The old adage, "As goes GM, so goes the nation," can apply to Wells Fargo, which released earnings Friday, Raymond James analyst Anthony Polini tells CNBC.» Read More
The banking industry faces an uncertain regulatory environment in 2013 as Dodd-Frank rules continue to be written but big bank stocks could continue to perform well even after a strong 2012, BankUnited CEO John Kanas told CNBC on Thursday.
David Marshall, Senior Analyst, Asia-Pacific Financials, CreditSights says that Europe's outlook remains sanguine with hopes pinned on more refinancing, but the environment for bank profitability is shrouded in doubts.
David Marshall, Senior Analyst, Asia-Pacific Financials, CreditSights is positive that Chinese banks can maintain their earnings in 2013, but risks remain with shadow banking and transparency issues.
Knight Capital Group said it will be acquired by rival electronic trading firm Getco Holdings in a cash-and-stock deal that the companies valued at $1.4 billion.
The scale of Libor manipulation at Swiss bank UBS was laid bare today in documents published by U.K. authorities which showed one trader openly boasting of keeping the benchmark rate artificially low.
Big bank stocks are poised to post double-digit gains, analyst Meredith Whitney told CNBC.
Jefferies Group said fourth quarter earnings rose on strong performance in its fixed income unit.
One of the key destinations for financial jobs, Singapore is fast losing its lure as bank layoffs threaten the once robust job market in this Southeast Asian city state.
The financial industry should not go “overboard” in cutting costs in reaction to current market conditions, the chief executive of Goldman Sachs has warned, a day before the bank is poised to announce one of its smallest ever groups of new partners. The FT reports.
In theory, banks are supposed to be overflowing with tellers, ATMs and loan officers. In reality, they are increasingly focused on servicing legal claims.
Banks once offered simple checking and savings accounts. Now they offer brokerage accounts and other financial products. How do you know what's FDIC-insured?
Thailand’s rising banking shares could jump a further 30 percent over the next 12 months as profitability soars on strong investment and corporate lending growth, according to Japanese brokerage Nomura.
"I think it is very encouraging that the banks are still posting profits because it means that the book values will go up, that the equity base is building up and most of the banks are not priced for them to make profits, so I think we are looking for a positive earnings round in this respect," Dirk Becker is head of banking sector research at Kepler Capital Markets, told CNBC.
An international response is needed to the issue of the manipulation of the Libor to ensure that cartel behavior is not possible, Sharon Bowles, Liberal Democrat MEP for South East England and chair of the European Parliament's Economic and Monetary Affairs Committee, told CNBC on Friday.
The Financial Services Authority's agreement with banks that they will pay compensation for mis-selling interest rate hedging products is not a guarantee that more regulation for banks isn't on the way, Martin Wheatley, head of financial conduct at the FSA, told CNBC.
Authorities in the U.S. and Europe need to get involved together with the UK authorities to make sure rigging of interest rates by banks cannot happen again, Sharon Bowles, Liberal Democrat MEP for South East England and chair of the European Parliament's Economic and Monetary Affairs Committee told CNBC.
The UK is unlikely to join a banking union as the one proposed for banks in the euro zone, Jean-Claude Juncker, president of the Eurogroup group of finance ministers in the euro zone, told CNBC.
Criminal sanctions can be applied in the U.S. for manipulating Libor but not in the UK and the UK government is looking into changing that, Mark Hoban, UK Financial Secretary, told CNBC.
The absence of an Asian name in the list of financial institutions, which saw their credit ratings cut by Moody’s on Thursday, highlights the strength of the region’s banking sector, says one analyst.
"The concern of course is that we continue to see deposits leaking. We could see more deposits leaving¿ in the worst case next week," David Owen, chief European economist, Jefferies International, told CNBC.