Profit statements

EastWest profit down 15% on slow lending recovery

EastWest Bank (EW), headed by Gotianun, said 2021 profits fell more than 15% to 4.5 billion pesos as business slowed during the pandemic, although it stressed that the economic outlook were improving and that it was ready to exceed the setting of high loss provisions against bad debts. The company said in a statement that […]

Profit statements

ABSA Bank’s net profit rises 161% to 10.8 billion shillings

NAIROBI, Kenya, March 16 – Absa Bank Kenya has announced a 161% increase in its net profit for the financial year ended December 31, 2021, which stood at Sh109 billion. The bank attributed the rise to growth in interest income, particularly in the small and medium-sized business segment, which was supported to spur economic growth. […]

Profit statements

Nokia records its first profit and increases its turnover by 41%

HMD Global, the home of Nokia phones, reported smartphone revenue growth of 41%, helping it record its first full year of operating profitability in 2021. According to the company, it recorded six quarters of growth in the last two quarters of 2020 and four quarters of 2021. In a statement, HMD Global Chief Executive Florian […]

Profit statements

Russian lender TCS posts record profit, focused on challenges

Oliver Hughes, Chief Executive and Chairman of the Board of Tinkoff Bank, attends a ceremony as Russian lender TCS begins trading on the Moscow Stock Exchange in Moscow, Russia October 28, 2019. REUTERS/Evgenia Novozhenina/ Join now for FREE unlimited access to Reuters.com Register MOSCOW, March 4 (Reuters) – Russian lender TCS Group Holding (TCSq.L) said […]

Profit statements

Raiffeisen Bank International proposes to carry forward the entire net profit for 2021

By Ed Frankl Raiffeisen Bank International AG announced on Tuesday that it intends to carry forward its entire net profit from the 2021 financial year “due to the war in Ukraine”. The Austrian lender, one of the largest in Central and Eastern Europe, had previously planned to offer a 2021 dividend of 1.15 euros ($1.29) […]

Profit statements

CIMB Q4 net profit nearly quadruples to RM854.51m and pays dividend of SR12.55

KUALA LUMPUR (February 28): CIMB Group Holdings Bhd’s net profit for the fourth quarter ended December 31, 2021 (4QFY21) increased nearly fourfold to RM854.51 million from RM214.98 million it a year ago, due to significantly lower provisions. Its revenue for 4QFY21, however, fell 1.68% to RM4.59 billion from RM4.67 billion a year ago, its filing […]

Profit statements

British bank NatWest returns to profit in 2021

LONDON (AFP) – NatWest bank said on Friday it returned to profit last year as the economy recovered from the pandemic and is expected to benefit from rising interest rates this year. The British public lender said in a statement that net profit reached £2.95 billion in 2021, compared with a loss of £753 million […]

Profit statements

Deere aims for bigger profit as price hikes outpace energy profits

John Deere tractors are for sale at a dealership in Longmont, Colorado, U.S., February 21, 2017. REUTERS/Rick Wilking/File Photo Join now for FREE unlimited access to Reuters.com Register Feb 18 (Reuters) – Deere & Co (DE.N) has raised its full-year profit forecast after reporting better-than-expected quarterly results on Friday, as the world’s largest farm equipment […]

Profit statements

MGRC returns to profit in 2Q22

KUALA LUMPUR: Malaysian Genome Resource Center Bhd (MGRC) recorded a net profit of RM1.01 million in the second quarter ended 31 December 2021 (2Q22) compared to a net loss of RM1.55 million in the same period a year earlier. The improved performance was due to its successful penetration into immunotherapy and cell therapy distribution, which […]

Profit statements

Advance Auto Parts Inc. 4Q Reports Rising Sales, Falling Profits

By Denny Jacob Advance Auto Parts Inc. posted higher sales but lower earnings in the fourth quarter as some headwinds eroded improvements in pricing, inventory and proprietary brand expansion. The auto parts salesman reported profit of $81.7 million, or earnings per share of $1.30, compared with net income of $112 million, or earnings per share […]

Profit statements

Celtic report £27.6m profit in interim report amid ‘period of transition’

Celtic report £27.6m profit in interim report amid ‘period of transition’ CELTIC announced a pre-tax profit of £27.6 million in its interim report. The club have shared the six-month financial documents which cover the six months up to December 31 tonight. The document, along with a statement from chairman Ian Bankier, cited fan returns, matchday […]

Profit statements

Nordic insurer Sampo’s fourth-quarter profit beats forecasts

The Sampo Group logo is pictured at the company’s headquarters in Helsinki, Finland November 7, 2018. Vesa Moilanen/Lehtikuva via REUTERS Join now for FREE unlimited access to Reuters.com Register HELSINKI, Feb 9 (Reuters) – Finnish financial group Sampo (SAMPO.HE) reported a bigger-than-expected rise in fourth-quarter pre-tax profit on Wednesday, boosted by a strong performance in […]

Profit statements

Pennymac Financial Services profit drops 31% in fourth quarter

California-based non-bank mortgage lender Pennymac Financial Services saw record loan production last year, but a significant decline in net profits. Reflecting the landscape of higher rates, in the last three months of 2021, the servicing segment brought more returns to the business than production. The company reported net income of $1 billion in 2021, down […]

Profit statements

Siemens Gamesa replaces CEO after three profit warnings

A wind turbine model with the Siemens Gamesa logo in Zamudio, Spain, June 20, 2017. REUTERS/Vincent West/File Photo Join now for FREE unlimited access to Reuters.com Register Siemens Energy’s Eickholt to take over as CEO on March 1 CEO Nauen steps down after series of earnings warnings Frankfurt-listed Siemens Gamesa gains 2.1% in shares MADRID/FRANKFURT, […]