Published: Jan. 31, 2024 at 9:39 p.m. ET By Kosaku Narioka Aozora Bank shares fell sharply after it projected a fiscal-year net loss due to higher provisions for U.S. office loans as well as losses from foreign bonds. Shares were recently 21% lower at 2,557.0 yen, falling to the day’s trading limit on Thursday morning.
New York Community Bancorp reported a surprise loss as it wrote down bad real estate loans, sending its stock tumbling Wednesday and dragging down the share prices of regional banks across the country. “This was a major negative surprise,” Jon G. Arfstrom, an analyst at RBC Capital Markets, said in a Wednesday note. New York
Banks continue to navigate a bumpy landscape in loans tied to a drop in office-space value and rent prices in many markets as workers stay at home. In one high-profile example on Tuesday, New York Community Bancorp NYCB cited a need to increase its allowance for credit losses (ACL) on the heels of an office
When SoFi Technologies reports earnings Monday morning, investors will be watching closely to see if the company succeeds in posting its first quarterly profit. The fintech’s management has previously said it expects to report its first profit—according to generally accepted accounting principles—for the 2023 fourth quarter. That said, analysts are a bit less optimistic, expecting
Quick facts about bad-credit car financing: Even borrowers with numbers in the lowest credit score categories may find auto loan financing. You should dispute errors on your credit report when you find inaccurate information that lowers your credit score. Increasing your down payment on the car helps convince potential lenders that you are serious about your finances. Financing a car with
Morgan Stanley was boosted by its wealth management unit as the ongoing deal drought has taken its toll on Wall Street’s dealmakers. The lender’s wealth management business added net new assets of $282bn in 2023, growing 7%, according to results published on 16 January. Investment banking revenue, meanwhile, tanked from 13% to $4.6bn as deal activity has remained in
Published: Jan. 16, 2024 at 5:30 a.m. ET Bajaj Finance Ltd. 500034 shares inched down 0.05% to 7,472.70 Indian rupees Tuesday, on what proved to be an all-around poor trading session for the stock market, with the S&P BSE Sensex Index 1 falling 0.27% to 73,128.77. Bajaj Finance Ltd. closed 717.30 rupees below its 52-week
January 16, 2024, 7:00 AM UTC China’s calmest offshore credit market in years will be tested in coming months by maturities at major developers and ongoing weakness in the property market. A gauge of credit stress in the nation’s offshore bond market held at 1 in December, according to Bloomberg’s China Credit Tracker, matching November’s
Leading figures in the financial sector are shunning Davos this year, as the World Economic Forum fights to compete with a growing number of rival conferences around the world. Bank of England governor Andrew Bailey, Dame Anne Richards of Fidelity International, John Studzinski of Pimco and Hendrik du Toit of Ninety One have all opted
My dad wants to take out a mortgage and has tried, unsuccessfully, to have Sallie Mae release him as cosigner on my $153,000 student loan. What can we do?
I thought it was a federal loan because I believe they did both types of loans. I started paying back the $153,000 interest-only loan in September 2022, while my dad paid towards the principal and the balance increased. They removed the interest-only repayments after several calls were made regarding the balance not being reduced. My