5 Bank All-Stars Ready for Strong Earnings This Week

By Larry Gellar With JP Morgan Chase & Co. (JPM) releasing a better than expectedearnings report Friday, there is now significant pressure on other financial companies to also have strong earnings. Let's take a look at five bank all-stars that are releasing earnings in the period from July 15th to July 21st. Citigroup, Inc. (C) released earnings on July 15th. For the sixth quarter in a row, the company made a profit. Additionally, the company beat analyst expectations, but there is certainly one caveat to be had. The company did not need to use some of the money it had set aside for bad loans, so that money was actually counted as income. While this is obviously not a bad thing, it is a bit confusing because the money that was set aside was probably not generated this quarter. Citigroup's financial supplement did not spell out the company's cash flows for the past quarter, so look for this information to be rather valuable once it is determined. Also of interest is that Citigroup experienced growth in both its consumer and corporate loans, much of it being from emerging markets. This is important because it shows the company's strength in places that aren't as affected by U.S. or [...]

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