Pre-tax profits fell less than analysts expected to £1.74 billion in the quarter. Lloyds Banking Group posted pre-tax profit that beat estimates in the second quarter, as an improved economic outlook allowed the lender to whittle down the amount of...
Mashreq has posted a first-half (H1) net profit of AED4 billion ($1.09 billion), a significant 14% increase year-on-year (YoY), driven largely by a 17% YoY increase in net interest income. The bank's non-interest income rose to AED1.9 billion, demonstrating a...
Italy's UniCredit has entered into a binding agreement to acquire the entire share capital of European Banking-as-a-Service platform Vodeno and Belgian digital bank Aion. Together, Aion/Vodeno offer a suite of embedded banking products based on Aion’s ECB licence that enables...
Emirate added $31.3bn to its GDP during the period, with transport and financial sectors expanding. Dubai’s economy grew by 3.2 per cent annually in the first quarter of 2024, with Dh115 billion ($31.3 billion) added to the emirate’s gross domestic...
The non-oil sector in Kuwait witnessed solid growth in the first quarter with the non-oil GDP bouncing back with a strong 4.7% year-on-year increase after a 2.3% fall in the previous quarter, according to a report by National Bank...
JPMorgan Chase & Co announced record-breaking Q2 earnings, driven by exceptional performance from its investment banking and equities trading divisions. The bank reported a net income of $18.1 billion. Excluding significant items, net income stood at $13.1 billion. Revenue for the...
Geopolitical tensions have overtaken inflation as the top concern for sovereign investors, according to a study. This shift is driving investors to diversify their portfolios, looking towards emerging markets and “safe haven” assets. The study by asset manager Invesco has...
Morgan Stanley’s second-quarter profit beat expectations, driven by a surge in investment banking and trading revenues that overcame muted results in wealth management. The bank joined other Wall Street lenders, including Bank of America and JPMorgan, in reporting higher investment...
Net income climbed to US$3.2 billion, in the three months ended June 30. Citi’s profit rose in the second quarter, boosted by a 60 per cent jump in investment banking revenue and gains in its services division, sending the bank’s...
The company's revenue for the quarter also exceeded expectations, coming in at $25.4 billion against the consensus estimate of $25.24 billion. Despite the positive results, net income fell to $6.9 billion from $7.4 billion in the same quarter last year,...
