______________________________________________________
A Bad Day for Big Banks on Wall Street
By David Rovella
April 12 2024 – BLOOMBERG
JPMorgan and Wells Fargo both reported net interest income—the earnings they generate from lending—that missed analysts’ estimates Friday. At JPMorgan, that income slipped from the prior quarter for the first time in almost three years. Shares of the largest US bank fell the most since 2020. With stubborn US inflation making it more likely the Fed will have to delay interest-rate cuts, shareholders were eager to hear how much more that might boost revenue from lending. Instead, banking executives took turns talking about how depositors are chasing higher returns on their savings. At Wells Fargo, deposits that don’t pay interest slumped 18% from a year earlier, while those that do jumped.
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is an informational news aggregator. All content, including third-party reports and community commentary, is provided for educational purposes only. We do not provide financial, legal, or tax advice. We do not recommend the purchase or sale of any currency or investment. Please consult with a licensed professional before making any financial decisions.
Copyright © Dinar Chronicles
______________________________________________________
