Company Reports

COF 2Q15: Oil-n-Gas & Uber Ouch - Cards Weaker Too


Significant YoY net income decline and substantial increase in provisions offset revenue growth.  COF is well capitalized and continues to diversity its portfolio. COF COF COF


STT 2Q15: Not Excited About Excess


Business growth in custody and asset management provided earnings lift.  Excess deposits still growing despite higher charges.  FX legal accruals weighed on results for fourth straight quarter.  Remixing investment portfolio for capital, liquidity and profitability purposes.

AXP 2Q15: Post-Partum (Costco) Depression


Even with strong segment growth across USCS, ICS and GNMS, AXP seeks to regain footing post-Costco divesture; positive traction in rewards programs brewing. 

Launch Discover: Competition & Compliance Clamps


Discover had the card growth field wide open following the credit crisis years which led to strong volumes and loan growth. But competition is heating up, especially in its Cash Back category, just as compliance costs ramp up too.

Launch NTRS 2Q15: Growth with Less VISA


Strong business growth in custody and asset management provided earnings lift.  Lower capital constraints allows it to pick up European excess deposits shed by others in bid to grow business.  Money market funds still affecting profitability.

Credit Suisse 2Q15 Ahead: Thiam Talks, Full Vision TBD


Credit Suisse’s new CEO Thiam will focus on Global Wealth Mgt. highly integrated with Global Investment Banking pivoted to the fast growing APAC region. A more formal repositioning review to come this Fall, but this early-vision is not unique among global banks in a highly competitive arena.

BNY Mellon 2Q15: Operations Reform Good for Growth


Solid business growth and expense reduction propelled higher profitability.  Structural changes in business operations are increasing growth and lowering costs.

Citigroup 2Q15 FI Call:  GSIB Buffer Baked In


Citi’s GSIB surcharge is lower than expected, driving down expected TLAC needs.  Balance sheet management from asset sales in Citi Holdings to bond redemptions should improve profitability, lower RWA and reduce TLAC needs.

Fifth Third 2Q15: Digital Destruction of Regional Branches


FITB shows some loan growth, but not very convincing. Downsizing branches as digital banking breaks down the branch usage. 

Regions 2Q15: Dodges Energy Bullet, Not Much Growth


RF skirted the energy spike that nailed Comerica this quarter. Still, the loan growth and better fee income may not be sustainable. High SNC concentration is a worry.

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