This quarter's results will be the first to reflect the impact of Russia's invasion of Ukraine, as well as a sharp jump in both interest rates and fuel prices. Read More...
Reuters
U.S. bank earnings to decline in first quarter
Big U.S. banks are expected to show a sharp decline in first quarter earnings from a year ago, when they benefited from exceptionally strong dealmaking and trading, and funds set aside for loan losses being released. Net income for the six biggest U.S. banks will be down about 35% from a year earlier, according to analyst estimates from Refinitiv I/B/E/S. Investment banking revenues stalled after the Russian invasion of Ukraine in late February. The quarter will be challenging for the biggest banks, according to analyst Christopher McGratty of Keefe, Bruyette & Woods.
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