Bank of America reported Thursday (July 16) that that the number of customers using the firm’s mobile and digital platforms grew during the second quarter even as the pandemic raged. However, the bank nonetheless built up an extra $4 billion in reserves during the period...
Goldman Sachs reported on Wednesday (July 15) that consumer deposits grew by a record $20 billion to $92 billion during the second quarter as the bank continued to expand its digital consumer platforms. Get the Full Story Complete the form to unlock this article and...
Big banks kicked off the second-quarter earnings season Tuesday (July 14) by reporting COVID-weakened consumer banking revenues, but bright spots in trading and digital. While JPMorgan Chase and Citi managed to come out ahead of analyst estimates, Wells Fargo posted a top-line miss and a...
J.P. Morgan Chase – America’s biggest bank in asset terms – on Tuesday (July 14) became one of the first financial firms to show how big of a bite COVID-19 took out of its second-quarter top and bottom lines. The effects were notable and profound. All...
A surge in fixed-income trading revenue amid a roller coaster ride on Wall Street helped Citi turn a profit during a turbulent second quarter, despite credit losses and weakness in its consumer banking unit. Get the Full Story Complete the form to unlock this article...
Wells Fargo reported Tuesday (July 14) that its teller and ATM transactions plunged 28 percent in the second quarter amid COVID-related temporary branch closures and the continued transition to digital. The financial institution also announced plans to slash its third-quarter dividend to 10 cents a...
As retailers shuttered their physical stores during the coronavirus pandemic and eCommerce adoption accelerated, FedEx Corporation’s commercial business-to-business (B2B) volume fell in the U.S as its residential and business-to-consumer (B2C) volume rocketed. However, the logistics company indicated that it was looking to fuel B2B growth via...
Carnival Corp. posted a $4.4 billion loss in the second quarter as the cruise industry was docked due to COVD-19, the company reported Thursday (June 18). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
All but 5 percent of McDonald’s restaurants are open, but that has done little to improve sales. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our...
