JPMorgan Expects Income Boost From First Republic Bank Deal
JPMorgan Chase & Co published a presentation ahead of its investor day on Monday in which it claimed that its net interest income would rise by $3 billion this year following the acquisition of the failed First Republic Bank.
Shut down last month, First Republic...
U.S. Bank Lending Fell Marginally Following Failure of First Republic Bank
U.S. bank lending fell marginally during the week after the failure of First Republic Bank, data from the Federal Reserve on Friday revealed. The bank, which was acquired by JPMorgan Chase & Co, was the United States' second-largest single bank failure.
Commercial bank lending declined...
Bank Leumi Expects 50% Drop in Q1 Profits Following Decline of U.S. Arm
Bank Leumi, Israel's largest bank by assets, announced on Sunday that it expects a 50% decline in its profits for the first quarter of 2023. This comes after news of the decline in the valuation of the bank's U.S. unit.
Shares in Leumi were up...
“Catastrophic” to Let SVB Depositors Lose Money, Buffett States
Chairman of Berkshire Hathaway Warren Buffet stated on Saturday that it would have been "catastrophic" to allow depositors in Silicon Valley Bank to lose their money after U.S. regulators took over the bank following its collapse.
In response to the bank's failure in early March,...
U.S. Bank Deposits Fall to Two-Year Low
U.S. bank deposits fell to their lowest level in almost two years in late April, data released by the Federal Reserve on Friday showed. Overall credit provided by banks increased, while a record level of outstanding loans was reached.
Deposits at large U.S. banks declined...
PacWest Explores Sale in the Face of Stock Plunge
PacWest Bancorp has reportedly been exploring strategic options including the potential sale of the company and a capital raise as the lender's stock continues to plummet. This comes after the liquidity boost that PacWest announced in March failed to inspire investor confidence and improve...