U.S. banks benefited from higher interest rates in the second-quarter, driving a rally in major indexes, but lower consumer spending, slower loan growth and the increased costs of retaining deposits cloud the outlook for the sector.
American Express kept its forecast for full-year profit unchanged on Friday, disappointing investors and overshadowing its quarterly results that topped estimates on record card member spending by its young and affluent customers.
Huntington Bancshares beat Wall Street estimates for second-quarter profit on Friday, as it earned more from rising interest rates and saw strong demand for its commercial loans.
JPMorgan will expand its online bank Chase to Germany and other European Union countries, CEO Jamie Dimon told German newspaper Handelsblatt, a move that increases competition for European rivals in a crowded market.
Japan's top financial diplomat on Friday suggested the central bank may tweak its approach to monetary stimulus at its next policy meeting, due to "signs of changes" in corporate behaviour on wage growth and price rises.
China's National Financial Regulatory Administration (NFRA) on Friday issued a draft on easing rules on foreign investment in asset management businesses as part of efforts to attract overseas investors.
The European Union said on Thursday it has reached a deal on revising its rules for managers of hedge funds and other alternative investments, easing industry fears of a post-Brexit crackdown on managers in London.
Danske Bank on Friday raised its full-year profit guidance and said it would resume paying dividends to its shareholders after posting forecast-beating earnings in the second quarter.
Mexico's Grupo Financiero Banorte reported on Thursday a 14% increase in second-quarter net profit, hitting 13.09 billion pesos ($764.68 million) on better results in its insurance and annuities and trading units.
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