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Auditing
Are Financially Constrained Firms Bad Audit Clients?
Audit assurance becomes more valuable for financially constrained businesses as they face operational and financial uncertainty.
By
Ahmet Kurt
| February 7, 2023
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Profitability
Bank Profits Fall 1.2% to $69.5B in Q3
The dip in net income reflected a slowdown in the lowering of banks' loan loss provisions to negative $5.2 billion.
By
Matthew Heller
| November 30, 2021
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Financial Performance
Bank Profits Rise 29% to $76.8B in 1st Quarter
Still, net interest income fell by $7.6 billion, or 5.6%, the sixth straight quarterly decline, and average net interest margin fell to 2.56%.
By
Matthew Heller
| May 26, 2021
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Financial Performance
Bank Profits Rise 9% to $59.9B in 4th Quarter
“Banks remained resilient in fourth quarter 2020, consistent with the improving economic outlook,” the FDIC says.
By
Matthew Heller
| February 23, 2021
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Financial Performance
Ally Financial’s Profit Drops by More Than Half
“We saw steady improvement throughout the [second] quarter as shelter-in-place orders eased and dealers quickly adapted to the COVID environment."
By
Matthew Heller
| July 20, 2020
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Financial Performance
Goldman Crushes Estimates With $2.4B Profit
“Our strong [second-quarter] financial performance across our client franchises demonstrates the inherent benefits of our diversified business model."
By
Matthew Heller
| July 15, 2020
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Financial Reporting
HSBC Sets Aside $3B for Virus Loan Losses
“We are anticipating deep, severe recession events in western Europe and the U.S. in the second quarter."
By
Matthew Heller
| April 28, 2020
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Financial Performance
AmEx Takes Profit Hit, Plans Spending Cuts
"The first two months of 2020 continued the strong momentum we have delivered over the past two years, but we’re now in a different world."
By
Matthew Heller
| April 24, 2020
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Risk & Compliance
Ex-Credit Union CFO Claims Wrongful Firing
Timothy Ross alleges Nutmeg State Financial Credit Union fired him for trying to expose an "illegal scheme" to boost the CEO's pay.
By
Matthew Heller
| June 6, 2016
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Financial Performance
U.S. Banks’ Profits Show First Drop in 2 Years
The industry's first-quarter results were mixed, with loan balances growing at the highest rate since 2009 and operating revenue up 2.7%.
By
Matthew Heller
| June 2, 2016
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Risk
American Banks: Not Yet Out of the Woods
The good times are ending before they had really begun.
By
Economist Staff
| January 25, 2016
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