Bank results reveal stark divide as industry recovers from turmoil
Profits for JPMorgan and Wells surged while falling at Citigroup, revealing a divide in how the banking world is faring.
Source: yahoo.com
Page 5 - Eric Aboaf News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Stay updated with breaking news from Eric Aboaf. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Top News In Eric Aboaf Today - Breaking & Trending Today
Charles River, software, data sales drive State Street in Q2
As traditional revenue lines declined at the custodian as a result of market forces, front-office software sales made big gains in its quarterly results.
Source: waterstechnology.com
Fee income drop, pricier deposits lead to 1Q miss at State Street
The Boston-based custody bank reported a 9% decline in fee income from a year earlier and a shift away from non-interest-bearing deposits that cost it millions in net interest income. As a result, earnings per share fell 12 cents short of analysts' expectations.
Source: americanbanker.com
Sticky deposits bolster BNY Mellon's rosy net interest income forecast
After seeing deposit increase over the second half of March, CFO Dermot McDonogh restated the New York custody giant's guidance for a 20% year-over-year jump in spread income, hinting the company might actually overshoot its target.
Source: americanbanker.com
High rates are pushing down State Street's earnings and stock price
Shares of State Street are on track for their worst day since March 2020 after the asset manager reported first quarter earnings.
Source: cnbc.com