The Data Of U.s. Banks Do Not Convince The Stock Market

By Author: Italo Zanotti
Total Articles: 62
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For the full 2009, Bank of America has reported a net profit of 6.3 billion dollars. Provisions for losses on loans in the fourth quarter amounted to 10.1 billion dollars, down from 12.8 billion the previous quarter. The institute has also said that economic conditions remain fragile and that provides that unemployment will remain high. Last December, Bank of America has returned the $ 45 billion received in the context of the aid plan of the government's Troubled Asset Relief Program (TARP). Also in the fourth quarter, the institute has recorded a revenue growth of 59% to 25.4 billion following the acquisition of Merrill Lynch, a figure lower than the estimate of 26.9 billion made by analysts. In the area of credit cards, the bank has recorded losses of one billion, the same number as the previous quarter. In the area of mortgages and insurance companies reported a deficit of 993 million against the previous red by 1.6 billion. The new AD Brian T. Moynihan pointed out that "the bank is encouraged by signs of economic improvement" and that is having "a stabilization of losses on credit, particularly in the consumer sector." ...
... The Tier 1 capital ratio rose to 7.8% from 4.8% the year before.
Wells Fargo, for its part, recorded in fourth quarter net income of 2.82 billion U.S. dollars (8 cents per share) compared to a loss of 2.55 billion (79 cents) in the same period of 2008. The result of the U.S. bank is better than the average estimate of analysts predicted earnings per share of one cent.
Morgan Stanley ended last quarter with a profit of $ 413 million excluding extraordinary transactions. The result is much higher than the 10.5 billion loss for the fourth quarter of 2008, but is lower than expected. The turnover of Morgan Stanley, which is first in the world between the brokerage firm, fell to 6.84 billion dollars from 8.43 billion in the third quarter. The entire sum spent in 2009 for wages and company benefits rose by 31% to 14.4 billion, up 62% of net sales was the highest since when Morgan Stanley merged with Dean Witter in 1997.
U.S. Bancorp, the U.S. bank in Minneapolis, which has managed to expand its activities during the financial crisis, has closed its fourth quarter net income jumped 82% to 602 million dollars. The Bloomberg writes, that the profit of 30 cents per share, slightly above forecasts of analysts, who expected 29 cents. State Street, another American bank, closed the same quarter with profits of 99 cents per share, in line with forecasts.
Bank of New York Mellon closed the fourth quarter with net income up to 593 million dollars from 28 million the same period in 2008. Excluding certain items, earnings per share amounted to 59 Cento.