Last weekend, JP Morgan, Goldman Sachs, Citigroup, American silver + United States financial services industry giants to release third quarter results, the results will be mixed, the Bank reports have shown that consumers in the credit card and mortgage loan repayment of the credit loss of pressure.
Local time, October 16, the United States Bank announces third quarter results show that the row from the second quarter profit 32.2 billion into third-quarter net loss of $ 1 billion.
United States Bank is the largest commercial banks in the United States. In just the past third quarter, the United States Bank has lent a total of 100 billion u.s. dollars of loans, than the second quarter increased to $ 1 billion, while United States Bank also added 21 billion reserve to address the problem of bad debts. However, since customer defaulting loans still widespread, their credit losses were as high as $ 117 billion.
Credit business detractors
From Goldman Sachs and JP Morgan's fiscal report, the two banks of the profit model similar to fixed-income sectors and investment banking sector is still the largest revenue sources. Goldman's third-quarter results show, fixed income, currencies and commodities sector best, net profit of $ 59.9; securities business, net profit of $ 27.8. Similarly, Morgan's third quarter net profit of investment banking, transaction billion profit upgrade fixed income markets revenues to $ 5 billion.
"This growth model is expected to remain in the future to maintain at least a year, as the market for global economic recovery is expected to strengthen, as well as the growing rise in global stock markets, leading to other economic spheres of financial transaction will rise first. While and real economy more closely related to the credit business growth is relatively slow, at the same time as the unemployment rate lag, even during the economic recovery, high unemployment is difficult in a short time to be improved, whether it be credit or personal loan, will be the last couple of years the Bank's losses. "Shanghai University of finance and Deputy Director of the modern financial research center. XI Jun sheep
"The United States consumer credit is still affect us the number one problem in the near future performance. "Citigroup Chief Executive Officer (CEO) Pan di said. As of September, national city has the credit losses of $ 8 billion, mainly from the consumer business. United States Bank CEO Ken Lewis was equally nice · said: "obviously, the cost of credit is still located in high positions, and this remains our main financial challenges. ”
Morgan third-quarter rise in credit card credit card skimming is only 1% in the second quarter increased by 25% has dropped significantly. But Morgan CEO Jamie Dimon expects consumers · loan and credit card loans and other credit cost in the coming period will be maintained at a high level. And along with the deterioration of employment issues, traditional mortgage loans, and credit card loan default rate will continue to rise.
Investment banking-gap
While JP Morgan, Goldman Sachs and American silver, Citigroup faces the same challenges, and Citibank and the IDB has also been in the second quarter and achieved good results, but with the third quarter of the fiscal report, these gaps in between banks gradually expanded.
According to Goldman Sachs Group results show that third-quarter net profit of $ 31.9, their second-quarter net profit of us $ 34.4 equaled. The previous day, Morgan announced third-quarter profit of $ 36. And Citigroup's results show that the Group during the third quarter of this year compared with the same period last year achieved a profit, but only profit 1.01 billion, compared to second quarter earnings far 42.8 billion.
"In fact, from the first quarter of this year, Wall Street banks ' performance is gradually revealed differences, and this difference is still widening. "A foreign rows one industry analyst said.
"From the fourth quarter of this year in the first half of next year, the threat of Wall Street banks of Max factor is the credit loss situation, if the deterioration of the credit business, will undoubtedly greater offset investment banking revenues brought about by. "The industry analysts noted that" at present, the investment banking is Wall Street banks the most important earnings sources, Goldman Sachs, JP Morgan, etc in the investment banking than Citigroup, American silver more advantages. At the same time, it is foreseeable that in the coming period, no significant improvement in the credit business, investment banking revenues will undoubtedly great JP Morgan, Goldman Sachs and American silver, Citigroup. ”
Overall performance is still optimistic
Goldman Sachs CEO Lloyd Blankfein · said: "while the world still face serious economic challenges, but we see that the situation is improving, and a stabilised or even signs of growth. "Citigroup CEO Pan di, points out:" our customer deposits in the third quarter increased $ 28 billion, investment banking and global trading business net income are set to high. ”
XI Jun sheep pointed out: "overall, the United States Wall Street all major banks in the performance of this year compared to last year, there will be significantly enhanced. Although the United States banking industry still faces serious credit losses, but overall, the overall performance of the major banks and macro-economic related, and the United States economic recovery although may slow, but is unlikely to occur again. Therefore in the General environment gradually improved, no doubt will further improve the banking sector. ”
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