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Click on individual bank names in the table below to access American Banker's coverage of each company's earnings report. Links to relevant coverage, filings, releases, and bank benchmark profile data can be found in the Related Links area of each article.
April 26
BlackRock Inc. said Monday that its profit quintupled in the first quarter, its first full period of earnings since buying Barclays Global Investors for $13.5 billion.
BlackRock reported a profit of $423 million, or $2.17 per share, up from $84 million, or 62 cents per share, a year earlier. Excluding certain items, earnings rose to $2.40 from 81 cents. Revenue more than doubled, to $2 billion.
BlackRock has "experienced some significant merger-related outflows in the quarter," Laurence D. Fink, its chairman and chief executive, said in a press release. He said that "dissynergies" are running below expectations and new business flows remained strong.
As a result of the acquisition, assets under management increased 158.5%, to $3.36 trillion from a year earlier.
BlackRock reported a strong first quarter from fixed-income index funds, which attracted $13.6 billion of net new assets. That included $7.1 billion from Barclays' iShares funds, the company's exchange-traded fund business, which was the crown jewel of the acquisition.
