Buffett's Berkshire boosts its stake in Bank of America to 11.8%

(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Thursday it has bought another $522 million of stock in Bank of America Corp (BAC.N), boosting its already large stake in the second-largest U.S. bank by assets. Berkshire bought about 21.2 million Bank of America shares from July 28 to 30, according to a regulatory filing. Following those purchases, Berkshire […]

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Breakingviews – Deutsche Bank’s shock absorbers get vital padding

LONDON (Reuters Breakingviews) – Deutsche Bank investors can strike off at least one of the risks facing the 18 billion euro lender: a dicey mid-pandemic cash call. The group’s 13.3% common equity Tier 1 (CET1) capital ratio, unveiled in an impromptu investor update on Tuesday, means Chief Executive Christian Sewing has bigger buffers to withstand a coronavirus-induced surge in bad […]

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These 5 banks offer the most sought-after mobile features in the US

This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. This report is exclusively available to enterprise subscribers. To learn more about getting access to this report, email Senior Account Executive Haydn Melia at [email protected], or inquire about our enterprise memberships. Citibank, USAA, BBVA USA, Bank of America, and NFCU lead the US […]

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7 Bank Stock Dividends That Still Look Safe Heading Into 2021

When the Federal Reserve last week published the results of its latest stress tests on 34 U.S. financial institutions, the central bank also imposed some conditions on the banks to ensure that they are sufficiently capitalized to weather the economic downturn caused by the COVID-19 outbreak. Specifically, for the third quarter (and perhaps longer), the Fed suspended share buybacks and […]

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Scotiabank, National Bank of Canada beat estimates even as loan-loss provisions erode profits

(Reuters) – Bank of Nova Scotia and National Bank of Canada reported better-than-expected second-quarter results on Tuesday despite large profit declines driven by spikes in loan-loss provisions due to the COVID-19 pandemic. Canadian banks are bracing for higher loan losses this year and next due to the pandemic-driven recession. While loan deferrals and government aid have helped contain some short-term […]

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Jersey jackpot of $2 million awaits Deutsche's lost shareholders

FRANKFURT (Reuters) – While Deutsche Bank (DBKGn.DE) employees fret about their jobs and pay, Germany’s largest lender is trying to track down several hundred former staff to claim share payouts it has been holding in Jersey. The loss-making bank began transferring the assets, which are now worth a total of around $2 million, to a government body on the island […]

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Deutsche Bank Sees Q1 Results Above Market View

Deutsche Bank AG (DB) said that it expects to report first-quarter group profit before tax of 206 million euros and net income of 66 million euros, above market expectations. German banking major projects quarterly revenues to be 6.4 billion euros, and provisions for credit losses a of 500 million euros. The bank said its Common Equity Tier 1 or CET1 […]

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Bank of America joins rivals with $3.6B buffer from coronavirus loan defaults

Deferring mortgage, rental payments ‘buys us a housing crisis’: National Housing Conference CEO National Housing Conference CEO David Dworkin discusses Americans skipping mortgage and rental payments and projects the future of housing post-coronavirus. Bank of America joined rivals JPMorgan Chase and Wells Fargo in strengthening its buffer against coronavirus-related costs, setting aside an additional $3.6 billion to cover delinquent loans. […]

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