Scandal ‘will hit bank earnings’

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A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake. Wells Fargo & Co reported its fourth straight fall in quarterly profit as it set aside funds for potential legal costs amid an increasingly politicized bogus-account scandal that cost Chief Executive and Chairman John Stumpf his job.

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Wells Fargo Stock Takes Hits, But Dividend, Earnings Still Intact. accounts to jolt sales figures and hit. to face a financial scandal, other bank stocks have traded more tightly as Wall.

That’s on top of the $185 million fine Wells Fargo paid last year when news of the scandal first broke, and much more than the $40 million to $50 million the bank had expected to spend on those costs.

Earnings. Under CEO Brian Moynihan, the bank managed to deliver record first-quarter profit in April, fueled by the.

Citi posts strong earnings, despite taking $22 billion hit from tax reform. It’s expected to be a noisy quarter for bank earnings. a South African retailer whose accounting scandal already.

The tracker mortgage scandal will weigh on Bank of Ireland’s earnings for this year and to a lesser extent affect its capital position, a ratings agency said. Moody’s said the impact of the.

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The scandal is a rare setback for the bank, which emerged from the. Financial Performance April 13, 2017 Wells Fargo Earnings Hit by Accounts Scandal The bank reported net income was flat at $5.5 billion for the first quarter while revenue fell to $22 billion from $22.6 billion a year earlier.

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LOS ANGELES (MarketWatch) — Italy’s central bank on Saturday approved a bailout request for 3.9 billion euros ($5.3 billion) from a bank hit by a trading scandal, according to reports.

Volkswagen says it is postponing release of its full-year earnings as well as its annual shareholder meeting due to open questions about its diesel emissions scandal. The German carmaker said Friday it would give new dates for the earnings release, formerly slated for March 10, and for its shareholder gathering originally set for April 21.

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