April 29 (Reuters) – BBVA, the second largest bank in Spain, announced a 9.8% decline in net income in the first quarter on Monday, despite strong performance in Mexico, its main market, the sharp depreciation of the Turkish lira in 2018, which in Turkey reduced its result by 29%.
However, the net profit of EUR 1.16 billion was slightly higher than the average forecast of the analysts asked by Reuters, which expected it at EUR 1.15 billion.
Net interest income was in line with analysts' expectations, up 3% yoy to EUR 4.42 billion, but down 5.8% from the previous quarter.
Other quarterly results of other companies in the sector:
* BANKIA-REVERSE 10.8% NET PROFIT IN Q1
April 29 (Reuters) – Bankia, Spain, posted a 10.8% decline in net earnings in Q1 on lower trading earnings and fierce competition in the global banking sector on Monday. loans.
Net profit was 205 million euros, a little over € 196 million expected on average by Reuters analysts.
Net interest income was EUR 502 million, down by 4.7% yoy and 1% from Q4 2018.
* RBS EXCEEDED EXPECTATIONS IN Q1, REPLACEMENT OF GR EQUIPMENT
April 26 – Royal Bank of Scotland announced a higher net income on Friday than expected in the first quarter following the announcement by CEO Ross McEwan of his intention to leave the office during the year, opening a new era for public control after the 2008 financial crisis.
RBS reported a net profit of £ 707 million (€ 819.13 million) over the analysts' consensus made by the bank itself, which was £ 546 million, but less than £ 792 million issued at the same level. period a year ago.
On Thursday, RBS launched the Ross McEwan recruitment process, where Alison Rose led the Group's business and private banking activities and became the most popular partner.
* D.BANK-BOND PROFITS IN Q1, INVESTMENT BANK TO SCIENCE
April 26 – Deutsche Bank announced a 19% decline in its bond trading division, the Bank's cash cows, in the first quarter, illustrating the continuing weakness of its investment banking business.
The investment bank's net banking income, which accounts for more than half the total revenue of the first German branch, was EUR 3.3 billion, 13% less than in the same period a year ago,
However, the Bank's net profit increased 68% to EUR 201 million.
Shortly after the merger negotiations with Commerzbank announced on Thursday, Deutsche Bank released preliminary results and expected a net profit of € 200 million in the first quarter against € 29 million. expected by analysts' consensus.
* LAZARD EXCEED EXPECTATION WITH ITS PROFIT IN Q1
April 25 – Investment Bank Lazard reported quarterly earnings above expectations on Thursday, its M&A advisory activity benefiting from the most dynamic start of the year in the United States since 2000.
In the first three months of the year, the net income group dropped $ 97 million, or 80 cents a share, from $ 159.7 million ($ 1.21 / share) a year earlier. It was 87 cents a share on a adjusted basis. Analysts expected 65 cents per share, according to Refinitiv's IBES.
* CREDIT SUISSE REGISTRIES INCORRECT DEBT OF THEIR PROFITS
April 24 – Credit Suisse, the first major European bank to release its first quarter results, announced unexpected profit growth, performance of its equity business, and strengthened links between business and investment activities. a private bank offsets lower returns in other divisions.
The second Swiss bank thwarted analysts' predictions about a downturn in profits, its "Global Markets" business division, the goal of many critics in recent years, to gain market share in equity during the year. a quarter of its major US competitors in Goldman Sachs GS.N and Morgan Stanley MS.N show a decline of more than 20% of their revenue in this area.
"We think we're up the ranking in stock trading," said CEO Tidjane Thiam in a conference call with analysts. "We continue to gain market share with our major customers."
* MORGAN STANLEY BANKING NET PRODUCT BREAKS EXPECTATION
April 17 – Morgan Stanley announced net Wednesday's income over expectations in the first quarter, to $ 10.3 billion against 9.93 billion estimated by consensus IBES Refinitive.
However, the US bank recorded a 9% decline in quarterly earnings due to a decline in stock trading and low market volatility bonds.
The shareholder earnings were reduced to $ 2.34 billion, or $ 1.39 per share, from $ 2.58 billion or $ 1.45 a share a year ago. On a adjusted basis, the Bank posted earnings per share of $ 1.33.
* BOFA RECOGNIZES ITS LOANS ADVANTAGES
April 16 – Bank of America announced a 6% increase in earnings for the first quarter, an increase in the loan portfolio, and a cost reduction to offset the decline in investment bank revenue.
Net income climbed to $ 6.87 billion (€ 6.1 billion), or $ 0.70 per share, versus $ 6.49 billion ($ 0.62 per share) a year ago. Net banking income remained stable at $ 23 billion.
Financial analysts, according to IBES Refinitive, averaged $ 0.66 per share and $ 23.3 billion.
* INCREASE RESEARCH AND BENEFIT, BROWN DOWN
April 15 – Citigroup earned a 2% profit in the first quarter, supported by investment banking revenue and net interest margin growth.
Net income was $ 4.71 billion (€ 4.16 billion) during the first three months of 2019, or $ 1.87 per share, compared to $ 4.62 billion ($ 1.68) a year ago. a year earlier. By contrast, net banking income (GNP) fell 2% to $ 18.58 billion.
Analysts expected earnings per share of $ 1.80 per net banking profit of $ 18.63 billion, according to Refinitiv's IBES.
* GOLDMAN SACHS-T1 DOWN BENEFITS 20%
April 15 – Goldman Sachs announced Monday a 20% decline in its quarterly earnings, under the influence of both bond yields and equity due to low market volatility during the period t
Earnings per share fell to $ 2.18 billion (€ 1.92 billion), or $ 5.71 per share, compared to € 2.74 billion (€ 6.95 billion) in the first three months of the year. dollars / share) a year ago.
According to Refinitiv's IBES, financial analysts expected an average of $ 4.89 per share.
* WELLS FARGO REDUCES ITS PRESENT OF THE SECURING INTEREST
April 12 – Wells Fargo lowered net interest income forecast this year, a announcement that blacked out first quarter earnings by 16.4% to $ 5.51 billion (€ 4.87 billion), ie 1 $ 20 per share, which is influenced by its decisive cost-cutting policy.
Californian bank executives also disappointed investors by not submitting a deadline for the capping of the corporate balance sheet that the Federal Reserve had imposed after its ghost account scandal. more than two years.
Wells Fargo now estimates a decline in net interest income of between 2% and 5% from the previous range of + 2% to -2% this year.
* JPMORGAN CHASE BAT CONSENSUS IN T1
April 12 – JPMorgan Chase said Friday's Q1 results above expectations, easing concerns about the possible impact of the economic slowdown, after using higher interest income with continuing rate hikes in the United States per year.
Loans from the retail banking division grew by 4% in the fourth quarter and net banking profit grew by 4.7% to $ 29.85 billion, as the market expected growth. , 44 billion according to Refinitive IBES.
Net income rose 5.4% to a record $ 9.18 billion, or $ 2.65 billion, while analysts expected an average of $ 2.35 billion. dollars.
Interactive chart of changes in bank profit estimates: tmsnrt.rs/2HOVt1D)