Online Lender SoFi Sees $12M Loss In Q3
PYMNTS
NOVEMBER 12, 2018
Online lender Social Finance (SoFi) continues to struggle, recording an adjusted loss of around $12 million during the third quarter before interest, taxes, depreciation and amortization. The FinTech company has now recorded losses for the second consecutive quarter. In August, it posted a second quarter loss of about $200 million.
JPMorgan Chase, Wendy’s and more
CFO News Room
JANUARY 13, 2023
bank by assets rose more than 2% after the firm posted fourth-quarter profit and revenue that topped expectations. The New York-based bank said profit jumped 6% from the year earlier period to $11.01 Interest income at the bank surged 48% on higher rates and loan growth. Wells Fargo – The bank stock dipped 0.1%
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Data Update 5 for 2024: Profitability - The End Game for Business?
Musings on Markets
JANUARY 31, 2024
Since businesses invest that capital in their operations, generally, and in individual projects (or assets), specifically, the big question is whether they generate enough in profits to meet these hurdle rate requirements. While private businesses are often described as profit maximizers, the truth is that if they should be value maximizers.
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IMF Report: Banking Profits Might Not Exceed Cost Of Equity In 2025
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).
HSBC To Eliminate As Many As 300 UK Commercial Banking Jobs
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.
Breach of Trust: Decoding the Banking Crisis
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.
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Norwegian Cruise Line, Allstate, Roblox and more
CFO News Room
JANUARY 19, 2023
related investing news Charles Schwab — The bank stock lost more than 6% after Bank of America double-downgraded shares to an underperform rating, saying that clients will continue moving cash into alternatives such as money market funds. Philip Morris — The Marlboro parent gained 2.4% Alcoa — Shares of the aluminum company fell 4.6%
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Bank Deposits, Fees Up As Companies, Consumers Hoard Cash
PYMNTS
AUGUST 30, 2020
With profits and margins at all-time lows, the U.S. banking system is in flux as customer deposits surge and make the safety net for failures fall below a legal limit, The Wall Street Journal (WSJ) reports. Those numbers were huge increases from the past several years, which never saw credit loss provisions going above $20 billion.
The Future of Finance and Sustainability with Elizabeth Burns
CFO Talks
NOVEMBER 29, 2024
Notably, she reversed a decade-long loss at Coca-Cola, doubled profits, and restructured major funding. We ensure that profitability goals and community needs are met simultaneously, recognizing that long-term success depends on the well-being of the communities in which we operate. Leana van der Merwe: Thank you, Elizabeth.
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Under Armour, Robinhood, Peloton, Lincoln National and more
CFO News Room
NOVEMBER 3, 2022
after the company reported a smaller-than-expected quarterly loss as well as revenue that topped analyst forecasts. Deutsche Bank thinks investors should follow Icahn’s suit as the firm sees a 45% upside in the stock. UBS highlighted Tal’s strong topline beat and improved profitability outlook. per share loss.
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IMF: Banks Could Encounter Market, Credit Losses As COVID-19 Surfaces ‘Cracks’ In The Financial System
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. The IMF also pointed out emerging stress in the U.S.
Model Behavior: Banks See AI As A Customer Experience Tool
PYMNTS
JANUARY 22, 2021
It can help banks reduce tens of millions of dollars in losses, which will get the attention of every financial services company on the planet. It’s a pattern, he said, that more and more banks worldwide are adopting — because the last year has proven that these are the tools entities not only want but need.
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Ant Financial Posts Rare Quarterly Loss
PYMNTS
NOVEMBER 5, 2018
Ant Financial , the Chinese FinTech giant and an affiliate of Alibaba Group , posted an earnings pre-tax loss of 2.4 The Wall Street Journal ( WSJ ), citing Ant, reported that the company had a pre-tax profit of 5.3 Alibaba blamed the loss on increased investments to capture growth. billion yuan for the same quarter a year ago.
Bank Of England Ups Monzo’s Capital Requirements
PYMNTS
AUGUST 6, 2020
Monzo Bank Ltd, the London-based online bank, must now have a capital worth of 13.6 percent of its risk-weighted assets to guard against potential losses. The Financial Times (FT) reported the new requirements are among the first signs the Bank of England ( BoE ), the United Kingdom’s (U.K.) the newspaper reported.
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Walgreens, Intel, US Bancorp and more
CFO News Room
NOVEMBER 12, 2022
in the premarket after Deutsche Bank upgraded the stock to buy from hold. The provider of online language classes also reported a smaller-than-expected quarterly loss and increased its full-year revenue outlook. LegalZoom reported a quarterly loss that was smaller than analysts had anticipated and raised its full-year revenue forecast.
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Deere, HP, Nordstrom and others
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%
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World Wrestling Entertainment, Bed Bath & Beyond, Tesla, Costco
CFO News Room
JANUARY 8, 2023
Bed Bath & Beyond — The retailer dropped 12.4%, building on the sharp losses seen Thursday, after management said the company is low on cash and considering bankruptcy. Silvergate Capital – The crypto-focused bank added to its Thursday losses following a downgrade from JPMorgan to neutral from overweight.
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Carvana, Meta, Palantir, Viatris, Walgreens and more
CFO News Room
NOVEMBER 7, 2022
The investment bank said the online real estate company’s business model is flawed. Berkshire Hathaway — Shares of Warren Buffett’s conglomerate rose more than 1% after the company posted a 20% increase in operating profits during the third quarter. Berkshire also spent $1.05 billion in share repurchases during the quarter.
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Citigroup, Manchester United, Nordstrom, Tesla and more
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.
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Disney, Meta Platforms, Lucid Motors, Roblox and more
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%
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Retail Lobby: “We Lied About Organized Theft”
Barry Ritholtz
DECEMBER 11, 2023
billion in retail inventory losses in 2021 was not “attributable to organized retail crime.” retailers retracted its claim that “organized retail crime” accounted for nearly half of all inventory losses in 2021 after finding that incorrect data was used for its analysis.” No, “ nearly half ” of $94.5
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Banks Prep For Wave Of Skipped Credit Card Payments
PYMNTS
APRIL 26, 2020
Banks are bracing for fallout as more people struggle to make credit card payments due to lost paychecks amid the coronavirus pandemic, according to a report by The Wall Street Journal (WSJ). Further, banks can do little about nonpayment since the credit is unsecured. Discover and Synchrony shares have dropped by more than 50 percent.
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JPMorgan, Other Big Banks Front-Load $66B To Cover Bad Loans
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.
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Islamic Finance: How Does It Make Money Without Interest?
Global Finance
AUGUST 13, 2024
Banks are by far the biggest players in Islamic finance—some of them are exclusively Islamic while others offer sharia-compliant products but remain mostly conventional. Here are some of the key sharia-compliant products offered by banks—they have Arabic names but in most cases we can find an equivalent in conventional Western banking.
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New loan sale rule to give Rs 20k-cr lift to bank profits
CFO News
MARCH 30, 2025
The Reserve Bank of India (RBI) allowed lenders (on Saturday) across the spectrum and ownership types to reverse excess provisions in their profit and loss (P&L) accounts if a loan is transferred to an asset reconstruction company (ARC) at a value exceeding its net book value.
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