Tag: investment banking

JP Morgan For JP Morgan Q3 financial result was a mixed bag. Investment bank and retail banking helped the bank report an increase in third-quarter profit. The bank’s Card Services and Consumer Lending segments however had a bad phase with the credit costs continuing to be high. The bank has proved to be one of the best banks to weather the current crisis. In June the bank paid back the entire $25 billion assistance it had received under TARP. Third quarter net earnings of the bank increased to $3.59 billion from $527 million last year. Net revenue for the quarter increased by 81% to $26.62 billion from $14.74 billion in the corresponding period last year. As expected the credit losses for the quarter increased by 40% to $8.1 billion from $5.8 billion last year. Segment wise Investment Banking unit had the best performance with revenue increasing by 85% to $7.5 billion. The unit  [...]

Last month four of the US banking giants announced their third quarter financial results. With the banking sector in doldrums, every quarterly result announcement is being awaited for some good news and being scrutinized by analyst like never before. All these four banks were among the biggest recipients of payouts from government. Lets analyse their financial statements to understand what they did right and what went wrong. Gold Man Sachs A year after receiving government aid, Goldman Sachs Group had an impressive third quarter with profits of $3.19 billion , or $5.25 a share up from $845 million, or $1.81 a share, a year earlier. Overall the bank doubled its revenue to $12.4 billion from $6.04 billion last year. In spite of having a record level of capital the firm managed an impressive return on equity of 21.4% compared with 7.7 percent in the third quarter of 2008. Segment wise the  [...]