Corporate finance

JPMorgan Chase’s investment bankers posted their best quarter ever as a record first half in dealmaking bolstered the bottom line at the nation’s largest bank. But expenses climbed in the second quarter and loan growth remained out of reach.

Bankers insist borrowing will pick up on the back of a post-pandemic economic recovery. But so far there are few signs of a rebound, and analysts are skeptical one is imminent.

The company is looking to sell 20 million shares, with a 3 million underwriters' option, at between $16 and $18 per share.

William "BJ" Losch will become chief financial officer at the Wilmington, North Carolina-based small-business lender. The former CFO of Iberiabank will take over the vacated position at First Horizon on an interim basis.

Fed Vice Chairman for Supervision Randal Quarles says the benefits of a central bank digital currency are “unclear,” and that a digital dollar could actually “pose significant and concrete risks.”

Wall Street’s pandemic-era trading boom could be drawing to a close, with JPMorgan Chase CEO Jamie Dimon signaling a 38% decline in trading revenue from a year ago — a bigger drop than previously expected.

Following the sale of its U.S. retail banking unit to PNC Financial Services Group, the Spanish bank is turning its focus in this country to wholesale banking.

The move brings state-chartered banks and credit unions in sync with their federal counterparts by enabling them to open checking accounts for consumers who have had accounts closed for writing bad checks.

Bank of Montreal’s fiscal second-quarter earnings beat estimates as the waning COVID-19 crisis allowed the lender to set aside less for souring loans and gave a lift to the company’s personal and commercial banking businesses.

The industry reported a net release of reserves, helping to make up for a record-low net interest margin and the first year-over-year decline in loan balances in nearly a decade, the FDIC says in its latest Quarterly Banking Profile.

Business leaders in Atlanta and San Francisco warn that the digital divide will widen if Black-owned companies can't accept online and mobile payments.

The biggest U.S. banks criticized a pair of proposals designed to help consumers who don’t use their services.

Share buyback programs, shelved by many banks last year amid pressure from regulators to preserve capital, are back in vogue, with three dozen banks announcing such plans in April alone.

The company said it will increase access to affordable products, expand financial-education offerings and launch a National Unbanked Advisory Task Force.

The Federal Reserve Bank of Atlanta is enlisting banks, payment companies, retailers and universities to address problems that digital commerce creates for cash-reliant consumers.

The best-performing banks' revenue rose at nearly twice the rate of expenses thanks to mortgage refinancing and the Paycheck Protection Program.

The Pennsylvania company will offer commercial loans and treasury management services after hiring bankers in Dallas and Orlando.

Despite strong payment volume and revenue, Affirm's earnings suffered due to stock compensation and an adjustment on its purchase of PayBright in January.

The Mojaloop Foundation's Adama Diallo and Paul Hunter argue open, affordable real-time payments systems have the potential to include all and help turn underserved women into the newly served, enabling them to become economically active.

Now that Western Union has begun its deployment at the big-box retailer, where MoneyGram has long had a presence, the incumbent is watching for signs of pricing pressure.