ST. PAUL, Minn. - (10/31/05) -- Deluxe Corp. reported last week thata continued slowdown in its core check printing operations hurtthird quarter earnings, with net income plunging by 57% to $37million, or 73 cents a share, compared to the same period lastyear. Third quarter revenues, hurt by continued price pressures onthe company's checking operations and the loss of a major financialinstitution client, declined by 12% to $413 million. Financialservices revenues fell 28%, to $126 million, as check usagecontinued to decline. Revenue form the company's new business formsoperations were flat at $227 million for the quarter. For the firstthree quarters Deluxe reported a 17% rise in revenues to $1.28billion, while net income fell 14% to $119 million, or $2.33 ashare.
-
Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
9h ago -
The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
10h ago -
Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
10h ago -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
11h ago -
Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
11h ago -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28