Ameriprise Financial Inc., an asset management company spun off from American Express in 2005, said fourth-quarter net income increased 54% from a year earlier, to $171 million, or 69 cents a share.
The results, which Minneapolis company reported last week, fell 15 cents short of the average estimate of analysts, according to Thomson Financial.
Adjusted earnings rose 30.1%, to $251 million, or $1.02 a share. Ameriprise's fourth-quarter revenue increased 16%, to $2.2 billion.
The cryptocurrency company has collaborated with payment tech firm Nium to enable conversions to traditional currency, a play to boost use of the digital assets for payments and diversify Coinbase's revenue sources.
Fintech firm IntraFi's most recent quarterly survey of bank executives showed rising pessimism among bankers related to "instability in Washington," as well as growing concerns about technology-enabled fraud.
The Consumer Financial Protection Bureau is poised to finalize a contentious rule mandating the collection of demographic data on small-business borrowers, with the aim of ensuring equal access to credit for women and minority owners.
Bankruptcy filings rose 11.9% during the past 12 months, according to statistics from the Administrative Office of the U.S. Courts; JPMorganChase named Jerry Lee and Nick Richitt as global co-heads of health care investment banking; Goldman Sachs appointed Akila Raman as global head of its private and alternatives capital markets business; and more in this week's banking news roundup.
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