PYMNTS

AUGUST 11, 2020

With its losses mounting, the London-based digital bank may need to tap into its corporate reserves to keep up with its expansion plans. The company posted a total loss of $139.6 Revolut attributed the losses to its expansion into new markets and the introduction of new products. million (£106.5

Profit and Loss 95

Profit and Loss Foreign Exchange Startups Banking 95

Global Finance

MAY 8, 2024

In the Asia-Pacific (APAC) region last year—as in 2022—net interest margin (NIM) dynamics were optimal for banks in Southeast Asia, Australasia, Hong Kong and India. Lending rates followed central bank tightening moves, while deposit rates lagged; and across the region, there were some record profits. billion; a 2.3%

Banking 52

Banking Profit and Loss Construction Retail 52

PYMNTS

MAY 1, 2019

Credit card losses at the biggest banks are outpacing auto and home loans, with the biggest margin seen in the last 10 years, according to Bloomberg. Credit bureau Experian said some of the blame comes from banks giving cards to risky borrowers, and that there is a spike in late payments from elderly consumers. For us, the U.S.

Profit and Loss 76

Profit and Loss Banking 76

The Charity CFO

DECEMBER 27, 2023

Does your nonprofit have ownership of a for-profit entity? Whether your organization owns a for-profit company outright or has limited ownership, a for-profit subsidiary can have serious tax implications for your nonprofit. Nonprofits with excess holdings may face an excise tax on the value of shares over the limit.

Nonprofit 52

Nonprofit Profit and Loss CFO Communication 52

PYMNTS

OCTOBER 30, 2019

Germany’s Deutsche Bank reported a net loss below market expectations amid a restructuring plan that includes about 18,000 layoffs, The Wall Street Journal (WSJ) reported Wednesday (Oct. The lender reported a net loss of $924 million (832 million euros) for the third quarter of 2019. percent drop in the closing share price.

Restructuring 41

Restructuring Profit and Loss Banking Concentration 41

PYMNTS

MAY 22, 2020

A large share of the banking sectors of nine advanced economies, by assets, may not be able to bring in profits higher than their cost of equity in 2025, according to a simulation exercise cited in the “Global Financial Stability Report” by the International Monetary Fund (IMF).

Profit and Loss 64

Profit and Loss Banking Forecasting Currencies 64

CFO Simplified

AUGUST 14, 2022

Businesses depend on banks for more than just loaning money. Owners rely on banks to deposit cash, transfer funds, and process checks sent out to suppliers. Banks provide services that are essential to business owners, which is why it is important for business owners to maintain a good relationship with their bank.

Banking 98

Banking Profit and Loss CFO Financial Reporting 98

PYMNTS

OCTOBER 16, 2020

As it aims to bolster methods of market exit and risk disposal for institutions that loan money, the central bank of China introduced a draft of updates to legislation applicable to commercial banks, Reuters reported. In May 2019, the government took over Baoshang Bank in the first seizure of its kind in almost 20 years.

Profit and Loss 112

Profit and Loss Banking Construction Communication 112

CFO News Room

JANUARY 13, 2023

bank by assets rose more than 2% after the firm posted fourth-quarter profit and revenue that topped expectations. The New York-based bank said profit jumped 6% from the year earlier period to $11.01 Interest income at the bank surged 48% on higher rates and loan growth. Wells Fargo – The bank stock dipped 0.1%

Profit and Loss 130

Profit and Loss Banking Valuation Sales 130

Adam Kae

NOVEMBER 17, 2023

Here at Adam Kae & Associates we aim to shed light on the common practice of solely relying on the bank balance and emphasizes the importance of a more comprehensive and holistic approach to financial management. There is an illusion of adequacy that comes with merely glancing at your bank statement, but it's not good enough.

Finance 52

Finance Profit and Loss Banking Prioritization 52

Michigan CFO

JULY 13, 2021

And in Q1 of 2017, investors were pleased the company reduced its quarterly loss to $708M from the Q4 2016 loss of $991M. From CNNtech: “To many readers, the loss is nothing short of staggering. Losses down, even though they keep investing heavily around the world.” The time to be profitable is ALWAYS.

Profit and Loss 52

Profit and Loss Math Sales CFO 52

PYMNTS

OCTOBER 23, 2019

Metro Bank Co-founder and Chairman Vernon Hill stepped down as chairman on Wednesday (Oct. 23) after the bank reported a net loss of £4.9 Earlier this year, Metro Bank revealed an accounting error that kicked off a rocky year, and led some of its top clients to leave the bank. million ($6.3

Banking 40

Banking Profit and Loss Accounting Planning 40

PYMNTS

APRIL 14, 2020

The International Monetary Fund (IMF) cautioned that COVID-19 has made “cracks” in the worldwide financial system known and “will likely” have financial institutions encounter market and credit losses that will put their reserves to the test. The IMF also pointed out emerging stress in the U.S.

