Wachovia profits slip 10% for quarter
Story date: 2007-10-19 10:32:00
Added on: 2007-10-19 17:45:57
MSN MoneyCentral - The fourth-biggest US lender wrote down $1.3bn to account for losses on leveraged loans, mortgage-backed securities and commercial-paper investments. "I'm deeply disappointed that our overall results are not better," Ken Thompson, chief executive of ...
Read more...
Related Stories:
-
Wachovia warns of further falls
MSNBC - Wachovia on Friday warned that the downturn in US credit markets might extend into next year as writedowns from losses...
2007-10-19 04:23:00 -
Wachovia Net Drops 10% on Mortgage, Loan Writedowns (Update2) (Bloomberg.com)
Oct. 19 (Bloomberg) -- Wachovia Corp., the bank that's spending more on acquisitions than its biggest competitors, reported earnings that missed analyst...
2007-10-19 05:27:41 -
US bank Wachovia ousts CEO after losses (RTÉ News)
Wachovia, one of America's biggest banks, said its chief executive Ken Thompson is leaving the bank as its board of directors seeks...
2008-06-03 01:37:11 -
Wachovia Credit-Loss, Loan Reserves Reach $1.7 Bln (Update6)
Bloomberg - Nov. 9 (Bloomberg) -- Wachovia Corp., the fourth-biggest U.S. bank, said mortgage-related losses and reserves for bad loans total $1.7...
2007-11-09 01:46:00 -
Leveraged Loans Lose $28 Billion While Carlyle Gets Punished
Bloomberg - Lenders are taking advantage of the distress to recoup losses after the collapse of the subprime mortgage market caused $551...
2008-01-02 09:25:00 -
Wachovia sues California mortgage firm over loans (BizJournals)
Struggling to manage its mortgage losses, Wachovia Corp. is suing a California mortgage lender for failing to buy back bad loans....
2008-07-20 09:25:15 -
Wachovia, Fifth Third, KeyCorp Post Losses on Weak Home Markets - Bloomberg
July 22 (Bloomberg) -- Wachovia Corp. , Fifth Third Bancorp and KeyCorp posted second-quarter losses and Regions Financial Corp.'s profit missed analysts'...
2008-07-22 07:19:00 -
Goldman earnings fall by half, yet beat views
Forbes - Goldman also recorded about $1 billion of net losses on residential mortgage loans and securities, as well as net losses...
2008-03-18 07:47:00