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Bank Earnings:Historical Results/2023 Q1: Difference between revisions
Bank Earnings:Historical Results/2023 Q1 (view source)
Revision as of 15:12, 19 April 2023
, 19 April 2023→Summary of Main insights
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== Summary | == Summary == | ||
The six major US banks toppped revenue estimates provided by analysts. Similarly, all of them except Goldman Sachs saw their earnings come above analysts estimates. This indicates that the health of the banking sector is still strong. However, the banks saw their average consumer debt write offs rise by 72% year-on-year to $3.97 billion. Also, their average provisions for credit losses rose by 280% year-on-year to around $6.8 billion. But the banks heads were adamant to point out that a credit crisis is on the offing. | The six major US banks toppped revenue estimates provided by analysts. Similarly, all of them except Goldman Sachs saw their earnings come above analysts estimates. This indicates that the health of the banking sector is still strong. However, the banks saw their average consumer debt write offs rise by 72% year-on-year to $3.97 billion. Also, their average provisions for credit losses rose by 280% year-on-year to around $6.8 billion. But the banks heads were adamant to point out that a credit crisis is on the offing. | ||