The results of the top five US banks listed in Wall Street showed a significant rise, and all were better than expectations.
According to Arab Net, Fitch said bank profits had benefited from strong trading and investment revenues and consulting fees, and benefited from acquisition and integration deals, including SPAC deals.
It was also pointed out that banks also benefited from the reversal of previously supported allocations with less than expected because of government financial support. Reported that credit growth will remain negative amid poor demand from individuals and companies.
The first quarter gains for Citigroup doubled 3 times to $ 7.9 billion, and the provisions of $ 3.9 billion dollars are contrary to the bank for troubled debt.
The bank was exempted from bank-oriented personnel at 11 markets from China, India, Australia and Bahrain.
GB Morgan, profits of 400% to $ 14 billion in the first quarter to exceed expectations. Wide profits with the support of trading activities and increase bank investment fees next to the opposite of allocations worth $ 5.2 billion.
Goldman Sachs profits grew by 500% to $ 6.7 billion to exceed expectations, reversing $ 70 million in the first quarter of 2021.
The Bank of America has grown 48% to 8.1 billion dollars in the first quarter and reversed allocations to face the worst scenarios of the Corona crisis worth $ 2.7 billion.
Earpo, its profits multiplied by more than 8 times to $ 4.7 billion in the first quarter, with credit losses lower $ 5.1 billion.
