Wall Street bank earnings under pressure after crisis

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Most Wall Street banks are likely to report lower quarterly earnings and face a dour outlook for the rest of the year, with last month’s regional banking crisis and a slowing economy expected to hurt profitability. | Reuters

The bank is expected to report a 30- percent rise in EPS, buoyed by an almost 36- percent increase in net interest income, according the Refinitiv I/B/E/S estimates and Reuters calculations.

He said bank managements will become more defensive, implementing liquidity measures that could lead to downward revisions for net interest income. Goldman’s earnings per share could fall by a fifth, hurt by investment banking woes, after a bigger-than-expected 69 percent drop in fourth-quarter profit, hurt by wealth management revenue and consumer business losses.The S&P 500 bank index is down 14 percent year-to-date.

 

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