Corporate Banks Profit despite bad times

Bank profits go through roof despite bad debts

HSBC, the country's biggest bank and the third biggest in the world, may even break last year's record of $20.9bn (£10.7bn) of profits despite its unprecedented warning about problems in its US arm, which caused City analysts to knock up to 10% off their forecasts.

Deutsche Bank profit surges on trading revenue

Net income rose to €1.8 billion, or $2.35 billion, from €487 million a year earlier, the bank said. Profit beat analysts' estimates of €1.39 billion as the company's tax rate unexpectedly fell to 22 percent from 31 percent in the third quarter. Revenue advanced 9 percent to €7.16 billion.

Deutsche Bank, which gets the biggest portion of its revenue from debt trading, posted a 23 percent jump in equities, compared with analysts' estimates for no growth. Even with the increase, gains from trading stocks last year trailed the biggest U.S. securities firms, led by Goldman Sachs and Merrill Lynch.

“They've been able to further strengthen their position in sales and trading,” said Florian Esterer, a fund manager at Swisscanto Asset Management in Zurich. “However, adjusted for one-off items, the results are pretty much in line with what analysts expected.”

Deutsche Bank shares rose 5 cents to close at €108.49 in Frankfurt. The stock rose 24 percent last year, compared with the 34 percent average increase in the shares of its New York rivals, Goldman, Merrill, Morgan Stanley, Lehman Brothers Holdings, Bear Stearns, Citigroup and J.P. Morgan Chase. More here

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World Business Briefing | Europe: France: Bank's Profit Rises

The French bank BNP Paribas said first-quarter profit rose 56 percent, helped by acquisitions in the United States, a decline in bad-debt provisions and the sale of a stake in a French construction company. Net income rose to 1.72 billion euros ($2.2 billion) from 1.10 billion euros. Revenue from international banking and financial services rose 13 percent. The bank set aside 103 million euros for bad debts, down 62 percent from a year earlier. The buyout unit increased pretax profit 56 percent on the sale of its shares in the construction company Eiffage. BNP Paribas shares rose 4 percent. More here

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China's top lender, Industrial and Commercial Bank of China, posted a 31% jump in 2006 profit on Tuesday, lagging market expectations but topping its own forecast on improving loan quality and sharp growth in fee income.

This came up with Bank Profit search at google. Not much for US banks it seems.

Here's an Alternative

For some reason the link is not working

Cheers

Re: Corporate Banks Profit despite bad times

Top Ranking Corporations in Forbes2000 Biggest Companies 2007 List, in terms of assets are all Banks and financial institutions].  Also see  interms of composite  Rankings 5 among top 10  are  Corporate  Banks.  One has to wonder why Corpwatch, GreenPeace, Zmag  and  man progressive  groups do not go after Global Banks, who funds all global  corporate-military-industrial-media-entertainment complex?

Re: Corporate Banks Profit despite bad times

When Barclays merge with ABN AMRO, their worldwide assets total will be a massive, $3,320 billion.

Re: Corporate Banks Profit despite bad times

Of course most of those assets are actually debts…….i'm looking at the profit numbers for NZ banks over the last year.

Most profitable bank is the ANZ which made NZ$1.036bln last year. It has debts of $81bln and shareholders equity of just $8.4bln.

Easy money. The 4 major banks here took out nearly $3bln in profit AFTER tax last year, all overseas (Australian) owned.

M3 was up 16% last year.

In New Zealand there is an inquiry by a Parliamentary Select Commitee into monetary policy. This has come about because our interest rates, at 7.75%, are the highest in the major financial nations and our currency is very strong. Both these are crippling business and exporters whic hare important for the economy.

I see this as an opportunity to get the banking system on the agenda here. Fingers crossed.

Re: Corporate Banks Profit despite bad times

Yes they are debt technically, yet banks collect pure usurious profit on them without any labor. The assets or wealth of Banks are accumulated or concentrated over the years via issue of money/credit/loan as debt (under FR system)…that is by indebting people, businesses, governments…and collection of compound interest (usury).

SBI posts 75 percent rise in net profit

India's News.Net
Saturday 12th May, 2007 (IANS)

Re: Corporate Banks Profit despite bad times

Yes there are definitions for M0-M4 but they are not always simple and may differ from country to country.

Here is an example from NZ:


http://www.rbnz.govt.nz/statistics/monfin/c1/description.html



Interestingly enough the American Monetary Act from AMI has this issue as one of its main goals. The Federal Reserve has stopped publishing M3 statistics which is a major worry. M3 is the most used measure of money supply.

Here is the proposal from AMI

http://www.monetary.org/monetarytransparency.htm

The Fed giving up on M3 is a signal to be quite concerned over the state of the US$. Yet the US stock market continues to power on.

Gulp!