Citi disappoints investors with modest profit targets
Shares in Wall Street bank fall 3% in pre-market trading
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Citi sets aggressive targets for bankers in wealth management unit
Revised goals involve net revenue and value of assets clients entrust to Citi as business has lagged Wall Street peers
US bank stocks record biggest slide since April’s market ructions
Investors fret over growing strains in private credit and risks of AI disrupting the software industry
French lenders miss out on trading boom powering Wall Street banks
BNP Paribas and Crédit Agricole report higher first-quarter profit but are unable to fully capitalise on market volatility
US bank results: Investors set to scrutinise banks’ exposure to private credit
First-quarter results come amid growing concerns around the links between traditional lenders and the private credit boom
HSBC profits fall on higher credit charges
First-quarter income dips to $9.4bn, missing analyst expectations
There is method in the market’s madness
But it relies on a host of rosy assumptions going in investors’ favour