Banking News
The latest developments, earnings reports, and strategic shifts across global banking.
Wells Fargo Posts Full-Year 2024 Net Income of $19.7 Billion as Q4 Profit Rises 47%
Wells Fargo reported $19.7bn in full-year 2024 net income and a 47% jump in Q4 profit, with noninterest income growing 11% as the bank's shares rose 43% across 2024.
QNB Group Posts QAR 16.7 Billion Net Profit for 2024 as Total Assets Reach $357 Billion
QNB Group reported full-year 2024 net profit of QAR 16.7 billion ($4.6 billion), up 8%, with total assets rising 5% to QAR 1,298 billion ($357 billion), announced on 13 January 2025.
GTCO raises N209.4 billion in first tranche of CBN-mandated recapitalisation
Guaranty Trust Holding Company said its public offer drew 130,617 valid applications for 4.706 billion shares, completing the first phase of a capital raise as Nigerian banks work towards new CBN minimums.
FCMB Group raises N147.5 billion in oversubscribed public offer as Nigerian banks recapitalise
The offer, 33% oversubscribed, lifted First City Monument Bank's paid-up capital and share premium to over N240 billion as a first phase towards retaining its international licence.
TD Bank FY2024 Reported Net Income Falls 17% to CA$8.84 Billion as US Regulatory Charges Weigh
Toronto-Dominion Bank reported a 17% drop in full-year 2024 net income to CA$8.84 billion, as charges for resolving US AML investigations depressed results despite revenue growing 12.9%.
BMO Financial Group posts FY2024 net income of C$7.33 billion, up 65% year-on-year
BMO's reported fiscal 2024 profit rose 65% to C$7.33 billion, but adjusted net income fell 15% as provisions for credit losses climbed to C$3.76 billion.
CIBC Reports Record FY2024 Net Income of C$7.2 Billion as Revenue Climbs 10%
CIBC posted record full-year 2024 net income of C$7.2 billion on revenue of C$25.6 billion, adding over 613,000 net new clients and maintaining a CET1 ratio of 13.3%.
National Bank of Canada Posts FY2024 Net Income of CAD 3.82 Billion, Up 16%
National Bank of Canada reported FY2024 net income of CAD 3.82 billion, up 16%, with Q4 net income rising 27% and ABA Bank Cambodia delivering 15% earnings growth.
Royal Bank of Canada Reports C$16.2 Billion Net Income for Fiscal Year 2024
RBC posted full-year 2024 net income of C$16.2 billion, up 11%, in its first fiscal year incorporating the acquired HSBC Canada operations.
Scotiabank Posts C$7.89 Billion Full-Year 2024 Net Income as Canadian Banking Earnings Rise 7%
Scotiabank reported FY2024 net income of C$7.89 billion, up 6% year-on-year, with Q4 net income rising 25% and Canadian Banking adjusted earnings rising 7%.
Bank of Korea Surprises Markets with Second Consecutive Rate Cut to 3.00%
South Korea's central bank cut its benchmark rate to 3.00% in a surprise move, marking the first back-to-back reductions since 2009 as it seeks to stimulate slowing growth.
ANZ Group Reports A$6.535 Billion Statutory Profit for FY2024 After Suncorp Bank Acquisition
ANZ Group posted A$6.535 billion in statutory profit for the year to September 2024, down 8%, with the Suncorp Bank acquisition adding A$70 billion in net loans.