David Henry

Second quarter profits at big U.S. banks are expected to fall sharply from a year earlier on increased loan loss reserves, as the pandemic recovery gives way to a possible recession.

Big U.S. banks including JPMorgan Chase & Co and Citigroup appear set for some earnings boost from a pick-up in the battered credit-card business, but a possible recession would pull consumers back and bring losses on outstanding loans.

Concerned that JPMorgan Chase & Co might be starting to lose its profit advantage over competitors, analysts and investors are lining up questions for long-time CEO Jamie Dimon and other executives appearing at the bank's first investor conference in two years on Monday.

Citigroup Inc is in "active dialog" to carry out the sale of its Russia consumer business that it announced a year ago, Chief Executive Jane Fraser said on Monday.

Western countries' use of economic sanctions to punish Russia for its invasion of Ukraine is prompting some international clients of Citigroup Inc to explore new ways to conduct trade and finance, the bank's chief executive said on Monday.

Big U.S. banks are expected to show a sharp decline in first quarter earnings from a year ago, when they benefited from exceptionally strong dealmaking and trading, and funds set aside for loan losses being released.

Wall Street bankers have long talked about how higher interest rates will deliver additional revenue from loans and higher-yielding securities.

Swings in asset prices following Russia's invasion of Ukraine could hit first-quarter profits at big U.S.

The U.S. dollar index recovered after falling on Tuesday as volatile oil prices impacted the euro and markets grappled with the significance of talks between Russia and Ukraine and indications that COVID lockdowns will crimp economic growth in China.

Bank analysts offered downbeat assessments on Thursday of the timeline Citigroup Inc laid out this week for lifting profits and some said the risk of losses in Russia could reduce its stock repurchases this year.

Citigroup Inc Chief Financial Officer Mark Mason and investment banking head Paco Ybarra have tested positive for COVID-19, forcing the company to hold its investor day as a virtual day on Wednesday instead of in person.

Citigroup executives will lay out detailed plans for generating better returns and address concerns over expenses at a shareholder meeting next month which analysts and investors say could determine its future.

JPMorgan Chase & Co (JPM.N), the biggest U.S. bank by assets, said on Sunday that it has selected impoverished areas around Paris as the first foreign focus of an urban economic development strategy it started four years ago in Detroit.

Jamie Dimon, CEO of JPMorgan Chase & Co (JPM.N), quickly backtracked on Wednesday morning from having said he could beat President Donald Trump in a campaign but not liberal Democrats.