Financial Systems 60

Financial Systems Profit and Loss Marketing Banking 60

CFO News Room

JANUARY 19, 2023

related investing news Charles Schwab — The bank stock lost more than 6% after Bank of America double-downgraded shares to an underperform rating, saying that clients will continue moving cash into alternatives such as money market funds. Philip Morris — The Marlboro parent gained 2.4% Alcoa — Shares of the aluminum company fell 4.6%

Profit and Loss 130

Profit and Loss Investments Banking Marketing 130

Musings on Markets

MAY 5, 2023

In March 2023, the fall of Silicon Valley Bank shocked investors not only because it was unforeseen, but also because of the speed with which it unfolded. That failure has had a domino effect, with Signature Bank falling soon after, followed by Credit Suisse in April 2023 and by First Republic last week.

Banking 76

Banking Profit and Loss Securities Investments 76

Future CFO

OCTOBER 28, 2019

HSBC’s CFO Ewen Stevenson said the bank plans to restructure its loss-making businesses after announcing an 18% year-on-year drop in pre-tax profit in Q3 on Monday. The Hong Kong-listed bank reported pre-tax profit of US$4.8 billion average of the banks’ analyst estimates. billion, compared with the US$5.3

Restructuring 40

Restructuring CFO Profit and Loss Banking 40

PYMNTS

APRIL 13, 2020

(and international) consumer and the businesses that serve them will be center stage as earnings season gets underway, starting, as always, with a slew of big banks. The last time we had earnings season, stretching from mid-January into the end of February, banks pointed to the continued strength of the U.S. and the U.K.,

Banking 124

Banking Profit and Loss Sales Communication 124

PYMNTS

OCTOBER 12, 2020

European digital bank Revolut , the continent's largest such institution with 13 million users, is close to applying for a U.S. digital banking license, according to a report by CNBC. Revolut's bank charter will be with California, but it will allow the bank to operate anywhere in the U.S., Revolut is valued at $5.5

Banking 107

Banking Profit and Loss Startups Marketing 107

Creative CFP

OCTOBER 12, 2020

The profit and loss statement (or P&L in accounting jargon) is arguably the central management statement for most SMEs, recording the majority of operational activities over any period of time, usually monthly. From the profit and loss statement a revenue-to-salaries ratio can be determined.

Profit and Loss 52

Profit and Loss Invoicing Entertainment Accounting 52

PYMNTS

SEPTEMBER 29, 2020

A team of police and investigators raided the headquarters of KfW , a German state-owned development bank, over a 100 million euro ($117 million) loan it made to Wirecard , the Financial Times (FT) reported. KfW Ipex Bank , a subsidiary, provided Wirecard with the unsecured loan two years ago and extended it last year, according to FT.

Profit and Loss 109

Profit and Loss Banking Accounting 109

PYMNTS

NOVEMBER 12, 2018

Online lender Social Finance (SoFi) continues to struggle, recording an adjusted loss of around $12 million during the third quarter before interest, taxes, depreciation and amortization. The FinTech company has now recorded losses for the second consecutive quarter. In August, it posted a second quarter loss of about $200 million.

Profit and Loss 73

Profit and Loss Leadership Investments Finance 73

PYMNTS

NOVEMBER 5, 2018

Ant Financial , the Chinese FinTech giant and an affiliate of Alibaba Group , posted an earnings pre-tax loss of 2.4 The Wall Street Journal ( WSJ ), citing Ant, reported that the company had a pre-tax profit of 5.3 Alibaba blamed the loss on increased investments to capture growth. billion yuan for the same quarter a year ago.

Profit and Loss 53

Profit and Loss Startups Investments eCommerce 53

PYMNTS

JUNE 17, 2016

Get ready for some sinking bank profits. The Wall Street Journal reported on Thursday (June 16) that accounting rules are taking effect that would ensure that banks would have to report loans going south much earlier than had been done before, which may push reserves higher, eating into profits.

Profit and Loss 40

Profit and Loss Banking Accounting Standards Accounting 40

PYMNTS

AUGUST 3, 2020

HSBC, Europe’s biggest bank, has seen its profits plunge in the first six months of 2020, squeezed by low interest rates and the COVD-19 pandemic, The Telegraph reported. The bank’s bad debts are expected to rise to $6.2 Pre-tax profits fell to $4.3 billion loss, the newspaper reported. Pre-tax profits fell to $4.3

Profit and Loss 56

Profit and Loss Banking Securities Investments 56

PYMNTS

OCTOBER 28, 2019

Losses at some HSBC businesses are causing the bank — Europe’s largest — to restructure, CNBC reported Monday (Oct. HSBC posted an 18 percent loss in pre-tax profits for the third quarter of 2019, compared to the same period last year, reports said. businesses. The quarter posted $4.8 billion for the quarter.

