The bank has published results with new reserves of $15.6 bln on representation and warranties, $6.3 bln in litigation and another $7.3 bln in Legacy Assets servicing bringing Net Revenues down by $29.2 bln, more than Goldman Sachs produced for…
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Blog Archives
Bank Results Season: Bank of America with more provisions for 2011 | Insider Insight
Tagged with: BAC, Bank America, Commercial bank, Credit card, Goldman Sachs, Investment Bank, Merrill Lynch, Net interest income
Posted in Amitonomics, Banking, Financial Markets, US
Posted in Amitonomics, Banking, Financial Markets, US
Bank Results season: BofA manages a $28 bln topline without mortgage business (Q3 2011 $0.56 EPS $13 TBVPS)
America’s heritage bank opened earnings day with a large $28.7 bln topline, that includes among others, $3.6 bln from its sale of 5% of CCB, a trading DVA adjustment ( value of trading book marked to market turned in the…
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Tagged with: BAC, Bank of America, Bank results season, CCB, Investment Bank, Mortgage loan, Net income, new BAC, retail banking, Sallie Krawcheck
Posted in Banking, Retail Lifestyle, US
Posted in Banking, Retail Lifestyle, US
Moynihan to do more in the final act..
Bank of America continues making news for all the wrong reasons, epitomising a banking sector that put away tough calls for the entire 3 years that it had to get out of the liquidity crisis of 2009. What started as an…
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Tagged with: BAC, Bank, Bank of America, Brian Moynihan, Commercial bank, Gary Lynch, Goldman Sachs, Joe Price, Merrill Lynch, Project new BAC, Sallie Krawcheck
Posted in Amitonomics, Banking, US
Posted in Amitonomics, Banking, US
Temasek exits China's banking sector | Advantage zyaada
In an apparent bid to reduce its excessive exposure to Financial institutions, Temasek committed early trades worth $3.6 bln in Hongkong to exit $2.4 bln worth of its stake in Bank of China and another $1.2 bln worth of its…
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Tagged with: BAC, Bank of America, Bank of China, Business, China Construction Bank, Exchange-traded fund, Guaranteed Investment Certificate, Hongkong, ICICI Bank, Initial public offering, Investing, McDonalds, Singapore, Temasek Holdings, United State, USA
Posted in Amitonomics, Banking, China, Financial Markets, Global, Private Equity
Posted in Amitonomics, Banking, China, Financial Markets, Global, Private Equity
Bank Results Season: (Bank of America) A grinch got the banks this season
December 2010 results pouring in have been harrowing to say the least. Bank of America has started its results day with news of a loss. Excluding $2bn impairment charges, the Bank reports a profit of 4 cents per share against…
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Tagged with: BAC, Bank of America, Bank of America Home Loans, Fannie, Fannie Mae, Federal Reserve Bank of New York, Financial Services, Freddie Mac, Wells Fargo
Posted in Banking, Retail Lifestyle, US
Posted in Banking, Retail Lifestyle, US
This one snuck in the back door | Financial regulation
zyakaira notes: Two points to note, which would even be clear to regulators and the big banks from here..Dodd’s bill cannot handle derivatives, SAC leader Blanche Lincoln is getting ready for election year. The proposed ‘regulation’ would ask banks to…
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Tagged with: BAC, Bank of America, Banks, BofA, C, Citi, derivatives, GS, JPM, Wachovia, Wells Fargo, WFC
Posted in Financial Markets, Financial Services, O'nomics, Retail Lifestyle, Uncategorized
Posted in Financial Markets, Financial Services, O'nomics, Retail Lifestyle, Uncategorized
Bank results week: The undisputed Heavyweight Champion of the World
Goldman Sachs has done it again. Like its counterparts in Boxing from Muhammed Ali to Mike Tyson, it has outperformed everything and every competitor from banking to asset management on the street and fought governments in doing “God’s work” Even…
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Tagged with: BAC, Banks, C, Goldman Sachs, GS, JPM
Posted in Emerging Markets, Financial Markets, Uncategorized
Posted in Emerging Markets, Financial Markets, Uncategorized
Bank results week: Bring on the War Paint!
Well, Vikram Pandit’s Citi is finally in business. When they finished 2009, Cit had put almost $900 billion in assets ‘to be disposed’ in Citi Holdings of which only $550 bn was in existence on December 31. $175 B in…
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Tagged with: BAC, Banks, Citi, GS, JPM
Posted in Emerging Markets, Retail Lifestyle, TARP, Uncategorized, US
Posted in Emerging Markets, Retail Lifestyle, TARP, Uncategorized, US
Bank Results 2010: BofA off the block
BofA took off in income and profits after repaying TARP cash (TAGP if you will) in the 4th Quarter, studying JPMorgan’s Balance Sheet to report and almost identical $3.2 billion profit on $32 billion in revenue. Spurred by a jump…
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Tagged with: BAC, Banks, BofA. Bank of America, JPM
Posted in O'nomics, Retail Lifestyle, Uncategorized, US
Posted in O'nomics, Retail Lifestyle, Uncategorized, US
The legal fallout of the crisis | Advantage zyaada
Among the ones that escaped the notice of the fourth estate earlier, there was some legal action against banks for mis-declarations and civil fraud such as the mortgage ‘quick-cycles’ of Long Island. ( I forget, it was either multiple mortgages on…
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Tagged with: 2008, BAC, Bank of America, BofA, Credit Crisis, Financial Crisis, GS, Merrill, ML, Paulson, State Street, WFC
Posted in Financial Markets, Infrastructure, O'nomics, Uncategorized, US
Posted in Financial Markets, Infrastructure, O'nomics, Uncategorized, US
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