News Source: Channel NewsAsia
| about 1 month ago
Bank of America on Friday announced a steeper-than-expected net loss of 1.0 billion dollars in the third quarter, linked to hefty writedowns of assets from Merrill Lynch and other charges. The total loss for shareholders was even larger, at 2.24...
News Source: Turks and Caicos Free Press
| about 1 month ago
Bank of America Corp ( BAC .N) posted its second quarterly loss in less than a year as it suffered from consumer credit losses. The nation's largest bank reported a net loss of $1 billion, or 26 cents per share, for third quarter, compared with net...
News Source: The Economic Times
| about 1 month ago
Citigroup, the lender 34% owned by the US government, posted a $101 million profit, defying expectations for a loss, as the company added the smallest amount to loan-loss reserves in two years. The third-quarter profit compared with a loss of $2.82...
News Source: Simi Valley - Moorpark Examiner
| about 1 month ago
Banks including Citigroup had warned when second-quarter earnings were released that loan losses would continue into next year. Investors nonetheless reacted negatively to the bank's report of continuing heavy loan losses, and sent Citigroup shares...
News Source: Fox News
| about 1 month ago
Chief Executive Vikram Pandit during the firm's third-quarter conference call Thursday said Citi's credit costs "remain elevated and clearly U.S. consumer credit remains the No...Pandit said net credit losses declined for the first time since the...
News Source: Androscoggin News
| about 1 month ago
Schwab shares fell almost 5% after the online financial services firm said Thursday that its third-quarter profit fell 34% even as clients continued to put more money to work with the online financial-services provider. "We have seen the fear that...