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2021-08-04

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Global banks made $170 billion in profits amid the epidemic, the most profitable year in history

对全球最大投资银行来说，一个简单而突出的事实是他们正创造前所未有的利润。财报季尘埃落定，十几家最大银行过去四个季度的利润总和超过1700亿美元，彰显出该行业与疫情早期的低迷相比发生了多么巨大的变化。仅在欧洲，前九大银行的拨备最近几周减少了88%。鉴于疫情仍在全球蔓延，利率处于纪录低点继续对银行贷款业务收入构成压力，该行业能否继续打破盈利纪录还有待观察。

Global banks made $170 billion in profits amid the epidemic, the most profitable year in history

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For the world's largest investment banks, a simple but prominent fact is that they are generating unprecedented profits.<b>The dust settles on earnings season, with a dozen of the biggest banks making combined profits over $170 billion in the past four quarters</b>, highlighting how dramatically the industry has changed compared to the downturn in the early days of the pandemic.<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Especially outstanding, the profit earned is equivalent to $131 million a day.</b></p><p>Some of COVID-19 pandemic's early successful deals helped the industry. As last year's market volatility subsides, investment bankers are poised to drive acquisition and fundraising activity with special purpose acquisition vehicles. Then as the world economy began to recover, banks with wealth management and asset management departments enjoyed the dividends of the stock market. The same trend has also benefited the retail sector, which has long been regarded as a drag on performance, as they begin to cut loan loss provisions.</p><p><b><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>And<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Both broke their own earnings records, European peers<a href=\"https://laohu8.com/S/UBS\">UBS</a>And Barclays both posted their highest profits in a decade</b>。<a href=\"https://laohu8.com/S/DB\">Deutsche Bank</a>And $France<a href=\"https://laohu8.com/S/601166\">Industrial Bank</a>(0J6Y. UK) $and other banks said business benefited from the improving global economy. Bank stocks reflect the impact of this wave of strong results, and Dow Jones<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>The industry index has risen 59% in the past year, and the European Stoxx banking index has risen 56%.</p><p><img src=\"https://static.tigerbbs.com/537edcdfec08a5a254944d9d2a368dd7\" tg-width=\"550\" tg-height=\"326\" referrerpolicy=\"no-referrer\"></p><p>Heating up market activity makes once frustrated<a href=\"https://laohu8.com/S/0H7D.UK\">Deutsche Bank</a>And Barclays traders benefited,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Investment banking posted its best quarter in history on dealmaking and advisory fees.</p><p>Months after the epidemic restrictions were put in place, the rising corporate activity reflects optimism about many areas of the global economy. Furthermore, banks felt this confidence and were enough to start cutting their huge loss provisions. In Europe alone, provisions at the top nine banks have fallen 88% in recent weeks.</p><p>\"Given the uncertainty that remains, all of our UK and European-rated banks are still retaining a substantial amount of provisions for ECLs,\"<a href=\"https://laohu8.com/S/MCO\">Moody's</a>Said Laurie Mayers, deputy managing director of Investor Services in London. \"However, the more positive outlook for major economies, including house price inflation, is putting pressure on banks to cut provisions.\"</p><p><img src=\"https://static.tigerbbs.com/c760d45cf9b0aa59bba22a274045bb75\" tg-width=\"550\" tg-height=\"314\" referrerpolicy=\"no-referrer\"></p><p>With the pandemic still spreading across the globe and interest rates at record lows continuing to weigh on bank lending revenues, it remains to be seen whether the sector can continue to break earnings records. Jefferies analysts said investors may look skeptical at provision cuts that have added to results in recent quarters, but this \"is a function of underlying macroeconomic and underwriting insight,\" said Jefferies analyst Joseph Dickerson.</p><p>\"Some of the revenue trends are likely to continue, especially as fee income continues to pick up, and there will be no repeat of large-scale write-downs. We continue to believe that the average expected credit cost is too conservative,\" Dickerson said.</p>","source":"sina_symbol","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Global banks made $170 billion in profits amid the epidemic, the most profitable year in history</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGlobal banks made $170 billion in profits amid the epidemic, the most profitable year in history\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2021-08-04 02:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Never mind what bankers are exhausted, worried about returning to the office and a new wave of the epidemic. For the world's largest investment banks, a simple but prominent fact is that they are generating unprecedented profits.