Update on Bank Revenues

first_img in Daily Dose, Featured, Investment, News Tagged with: Banks Coronavirus Revenue Trading revenue of U.S. commercial banks and federal savings associations of $7.2 billion in the Q4 2019, which was $4.0 million, or 0.1% less than the previous quarter, according to the Office of the Comptroller of the Currency (OCC).While four large banks held 85.7% of the total banking industry notional amount of derivatives, a total of 1,324 insured U.S. commercial banks and savings associations held derivatives at the end of the fourth quarter 2019.Derivative contracts remained concentrated in interest rate products, which represented 72.9% of total derivative notional amounts. The percentage of centrally cleared derivatives transactions decreased quarter-over-quarter to 37.1% in the fourth quarter 2019.Many U.S. banks are underperforming in the wake of COVID-19, but according to research from Forbes, there are a few “bright spots.” Forbes’s portfolio of nine stocks showed an average return of 11% in the last five trading days compared with a 13% return in the Dow during the same period.The top 3 performers within the portfolio in the last five trading days were, Citigroup (15.1% return), Morgan Stanley (14.6% return), JPMorgan (14.4% return). On Friday, the top 3 performers were U.S Bancorp (-1.1% return), BNY Mellon (-1.4% return), State Street (-1.5% return).Top performer Citigroup’s market cap has declined by $86.6 billion from about $178.5 billion on December 31, 2019 to $91.9 billion now. The company had $74.3 billion in revenue in 2019, from which it derived $19.4 billion in net income and $8.08 in earnings per share.S&P Global Ratings believes the effects of the COVID-19 pandemic have likely pushed the world economy into recession, dragging full-year GDP global growth down to just 1-1.5%.”We project China’s economy to expand 2.7%-3.2%, and the eurozone economy to contract 0.5%-1.0% in 2020,” they said in a statement. The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Update on Bank Revenues The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Update on Bank Revenues  Print This Post About Author: Seth Welborn Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Previous: Housing: Braced for Recession? Next: Mark Calabria Urges Borrowers to ‘Be Honest’ Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Banks Coronavirus Revenue 2020-04-01 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago April 1, 2020 800 Views Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Subscribelast_img