Morgan earnings for 2009 quarter reported out of the oven does not ignite the market's enthusiasm for the United States banking, in the United States after the local time on 19 January published United States banking second quarter report 2009, Citigroup last year's fourth quarter results is to get the entire industry Pocket head a bowl of cold water. Although, recently published by Goldman Sachs and Morgan Stanley's 2009 fourth quarter profit status appears almost certainly, however, the entire United States banking credit has become now a shadow "strong".
This year or reduction
United States local time on 19 January, Citigroup announced that the group in 2009, the fourth quarter net loss of 76 million, equivalent to 33 cents loss per share, which is higher than the previous market generally expected 27 cents loss per share. At this point, the entire 2009 Citigroup recorded a total of 16 billion dollars in losses, equivalent to 80 cents loss per share. This is also following the Citi 277 billion in 2008, the losses for the second consecutive year as a whole reported losses.
Citigroup said that the group in the fourth quarter of last year revenues 179 million, clearly Citi Fourth quarter last year returned to the United States Government can't wait 200 billion of assistance funds directly caused when the quarter results show a net loss. However compared to 2008, Citigroup's revenues are constantly improved. Citigroup CEO Pan di (VikramPandit) said: "Citigroup in 2009 has made great progress. ”
Next, the United States Bank, Goldman Sachs, Morgan Stanley, Wells Fargo will continue this week released the fourth quarter last year. According to a Bloomberg survey data show that it is expected that Goldman Sachs Group last year's fourth quarter net profit of $ 32, $ 5.24; Morgan Stanley 6.47 billion net profit, earnings per share $ 0.43.
"Wall Street banks last year's fourth quarter results should generally with current market forecast far-fetched. "A banking analysts told reporters that" However, while most of Wall Street banks up profitability is in the up State but ring appears narrower than the profit. It is expected that the 2010 Wall Street banks of profitability will become increasingly difficult. ”
The analyst then pointed out: "2009 global trading activities with strong recovery is Goldman Sachs, Morgan Stanley, JP Morgan Chase Bank the main source of profit, yet the 2010 global trading activities are not as active as last year, this will inevitably lead to reduced income of these banks. ”
Credit crisis big
However, for Wall Street's major banks, in 2010, the greatest threat comes from being constantly high credit losses. Last week the first announced last quarter of the overall profit Morgan despite 33 billion, but the company in the fourth quarter of last year there was a huge credit losses, including mortgages, housing rights and other consumer loan loss provision of $ 42 billion in total, this amount is significantly higher than the same period of 2008 to $ 6.53 million.
However, as Citigroup in the United States, Asia and Latin America credit conditions have improved, the group in the fourth quarter of last year the total credit loss provision down to 82 million, an increase of 36%, Central decline than the decline of 10%. And when a quarter of the amount of the credit business NET from the previous quarter decreased to 79 billion US $ 71. Citigroup CFO John · gospa odd (JohnGerspach) said: "Although the company still cautious, and will continue to monitor the impact of the current deficit, but we expect the credit situation will stabilize or improve, particularly in Asia and Latin America. ”
"I'm afraid the prospect is not so optimistic. "The above banking analysts who said," the United States, the unemployment rate is expected to remain at high overall maintenance of 2010, are less likely to be substantially improved. Credit card loan default rates, consumer loan default rates, mortgage loan default rate for the next few months will continue at a high level, the Bank's losses in pressure is not small. And like a United States Bank, Citibank, such commercial risk in this regard than to investment banking-Goldman Sachs Group, etc. ”
John · gospa odd also said that the United States banking credit crisis continues. While JP Morgan also warned that the mortgage loans and business loan losses continue to increase, I do not know when to stop the increase in bad debt provision.
United States economic recovery for the slow, uncertain of the policy, the sophistication of the profit from the environment, the Government enhanced ... A series of factors will make the 2010 environment than just past 2009 year is much more difficult. For Wall Street's major banks, the same and is not optimistic.
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