Blog Archives

Bank Earnings Season: Bank of America tries to do the impossible with its Housing portfolio? (Q4 and Full Year 2012)

Though the bank managed the hit from settlements well enough and the expected decine in charge offs together with ready provisioning enabled the bank to avoid losses on the last big writedown quarters, BofA still seems to be alking the

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Posted in Financial Markets

Bank Earnings Season: Goldman Sachs thumps in the majority opinion (Q4 and Full Year 2012)

Greg Smith’s ex employer offices in London got off to a wrong start trying to finagle tax-free bonuses and have since abandoned the plan leaving the HR team to explain the relative standing of both stances ( to delay the

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Posted in Financial Markets

JP Morgan surprise press conference to report new $2 bln losses | Banking Insight

The JP Morgan Treasury / Chief Investment Office is purportedly carrying losses of up to $4.5 bln and the same would be disclosed in a press conference in detail in a few minutes. The CIO’s Office carries Synthetic hedges betting

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Posted in Banking, US

Bank Results Season: Citi proves its worth to itself (Q1 2012)

Citigroup results of Jan to March 2012 relied on reduced Citi Holdings assets of $134 bln in the run off portfolio and the $4.74 bln revenues n Fixed Income about a 20% higher than even Q1 2011 and more than

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Posted in Amitonomics, Banking, US

China’s banks pull in claws: ICBC still head and shoulders above the rest in 2011

ICBC results a minute ago, would have beaten CCB profits by 38 bln yuan or nearly 23% and AgBank by 86 bln Yuan for a 2011 total of CnY 208 bln in profits or $33 bln with a Q4 Net

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Posted in Banking, China, Financial Services, Global

Bank Results Season: Bank of America with more provisions for 2011 | Insider Insight

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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Posted in Amitonomics, Banking, Financial Markets, US

Bank Results Season: HSBC, the emerging markets emperor cuts staff again (30,000 jobs)

Adding 30,000 more to “The Jobs Cauldron” is business design Gulliver’s Travails claim 30,000 in planned cuts As predicted, Results announcement came with a clear rider of 30k out of the 300k jobs at the bank to go. With most

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Posted in Banking, China, Emerging Markets, Financial Markets, Global, India, US