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Posts published in “Banking”

Wells Fargo beats profit expectations on reserve release boost

Wells Fargo & Co (WFC.N) posted a nearly 60% rise in third-quarter profit that beat market estimates, as it released funds set aside to cover potential loan losses due to the pandemic and reined in costs tied to its years-old sales practices scandal.

Citigroup rides on Wall Street M&A boom to offset sluggish loan book

Citigroup Inc (C.N), like its Wall Street peers, made the best of a boom in deal making to post strong quarterly profit on Thursday, fending off a weakness in its lending business, which the bank’s management said would continue to be under pressure.

Bank of America profit beats on strength across businesses

Bank of America Corp (BAC.N) beat estimates for third-quarter profit on Thursday, boosted by strong growth across its businesses which executives said they expected to continue next quarter.

JPMorgan edges closer to leaving pandemic behind, its earnings show

JPMorgan Chase & Co (JPM.N) beat analysts’ profit estimates on Wednesday, thanks to record revenue in some investment banking businesses and a sunnier economic outlook that allowed the largest U.S. bank to release money it had set aside for potential loan losses during the coronavirus pandemic.

Welcome to Britain, the bank scam capital of the world

It was an email offering a discount on an electric toothbrush that began the sequence of events that ruined Anna’s life.