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Questions grow over banks as profit warnings pile up

Posted by Farmboy @ 6:36 on February 12, 2016  

PARIS (AP) — Questions are growing over the financial health of banks, particularly in Europe and the U.S., as they face a toxic mix of low economic growth, bad loans and squeezed earnings.

France’s Societe Generale became Thursday the latest bank to issue a confidence-shattering profit warning, which helped trigger a new sell-off in financial stocks. The bank saw its share price stumble 12 percent and major rivals like Deutsche Bank and UniCredit saw losses of nearly 10 percent.

European banks are not the only ones to suffer. Japanese bank Mitsubishi Financial fell 7 percent on Thursday. In the U.S., Morgan Stanley, Citigroup and Bank of America are down more than 30 percent so far this year.”

http://hosted.ap.org/dynamic/stories/B/BANK_TROUBLES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2016-02-11-14-44-25

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.