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Saturday, March 3, 2012

Largest USA Banks Report Overall Poor Earnings QoQ and YoY

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Largest USA Banks Net Income QoQ The 9 Largest USA Banks reported an average +3.90% increase in quarterly net income QoQ for the QE 12-31-11, compared to the prior quarter QE 9-30-11. However, this is misleading. 6 of the 9 banks reported a decrease and the chart below indicates overall QoQ performance was poor. A significant portion of the average was attributable to Goldman Sachs at +357.76% QoQ, swinging from a quarterly net loss of -$393 million for QE 9-30-11 to a quarterly net income of +$1.01 billion for QE 12-31-11.
How the Largest Banks Performed QoQ:
Goldman Sachs +357.76%
U.S. Bancorp +6.05%
Wells Fargo +1.28%
JPMorgan Chase -12.53%
BNY Mellon -28.01%
PNC Financial Svcs -40.89%
Bank of America -68.05%
Citigroup -69.11%
Morgan Stanley -111.37%




Largest USA Banks Net Income YoY The 9 Largest USA Banks reported an average +2.96% increase in quarterly net income YoY for the QE 12-31-11, compared to the year-ago quarter QE 12-31-10. However, this is misleading. 6 of the 9 banks reported a decrease and the chart below indicates overall YoY performance was poor. A significant portion of the average was attributable to Bank of America at +260.05% YoY, swinging from a quarterly net loss of -$1.24 billion for QE 12-31-10 to a quarterly net income of +$1.99 billion for QE 12-31-11.
How the Largest Banks Performed YoY:
Bank of America +260.05%
U.S. Bancorp +38.60%
Wells Fargo +20.30%
Citigroup -11.00%
JP Morgan Chase -22.83%
BNY Mellon -31.12%
PNC Financial Svcs -39.88%
Goldman Sachs -57.56%
Morgan Stanley -129.90%




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