The Bank of New York Mellon Corporation today reported a third quarter loss from continuing operations applicable to common shareholders of $2.439 billion, or $2.04 per common share, compared with income of $303 million, or $0.26 per common share, in the third quarter of 2008 and $267 million, or $0.23 per common share, in the second quarter of 2009.
«Consistent with our ongoing strategy to reduce balance sheet risk, we took advantage of the recent strength in the fixed income markets by selling or recognizing losses on a significant portion of our investment securities portfolio. This restructuring does not materially impact capital, is expected to benefit net interest revenue by $125-$175 million in 2010, and significantly reduces the risk of future securities losses», said Robert P. Kelly, chairman and chief executive officer of BNY Mellon.
«During the quarter, we remained focused on organic growth, continuing to provide exceptional client service and reducing expenses which resulted in positive operating leverage,» added Kelly.
Net loss applicable to common shareholders, including discontinued operations, totaled $2.458 billion, or $2.05 per common share, in the third quarter of 2009, compared with net income of $303 million, or $0.26 per common share, in the third quarter of 2008 and $176 million, or $0.15 per common share, in the second quarter of 2009.
Source: Bank of New York MellonDate: 20.10.2009
| |  Three Swiss bankers indicted by U.S. in tax crackdown - 09.01.2012
U.S. authorities are moving toward taking legal action against Wegelin & Co., which could lead to an indictment of one of Switzerland's last pure private banks, on charges that it enabled wealthy Americans to evade taxes, according to two persons with knowledge of the case.
Source: Reuters |
| | Islamic finance assets to hit US$ 1.1 trillion in 2012 - 22.11.2011
Islamic finance assets around the world are expected to climb 33% from their 2010 levels to $1.1 trillion by the end of 2012, boosted by the aftermath of the Arab Spring uprisings and dissatisfaction with conventional finance in the wake of the global debt crisis, consultants Ernst & Young said in a report on Tuesday.
Source: Reuters |
| | Credit union business grows as consumers sour on banks - 07.11.2011
The big banks may have dropped the debit card fees, but the credit unions are the ones picking up the business.
Source: Reuters |
| | Spanish bank ratings downgraded by Fitch and S&P - 12.10.2011
Two leading credit rating agencies have downgraded some of Spain's largest banks, citing a deteriorating outlook for the Spanish economy.
Source: BBC News |
| | Spotlight on Islamic Retail Banking – strategies for fast growing industry - 07.10.2011
Islamic Banking is young but fast growing industry what brings challenges as need for standardization, expanding at the market (now < 1% population is banking Islamic Banks), lack of public awareness about Islamic Banking (misinterpretation) and limited resources of qualified people in this particular industry.
Source: Fleming Gulf |
| | JBIC inks $43bn credit line pact with Japan banks - 05.10.2011
The Japan Bank for International Cooperation (JBIC) said Wednesday that it has signed separate pacts with three major Japanese banks to give them a combined $43 billion, or Y3.3 trillion, credit line, as part of the government's steps to encourage companies to go ahead with M&As overseas.
Source: Nikkei |
| | U.S. banks begin charging monthly debit-card fees - 01.10.2011
Get ready for a new wave of bank fees. Bank of America will begin charging a $5 monthly fee at the beginning of next year for customers who make debit card purchases.
Source: CNNMoney |
