South African bank Absa said on Friday its loan losses were expected to have risen above its target range in the first half of this year as consumers felt the burden of higher interest rates.
Some of the largest U.S. banks got a profit boost from higher interest rates and pointed to early signs of recovery in investment banking but warned that the economy was slowing and losses would increase in commercial real estate.
State Street Corp on Friday beat profit estimates for the second quarter as the bank's interest income benefited from the U.S. Federal Reserve's policy tightening and assets under management rose amid a recovery in the equity markets.
Citigroup beat analysts' estimates for second-quarter profit on Friday as higher interest payments from borrowers partly countered a blow to its Wall Street businesses from a slump in trading.
JPMorgan Chase reported a bigger-than-expected jump in second-quarter profit as it earned more from borrowers' interest payments and benefited from the purchase of First Republic Bank.
Wells Fargo raised its annual forecast for net interest income (NII) after its profit surged 57% in the second quarter, sending shares up 4% in premarket trading.
BlackRock Inc on Friday beat second-quarter profit estimates, as investors continued to pour money into its various funds on the back of a rally in markets after a bruising start to the year.
The Bank of Japan is caught in a dilemma with growing prospects of sustained inflation heightening the case for an early tweak to its yield control policy, despite Governor Kazuo Ueda's reassurances he would "patiently" maintain massive stimulus.
The Mexican government is no longer interested in purchasing Citigroup's local retail arm, known as Banamex, a government spokesperson said on Thursday, adding that the U.S. bank "chose a different path" for its unit.
