WELLS Fargo on Friday (Jan 13) reported a 50 per cent decline in profit for the fourth quarter as the bank racked up more than US$3 billion in costs related to a fake accounts scandal and boosted loan loss reserves for a potential economic slowdown.
JPMORGAN reported a 6 per cent rise in fourth-quarter profit on Friday (Jan 13), as a better-than-expected performance from the bank’s traders more than offset a hit from a slump in dealmaking.
BANK of America Corp reported a better-than-expected fourth-quarter profit on Friday (Jan 13) as rate hikes helped it charge more interest on loans to customers.
GOLDMAN Sachs Group on Friday (Jan 13) revised its pre-tax loss related to its newly formed platform solutions unit for the first nine months of 2022 to US$1.2 billion, the bank said in a regulatory filing.
GOLDMAN Sachs Group disclosed a pretax loss for its newly-created platform solutions business of US$1.2 billion for the first nine months of 2022, the bank said in a regulatory filing on Friday (Jan 13).
