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Bank Results Season: Citi’s uphill battle for a 10% RoE

Posted on April 15, 2013 by zyakaira

Q1 earnings set the ball rolling for the Global Bank’s reestablishment strategy under the new CEO, with $4 Bln in Net profits excluding DVA on $20.8 Bln in revenues. The Bank’s $3.8 Bln net profits add to the $6 Bln…

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Posted in Financial Markets

Goldman Sachs and JP Morgan get the pay out approved for 2013| Bank insight

Posted on March 15, 2013 by zyakaira

Michael Corbat’s Citi did better than the Wall Street Titans for a change as it managed to get its payouts approved in the 2013 edition of the Fed Stress Tests while JP Morgan’s $1.5 B per quarter buyback program was…

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Posted in Financial Markets

Bank Earnings Season: Michael Corbat presents first results for ‘The new Citi’ (Q4 and Full Year 2012)

Posted on January 17, 2013 by zyakaira

The good new first, the bank expanded NIMs with global business and cost of funding managed well at 2.93% though its US mortgage footprint is not comparable with Wells Fargo. Provisions were almost a third of the amount at B…

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Posted in Financial Markets

$10B Foreclosure settlement for BofA, JP Morgan and Citi | Bank Earnings Season

Posted on January 7, 2013 by zyakaira

A new $10 B settlement by 14 banks to define and ordain penalties for foreclosure mispractices and abuses has been reached over the weekend bolstering markets rejoicing the newly made revenue arrangements to avoid the fiscal cliff. The Banks including…

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Posted in Financial Markets

Bank confirms higher liquidity and payout ahead of stress tests | Banking Insight

Posted on December 19, 2012 by zyakaira

Both Meredith and Dick Bove released reports for record 2013 Bank stock performance based on identical expectations of a bigger and better payout from Bank of America , Meredith mentioning a figure of upto 8 times its current capped dividend…

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Posted in Financial Markets

Citi Comebacks: The Global citizen tries the Mike O’Neill way

Posted on December 5, 2012 by zyakaira

For a man who has done it before, it was easy for Mike O Neil to get down to real surgery at Citi with strategist and CEO MikeCorbat getting into the groove with asset sales after the mandatory pass for…

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Posted in Financial Markets

Bank Results Season: Citi finally Stripped of Dignity, cries for shame

Posted on October 15, 2012 by zyakaira

Vikram Pandit’s Citi turned out to be a bad dream for everyone despite the early lead throughout the crisis and an early and clean attrition of its own bad debt . th elatest quarter strips its EPS of $1.06 or…

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Posted in Amitonomics, Banking, Financial Markets, US

BofA operationalises closure of 380 branches, and reach 30000 Job Cuts by December | Banking Insight

Posted on September 20, 2012 by zyakaira

The rush oto cut jobs at BofA despite protestations of hiring throughout 2011 apparently implies that the bank could concentrate on Retail Banking units or branches to cut costs across the megalith. After cutting 178 branches last year which we…

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Posted in Amitonomics, Banking, US

Citi gets rid of Morgan Stanley Smith Barney baggage – Deal Insight / Banking Insight

Posted on September 11, 2012 by zyakaira

The bank which is apparently acting on a quick menu to get rid of Capital loading it can work without has already seen a lot of brokerage losses after it took over a majority stake in Salomon Smith Barney back…

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Posted in Amitonomics, Banking, US

So, you won’t stop trading at Goldman Sachs! | Banking insight

Posted on September 10, 2012 by zyakaira

Distressed debt trading and Fixed Income trading no longer engenders the respect it used to get on Wall Street as activist investors come out of the closet to take on the might of Goldman Sachs intelligence and analysis. Apparently all’s…

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Posted in Amitonomics, Banking, Private Equity, Retail Lifestyle, US