In the first quarter, US banks increased their cumulative net income by 8.7% year-on-year to $60.7 billion. These data are reported by the Federal Deposit Insurance Corporation. Of the 5,362 US financial institutions, statements of which were analyzed, more than two thirds indicated an increase in profits. The share of unprofitable banks was below 4%. During the earnings period, the net interest income of banks amounted to 139.9 billion dollars, an increase of 6% over the year. Net interest margin was 3.42% versus 3.32% a year earlier. An increase in the average return on assets of banks to 1.35% from 1.28% was also noted. Reports of banks indicated an annual increase in total volumes of loans on their balance sheets. The figure rose by 4.1%. At the end of the quarter, 59 problem banks were recorded in the country, which is the lowest figure since the first quarter of 2007.
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 ...