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HONG KONG: Standard Chartered PLC posted a higher than expected 57% jump in first-half pretax profit and announced a $250 million share buyback, with the bank also resuming dividend payments by unveiling a 3 cents per share interim payout.
China’s Big Four state-owned banks’ first-quarter earnings growth comes in line with analysts’ expectations
China Construction Bank led the profit growth, reporting a net income of 83.1 billion yuan (US$12.85 billion), up 2.8 per cent year on yearICBC was the only major bank that did not see a drop in its bad-loan ratio, which was unchanged at 1.58 per cent at the end of March
LONDON: HSBC Holdings PLC reported better-than-expected quarterly profit and released $400 million it had set aside to cover pandemic-induced bad loans, as successful vaccine rollouts in the United States and Britain prompted a brighter economic outlook.
NEW YORK: Wall Street indexes closed mixed on Wednesday, with the Nasdaq Composite and S&P 500 falling despite another record intraday high for the latter and big banks' stellar results on the first day of earnings season.
HONG KONG/LONDON: HSBC Holdings PLC on Tuesday signalled it would embark on a pandemic-induced overhaul of its business model, seeking to flip its main source of income from interest rates to fee-based businesses.
SYDNEY: Australia's Westpac Banking Corp said on Wednesday it will exit operations in China and some other Asian markets to focus on its core domestic and New Zealand businesses, following a review of its international operations.
SYDNEY: Commonwealth Bank of Australia (CBA) slashed its annual dividend by more than half to the maximum payout allowed by regulators, even as bad loan provisions amid the coronavirus pandemic drove its annual cash profit below market expectations.
HONG KONG: Standard Chartered PLC (StanChart) said its first-quarter profit tumbled 12%, as the emerging markets-focused bank boosted provisions against bad loans as the coronavirus crisis hammers its borrowers.
TOKYO: Mitsubishi UFJ Financial Group Inc (MUFG) has reported a 6.3% drop in net profit for the six months through September, as its profit in the same period of last year was buoyed by the release of bad loan provisions.