Corporate finance

Revenue from sales and trading rose 7% to $3.06 billion in the fourth quarter, missing analysts' $3.15 billion forecast. The division, helmed by Jim DeMare, was hurt by unexpected weakness in fixed-income trading.

Goldman Sachs' dealmakers capped their record year with a fourth-quarter revenue jump that helped profit more than double.

Weeks away from succeeding Michael Corbat, Jane Fraser said she’d consider streamlining some units or divesting others as part of her effort to kick-start return on equity.

CEO Charlie Scharf’s long-awaited expense-reduction plan got a chilly reception from investors.

Federal relief efforts have minimized loan losses so far, but risks remain in credit card, auto and business lending. Many borrowers will need another lifeline to stay afloat until the economy rebounds, CEO Jamie Dimon says.

However, it beat analysts' estimates thanks to a big reserve release, a smaller-than-expected rise in expenses and other factors.

In placing the $6.6 million-asset institution in conservatorship, the regulator has taken charge of two credit unions in just the first two weeks of the year.

Fourth-quarter results were hurt by restructuring and customer-remediation charges, but the release of credit-loss reserves and the sale of a student-lending business gave an unexpected boost to net income.

Strong trading and investment banking fees also contributed to a 42% increase in profit to $12.1 billion in the fourth quarter.

Smaller financial institutions and fintechs need to work together to continue closing the unbanked gap through expanded digital banking capabilities.

Robert Kafafian says he's hearing more MOE chatter now than at any time in his decades-long career as a consultant. He cited smaller banks' need to cut costs, improve tech offerings and compete with bigger lenders.

The nation's third-largest credit union saw a huge lending spike in 2020, especially in its mortgage division, while membership grew by 159%, thanks in part to merger activity.

After three years of savings, top U.S. banks could face an increased tax bill of as much as $11 billion a year if President-elect Joe Biden moves forward with corporate rate hikes he campaigned on.

The company, which reported a large third-quarter loss in October, plans to sell or shutter a quarter of its locations.

CO Federal Credit Union, which has $4.5 million in assets and serves just 785 members, was conserved due to unsafe and unsound practices, the regulator said.

The New Canaan, Conn., company said it will record a pretax expense of $3.9 million in the fourth quarter related to branch and office closings, severance payments and the end of a vendor contract.

Provisions implemented under the CARES Act that made it easier for institutions to utilize NCUA's Central Liquidity Facility have been extended for a year with the signing of Consolidated Appropriations Act.

One engineered a big M&A deal, another struggled with his bank's credit issues and another abruptly resigned. Here are their stories and more.

A new report from the National Credit Union Administration showed institutions in many states are struggling with a deluge of deposits while their lending opportunities are drying up.

Noninterest income has bolstered profits this year. But its growth is expected to slow over the next two years, making for a gloomy earnings outlook unless vaccine distributions and the economic recovery are relatively swift.