Free Trial

Topical Highlights in Today's Bank Earnings (1/3)

EQUITIES

On commercial real estate:

  • Wells Fargo : Rise in commercial net loan charge-offs driven by commercial real estate (and office space specifically), up $284mln on the quarter
  • Bank of America : NPLs of $5.5bln rose by $652mln, driven primarily by commercial real estate

On Average Deposits:

  • Wells Fargo : 3% Y/Y decline in average deposits driven by customer migration to higher yielding alternatives, and higher consumer spending.
  • Bank of America : Average deposits up $29bln, or 2% on the quarter, while average loans “modestly” higher.
  • BNY Mellon : Average total deposits down 4%, but up 4% on the quarter to $273bln.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.