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Photo by Simon Dawson (Reuters / Scanpix)
Barclays’ profits fell 42% year-over-year in the first quarter. Standard Chartered’s profits fell 12%, the bank sees a positive outlook for China.
Barclays’ net income attributable to shareholders was $ 1.04 billion for the year. GBP up to GBP 605 million GBP (€ 695 million).
Volatility in the financial markets will have a positive effect on the bank’s securities trading division, whose income increased by 77%, but the overall result was mainly affected by the provision for bad loans, which amounted to 2.12 billion LTL in the first trimester. GBP (2.43 trillion euros), with the bank anticipating customer difficulties in meeting its obligations.
The effects of COVID19 occurred at the end of a good quarter. Profit before tax amounted to 0.9 billion. GBP and credit losses amounted to 3 billion. GBP. We will earn 2.1 billion. The GBP credit loss, reflecting our initial assessment of the impact of the COVID19 pandemic, is cited in the report by James Staley, CEO of Barclcays.
As a result, the bank’s shares will rise in price by just over 5% on Wednesday.
Standar Chartered net income attributable to shareholders in the first quarter, year-over-year, increased 12% to $ 810 million. USD (745 million euros).
The profit for the year was 956 million. Credit losses in USD, when, in comparison, for the year, its amount was 78 million. USD, motivated by the effects of the pandemic.
However, Standard Chartered, active in emerging markets, is responding positively to economic prospects that are leading the world to a pandemic.
The great sources of profit for us are in North Asia, and these markets obviously became the first. If they can get in quickly, that’s incredibly good news for our group, Andy Halford, CFO of Standard Chartered, told CNBC on Wednesday.
In the presentation of the results, the bank will see the first momentum investors in China due to the economic recovery.
The bank’s tone is highlighted these days with the announcement of the results by other large European banks, which calculated higher provisions for the pandemic.
Standard Chartered shares raised the price by approximately 3% after the announcement of the results on Wednesday.
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