Grupo Scotiabank today announced solid results for the third quarter of 2007 driven by continued asset and deposit growth, improved margins, increased non-interest revenues and well controlled expenses. Scotiabank Mexico’s third quarter consolidated net income was $132 million, or $1,391 million Mexican pesos.Bank of Nova Scotia says these results are adjusted to a Canadian GAAP […]
Substantial losses and writedowns in trading positions were related to the U.S. subprime fiasco this past summer
Net earnings rise 37.4% year-over-year
Swiss banking giant UBS AG confirms that its third quarter pre-tax loss will be in the range of 600 million to 800 million Swiss francs (US$515.9 million to US$687.9 million), as it announced earlier this month.The move comes after Merrill Lynch reported a much bigger hit from the credit crunch than it had previously announced. […]
Strong Canadian economy drives growth
Revenues jump 62%
US$7.9 billion in write-downs
Q3 earnings estimates down 3% so far
J.P. Morgan Chase & Co. today reported a modest rise in its third-quarter net income, despite the market turmoil.The firm said that third quarter profits were US$3.4 billion, up from US$3.3 billion in the third quarter of 2006. Although, its investment bank’s net income was just US$296 million, down by US$680 million, or 70%, compared […]
Drop driven by lower revenues in fixed income and higher consumer credit costs