Banking News
The latest developments, earnings reports, and strategic shifts across global banking.
Morgan Stanley Posts Q2 2024 Net Revenues of $15.0 Billion with Net Income Up 41% Year-on-Year
Morgan Stanley reported second-quarter net revenues of $15.0 billion, up 12% year-on-year, with net income rising 41% to approximately $3.1 billion and EPS of $1.82.
Goldman Sachs Posts Q2 2024 Revenues of $12.7 Billion and Raises Quarterly Dividend to $3.00
Goldman Sachs reported Q2 2024 net revenues of $12.73bn, up 17% year-on-year, with EPS of $8.62 and a dividend increase to $3.00 per share.
Wells Fargo Reports Q2 2024 Net Income of $4.9 Billion Despite Decline in Net Interest Income
Wells Fargo posted Q2 2024 net income of $4.9 billion and EPS of $1.33, beating estimates as non-interest income growth offset a 9% drop in net interest income.
JPMorgan Chase Posts Q2 2024 Net Income of $18.1 Billion, or $13.1 Billion Excluding Significant Items
JPMorgan Chase reported Q2 2024 net income of $18.1 billion, or $13.1 billion with a 20% return on tangible common equity excluding significant items, on managed revenue of $51.0 billion that included a $7.9 billion Visa share gain.
Citigroup Posts Q2 2024 Net Income of $3.2 Billion as Equities and Investment Banking Revenues Rise
Citi reported Q2 2024 earnings of $3.2bn with EPS of $1.52, beating estimates, as equities trading revenues rose 37% and investment banking revenues climbed 60% year-on-year.
Access Holdings opens N351 billion rights issue under new CBN capital rules
The Nigerian group is offering 17.77 billion shares at N19.75 each to existing shareholders, after the central bank raised the minimum capital for international banks to N500 billion.
Federal Reserve 2024 Stress Tests Show 31 Major US Banks Can Absorb $685 Billion in Losses
The Fed's 2024 stress tests found all 31 large US banks remained above minimum capital requirements in a severe scenario including 10% unemployment and 55% equity falls.
Investec Group Reports FY2024 Pre-Provision Operating Profit of £963.6 Million, Up 7.1%
Investec posted pre-provision adjusted operating profit of £963.6m for FY2024, with revenue of £2.09bn, EPS up 13.4%, and a total dividend of 34.5 pence per share.
Japan's MUFG Reports Record Net Income of ¥1.49 Trillion for FY2023/24 on Rate Tailwinds
Mitsubishi UFJ Financial Group posted record net income of ¥1.49 trillion for FY2023/24, up 33.5% year-on-year, and targeted a further record of ¥1.5 trillion for FY2024/25 .
India's State Bank of India Posts Record FY2024 Net Profit of Rs 61,077 Crore, Up 22%
SBI reported record FY2024 net profit of Rs 61,077 crore, up 21.59% year-on-year, with return on equity of 20.32% despite absorbing a Rs 7,100 crore exceptional pension-related charge.
Republic First Bank Becomes First FDIC-Insured Failure of 2024 as Regulators Seize It and Sell It to Fulton Financial
Pennsylvania regulators closed Republic First Bank and the FDIC sold it to Fulton Financial's banking subsidiary, with the FDIC estimating the failure will cost the Deposit Insurance Fund approximately $667 million.
South Africa's Capitec Bank reports 16% rise in headline earnings to R10.6 billion in FY2024
Capitec's headline earnings rose to R10.6bn in the year to February 2024, helped by non-interest income, while banking app users grew to 11.2 million.