Tuesday, March 31, 2009

Banks raise earnings expectations

Last month executives of the world’s largest banks, alarmed at collapsing share prices, told everyone what a profitable start to 2009 they had enjoyed. By the end of the month, shares were rallying. Let’s hope that actual first-quarter 2009 earnings announcements don’t pour cold water on their hopes. Peter Lee reports.

JPMORGAN STARTED IT at the very end of February. Mike Cavanagh, chief financial officer, told analysts that results for the first two months of the year had been “solidly profitable”, and roughly in line with his audience’s forecasts, which are for $40 billion in pre-provision pre-tax profit for the year. ...

The rest of this article is available to subscribers only

Please Subscribe or take a Free Trial below.
Already a subscriber? Log in here.

Awards for Excellence 2011

FX survey 2012 is now open

Banks raise earnings expectations

The rest of this article is available to subscribers only

Greek state-owned assets: for sale, one careful owner?

ICBC International: The epitome of cool

Brazil guide: The year of the Brazilian stranglehold?

The banking model is broken and needs to change now

Cash management debate: What cash management can do for corporates

Abigail on Nomura: an ugly end to a messy episode

FX survey 2012 is now open - vote now

Investment banking and market consolidation ramp up sector transformation

Facebook IPO gives venture capital industry a boost

The banking model is broken and needs to change now

Euromoney Awards for Excellence 2011

Banks raise earnings expectations

The rest of this article is available to subscribers only

Subscribe online today

Free 48 hour access