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By Nichola Saminather TORONTO (Reuters) – Canadian banks are set to report higher first-quarter earnings from a year ago, thanks to low provisions for credit losses and improving loan demand, but rising costs are a focus area for investors. Analysts expect Canada’s Big Six banks – Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova …

Canadian banks set for 1st-qtr profit growth, but costs, margins could deal blow Read More »

BEIJING (Reuters) – China will from March 1 expand nationwide a pilot scheme developing commercial pension products for the country’s aging population, its banking and insurance regulator said on Monday. Other than six insurers including state-owned PICC Life Insurance, the China Banking and Insurance Regulatory Commission will also allow other pension firms to participate in …

China to expand commercial pension pilot scheme nationwide, regulator says Read More »

(Reuters) – South African insurer Discovery forecast on Friday a higher half-yearly profit, supported by new clients at its health insurance business and adequate provisions to cushion the impact of coronavirus-related claims. The company said its headline earnings, the main profit measure in South Africa, were expected to have grown 70%-80% in the six months …

S.Africa’s Discovery forecasts jump in half-yearly profit Read More »

By Matt Scuffham NEW YORK (Reuters) -Goldman Sachs on Thursday upgraded its key profitability targets and set new goals for its asset management, transaction banking and consumer businesses as it laid out its strategy for the next three years. Wall Street’s premier investment bank is reshaping itself after a turbulent decade during which profit at …

Goldman Sachs lifts targets in bid to win over skeptics Read More »

NEW YORK (Reuters) – Bank of America Chief Executive Officer Brian Moynihan said the bank’s capital markets business “is down” so far in 2022, even as the investment bank continues to see a strong pipeline of customer activity. Speaking at a banking conference, Moynihan also said consumer spending on childcare is again at pre-pandemic levels, …

Bank of America CEO: capital markets business down, but pipelines are full Read More »

(Reuters) -Wells Fargo & Co on Thursday said the bank’s ultimate goal to reach a 15% return on tangible equity may be more achievable as rates grow, even if a $1.95 trillion asset cap which has hindered its growth since 2018 remains in place. The fourth-largest U.S. bank has been in regulators’ penalty box since …

Wells Fargo can reach 15% ROTE goal as rates rise- CFO Read More »