<b>The dust settles on earnings season, with a dozen of the biggest banks making combined profits over $170 billion in the past four quarters</b>, highlighting how dramatically the industry has changed compared to the downturn in the early days of the pandemic.<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Especially outstanding, the profit earned is equivalent to $131 million a day.</b></p><p>Some of COVID-19 pandemic's early successful deals helped the industry. As last year's market volatility subsides, investment bankers are poised to drive acquisition and fundraising activity with special purpose acquisition vehicles. Then as the world economy began to recover, banks with wealth management and asset management departments enjoyed the dividends of the stock market. The same trend has also benefited the retail sector, which has long been regarded as a drag on performance, as they begin to cut loan loss provisions.</p><p><b><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>And<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Both broke their own earnings records, European peers<a href=\"https://laohu8.com/S/UBS\">UBS</a>And Barclays both posted their highest profits in a decade</b>。<a href=\"https://laohu8.com/S/DB\">Deutsche Bank</a>And $France<a href=\"https://laohu8.com/S/601166\">Industrial Bank</a>(0J6Y. UK) $and other banks said business benefited from the improving global economy. Bank stocks reflect the impact of this wave of strong results, and Dow Jones<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>The industry index has risen 59% in the past year, and the European Stoxx banking index has risen 56%.</p><p><img src=\"https://static.tigerbbs.com/537edcdfec08a5a254944d9d2a368dd7\" tg-width=\"550\" tg-height=\"326\" referrerpolicy=\"no-referrer\"></p><p>Heating up market activity makes once frustrated<a href=\"https://laohu8.com/S/0H7D.UK\">Deutsche Bank</a>And Barclays traders benefited,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Investment banking posted its best quarter in history on dealmaking and advisory fees.</p><p>Months after the epidemic restrictions were put in place, the rising corporate activity reflects optimism about many areas of the global economy. Furthermore, banks felt this confidence and were enough to start cutting their huge loss provisions. In Europe alone, provisions at the top nine banks have fallen 88% in recent weeks.</p><p>\"Given the uncertainty that remains, all of our UK and European-rated banks are still retaining a substantial amount of provisions for ECLs,\"<a href=\"https://laohu8.com/S/MCO\">Moody's</a>Said Laurie Mayers, deputy managing director of Investor Services in London. \"However, the more positive outlook for major economies, including house price inflation, is putting pressure on banks to cut provisions.\"</p><p><img src=\"https://static.tigerbbs.com/c760d45cf9b0aa59bba22a274045bb75\" tg-width=\"550\" tg-height=\"314\" referrerpolicy=\"no-referrer\"></p><p>With the pandemic still spreading across the globe and interest rates at record lows continuing to weigh on bank lending revenues, it remains to be seen whether the sector can continue to break earnings records. Jefferies analysts said investors may look skeptical at provision cuts that have added to results in recent quarters, but this \"is a function of underlying macroeconomic and underwriting insight,\" said Jefferies analyst Joseph Dickerson.</p><p>\"Some of the revenue trends are likely to continue, especially as fee income continues to pick up, and there will be no repeat of large-scale write-downs. We continue to believe that the average expected credit cost is too conservative,\" Dickerson said.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-08-04/doc-ikqciyzk9371233.shtml\">新浪财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/95414d8312d8ee2d8fac46fd621f61e7","relate_stocks":{"161121":"银行","0H7D.UK":"德意志银行","DB":"德意志银行","BAC":"美国银行","JPM":"摩根大通"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-08-04/doc-ikqciyzk9371233.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156228491","content_text":"别管什么银行家已经疲惫不堪，为了返回办公室而烦恼和新一波疫情了。对全球最大投资银行来说，一个简单而突出的事实是他们正创造前所未有的利润。\n\n财报季尘埃落定，十几家最大银行过去四个季度的利润总和超过1700亿美元，彰显出该行业与疫情早期的低迷相比发生了多么巨大的变化。摩根大通尤为出色，所获利润相当于每天赚进1.31亿美元。\n新冠疫情早期一些成功的交易帮助了该行业。随着去年的市场波动消退，投资银行家准备通过特殊目的收购工具来推动收购和筹资活动。然后随着世界经济开始复苏，拥有财富管理和资产管理部门的银行享受到了股市的红利。同样的趋势也惠及长期以来被视为拖业绩后腿的零售部门，因为他们开始削减贷款损失拨备。\n高盛和摩根士丹利双双打破自身盈利纪录，欧洲同行瑞银和巴克莱的利润都创十年来最高水平。德意志银行和$法国兴业银行(0J6Y.UK)$等银行表示业务受益于全球经济改善。银行股反映了这一波强劲业绩的影响，道琼斯美国银行业指数过去一年上涨59%，欧洲斯托克银行股指数上涨56%。\n\n市场活动升温让曾经失意的德意志银行和巴克莱交易员受益，摩根大通投行业务凭借交易撮合和顾问费创下历史最佳季度表现。\n在防疫限制措施实施数月后，企业活动升温反映了对全球经济许多领域的乐观情绪。进一步而言，银行感受到了这种信心，并足以开始削减庞大的损失拨备。仅在欧洲，前九大银行的拨备最近几周减少了88%。\n“鉴于仍然存在的不确定性，我们在英国和欧洲评级的所有银行仍在为预期信贷损失保留实质性数量的拨备，”穆迪投资者服务驻伦敦的副董事总经理Laurie Mayers表示。“然而主要经济体包括房价通胀在内的前景更加积极，正给银行带来削减拨备的压力。”\n\n鉴于疫情仍在全球蔓延，利率处于纪录低点继续对银行贷款业务收入构成压力，该行业能否继续打破盈利纪录还有待观察。 Jefferies分析师称，投资者可能会对近几个季度给业绩锦上添花的拨备削减报以怀疑目光，但这“是潜在的宏观经济和承销洞察力的函数，”Jefferies分析师Joseph Dickerson表示。\n“部分收入趋势可能会持续下去，特别是随着手续费收入继续回升，而且不会重演大规模减记的状况。我们继续认为对信贷成本的预期均值过于保守，”Dickerson表示。","news_type":1,"symbols_score_info":{"161121":0.9,"0H7D.UK":0.9,"DB":0.9,"JPM":0.9,"BAC":0.9}},"isVote":1,"tweetType":1,"viewCount":2143,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}