Restructuring 40

Restructuring Profit and Loss CFO Banking 40

PYMNTS

AUGUST 30, 2020

With profits and margins at all-time lows, the U.S. banking system is in flux as customer deposits surge and make the safety net for failures fall below a legal limit, The Wall Street Journal (WSJ) reports. Those numbers were huge increases from the past several years, which never saw credit loss provisions going above $20 billion.

Profit and Loss 82

Profit and Loss Banking Numbers Risk Management 82

PYMNTS

OCTOBER 22, 2020

HSBC will be restructuring its commercial banking business in Britain which will result in 300 job cuts, according to Reuters. The cuts come as part of Europe's largest bank's larger restructuring effort from earlier this year, with HSBC looking to cut costs worldwide as the ability to boost revenues becomes more difficult.

Restructuring 91

Restructuring Profit and Loss Banking Economics 91

CFO News Room

NOVEMBER 3, 2022

after the company reported a smaller-than-expected quarterly loss as well as revenue that topped analyst forecasts. Deutsche Bank thinks investors should follow Icahn’s suit as the firm sees a 45% upside in the stock. UBS highlighted Tal’s strong topline beat and improved profitability outlook. per share loss.

Profit and Loss 130

Profit and Loss Forecasting Education Sales 130

CFO News Room

JANUARY 8, 2023

Bed Bath & Beyond — The retailer dropped 12.4%, building on the sharp losses seen Thursday, after management said the company is low on cash and considering bankruptcy. Silvergate Capital – The crypto-focused bank added to its Thursday losses following a downgrade from JPMorgan to neutral from overweight.

Entertainment 130

Entertainment Profit and Loss Sales Retail 130

CFO News Room

NOVEMBER 24, 2022

Check out the companies making headlines before the bell: Deere (DE) – The heavy equipment maker reported better-than-expected profit and revenue for its latest quarter and issued an upbeat outlook. The computer maker also reported better-than-expected profit and revenue for its latest quarter. Its stock jumped 4.2%

Profit and Loss 130

Profit and Loss Valuation Economics Sales 130

CFO News Room

NOVEMBER 12, 2022

in the premarket after Deutsche Bank upgraded the stock to buy from hold. The provider of online language classes also reported a smaller-than-expected quarterly loss and increased its full-year revenue outlook. LegalZoom reported a quarterly loss that was smaller than analysts had anticipated and raised its full-year revenue forecast.

Profit and Loss 130

Profit and Loss Forecasting Healthcare Banking 130

PYMNTS

AUGUST 6, 2020

Monzo Bank Ltd, the London-based online bank, must now have a capital worth of 13.6 percent of its risk-weighted assets to guard against potential losses. The Financial Times (FT) reported the new requirements are among the first signs the Bank of England ( BoE ), the United Kingdom’s (U.K.) the newspaper reported.

Banking 78

Banking Profit and Loss Auditing Startups 78

CFO News Room

NOVEMBER 7, 2022

The investment bank said the online real estate company’s business model is flawed. Berkshire Hathaway — Shares of Warren Buffett’s conglomerate rose more than 1% after the company posted a 20% increase in operating profits during the third quarter. Berkshire also spent $1.05 billion in share repurchases during the quarter.

Profit and Loss 130

Profit and Loss Investments Marketing Sales 130

CFO News Room

NOVEMBER 23, 2022

banking regulators. Deere — Shares of the heavy equipment maker jumped 5.8%, on track for a record close, after the company reported better-than-expected profit and revenue for its fiscal fourth quarter. Credit Suisse – The bank dropped 6.7% billion in quarterly losses tied to customers pulling money.

Profit and Loss 130

Profit and Loss Financial Data Economics Sales 130

Barry Ritholtz

DECEMBER 11, 2023

billion in retail inventory losses in 2021 was not “attributable to organized retail crime.” retailers retracted its claim that “organized retail crime” accounted for nearly half of all inventory losses in 2021 after finding that incorrect data was used for its analysis.” No, “ nearly half ” of $94.5

Retail 141

Retail Profit and Loss Forecasting Accounting 141

Barry Ritholtz

MARCH 20, 2023

Silicon Valley Bank depositors made whole; Credit Suisse counter-parties saved; First Republic bondholders protected — are these bailouts or something else? Eat what you kill” is the classic Wall Street attitude toward risk and reward, profit and loss. Were these people “bailed out?”

Profit and Loss 127

Profit and Loss Banking Risk Management Financial Systems 127

CFO News Room

NOVEMBER 9, 2022

Disney — Shares of the media giant slid more than 11% after the company’s quarterly results missed Wall Street expectations on revenue and profit, as both its parks and media divisions underperformed estimates. after the company reported another quarterly loss as operational costs increased. AMC Entertainment — Shares dropped 9.8%

Profit and Loss 130

Profit and Loss Entertainment Forecasting Technology 130