In the second quarter, Bank of America increased its net profit by 33.3% in annual terms to 6 billion 800 million dollars. In earnings per share, profit was 63 cents, while experts had expected the figure at 57 cents. Revenues of the bank amounted to 22 billion 600 million dollars, decreasing by 1%. Analysts had expected revenue at the level of 22 billion 300 million dollars. Net interest income increased by 6%. Income from trading operations with shares increased by 17%, from operations with securities with fixed income decreased by 2%. The revenue of the division working with private clients increased by 8%, the business of state management and investment - by 1%. At the same time, the revenue of global banking business decreased by 2% with profit growth of 16%. The bank recorded an increase in the volume of deposits on the balance sheet by 3%, in the volume of the loan portfolio - by 5%.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...