Markets

Bank of America’s 4th-quarter profit beats expectations, but revenue drops 10% as low interest rates hurt its consumer banking division

Bank of America posted fourth-quarter profits of $US5.5 billion, beating analyst expectations. Revenue dropped 10% to $US20.1 billion, hurt by low interest rates and declining credit card activity. The bank’s shares rose 1% in pre-market trading after its $US2.9 billion stock buyback announcement. Visit Business Insider’s homepage for more stories. […]
Bank of America’s 4th-quarter profit beats expectations, but revenue drops 10% as low interest rates hurt its consumer banking division
Markets

Westpac’s full year profit is flat at $8 billion

Westpac’s full year statutory net profit $8.095 billion, up 1%. Cash earnings $8.065 billion, little changed. Unchanged, final, fully franked dividend of 94 cents a share. Westpac announced a full year profit of $8.06 billion, flat on last year, on the back of higher costs relating to customer refunds during […]
Westpac’s full year profit is flat at $8 billion
Markets

NAB profit tanks

NAB full year cash earnings of $5.7 billion, down 14.2%. Net interest margin flat at 1.85%. Restructuring cost of $755 million and customer remediation of $360 million. The NAB’s full year cash earnings fell 14.2% to $5.7 billion, dragged down by more than $1 billion in combined restructuring costs and […]
NAB profit tanks