Blackrock archives “the strongest organic growth in history” in 2021. Net profit of 1.6 billion beats expectations for the quarter
Blackrock, one of the largest investment company to the world, take home a 2021 record-breaking, with “the strongest organic growth in our history and assets under management a new highs. We have generated 540 billion net inflows up 6% with an organic growth of basic commissions of 11%, driven by record flows in ETFs and active strategies “, underlined the CEO Laurence Fink.
Coming to the numbers, in the three months to December the company reported a net profit of 1.64 billion, $ 10.63 per share, on 6% more than the 1.548 billion, $ 10.02 per share, for the same period of the previous year, while theNet income adjusted was $ 10.42 per share. THE revenues rose by 14% a 5.106 billion.
The analysts they expected earnings of $ 10.16 per share on a turnover of 5.16 billion. In the whole 2021, L’net profit rose by 20% to 5.901 billion, $ 38.22 per share, from $ 4.932 billion, $ 31.85 per share, in 2020. annual revenues rose by 20% a 19.374 billion.
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THE results “record in each of our strategic priorities demonstrate the benefits derived from continuous investments in our platform over the years, “said CEO Laurence Fink, noting that BlackRock’s strategy helps ensure”lasting returns for our shareholders“.
According to the company’s number one, “as the world continues to navigate uncertainty and profound changes in economies and society in general, BlackRock remains focused on helping clients achieve their investment goals. ” BlackRock, has explained Fink, “begins 2022 better positioned than ever. We remain confident in our ability to continue to generate differentiated organic growth over the long term “.
Returning to the figures, BlackRock reported a operating profit of 2.039 billion (+ 10%) in the quarter and 7.45 billion (+ 31%) in 2021, with a operating margin 39.9% (from 41.3%) in the quarter and 38.5% (from 35.1%) in the year. In 2021 the net inflows amounted to € 540 billion (reflecting organic asset growth of 6% and record inflows in the ETF and active strategies sector), including € 212 billion in the fourth quarter.
Last year BlackRock returned to shareholders 3.7 billion, including $ 1.2 billion in repurchased shares. The Board has also decided on a 18% increase in the quarterly dividend cashas $ 4.88 per share.
“Our activities are more diverse than ever: active strategies, including alternative ones, have contributed to more than 60% at the commission growth in 2021. The iShares ETF platform continued to be a significant growth driver with record flows of 306 billion. Activities related to technological services they had revenues of 1.3 billion, “he said Fink.
JP Morgan, in the fourth quarter, profits reached 10.4 billion, while revenues reached 29.3 billion
While JP Morgan, one of the largest American banks, announced that it has closed the fourth quarter of 2021 with profits of 10.4 billion dollars, or earnings per share of $ 3.33, better than the $ 3.01 per share expected by analyst consensus. L’eps however, it fell from $ 3.79 per share in the same period last year, when profits stood at $ 12.14 billion. THE quarterly revenues totaled $ 29.3 billion.
As for the whole of 2021, the net profit of JpMorgan is up to a record level of 48.3 billion dollars, equal to an eps of $ 15.36. The Cet1 is at 13% and the Roe at 19%. The asset under management amount to 3.1 trillion dollars, an increase of 15%. In 2020 net profit was $ 29.1 billion, with an eps of $ 8.88, a Cet1 at 13.1% and a Roe at 12%.
Returning to the results of the fourth quarter 2021, i revenues reported amounted to $ 29.3 billion ($ 29.6 billion in Q4 2020) and managed revenues totaled $ 30.3 billion ($ 30.16 billion).
As regards the different business activities of JpMorgan, the division Consumer & community banking it recorded revenues down 4% to 12.3 billion dollars and a net profit of 4.2 billion (-2%). For Corporate & Investment banking revenues were equal to 11.5 billion dollars (+ 2%) and net profit of 4.8 billion (-9%); the division Commercial banking saw revenues rise 6% to $ 2.6 billion and net income fall 38% to $ 1.25 billion; L’Asset & Wealth management it had revenues up 16% to $ 4.5 billion with profit up 46% to $ 1.1 billion. There Corporate divisioninstead, it recorded a loss of 1.1 billion euros, which compares with a loss of 358 million dollars a year ago.
“JpMorgan reported solid results across all of our divisions, benefiting from high activity on the capital markets and a recovery in lending, also considering average lending increased by 6%, “he commented Jamie Dimon, president and CEO of the bank. “The economy continues to do fairly well despite Omicron variant headwinds, inflation and supply chain bottlenecks. Credit continues to be healthy with exceptionally low net charges and we remain optimistic about US economic growth as the sentiment of businesses is positive and consumers are benefiting from jobs and rising wages, “he added Dimon.
Citigroup, in the fourth quarter, the profit drops 26% to 3.17 billion. Revenues up 1% to 17 billion
Citigroup closed on fourth quarter with profits falling, but above estimates, erA modest increase in revenues and above forecasts. The company blamed the drop in profits on a sharp rise in spending. In the three months to December, the New York bank hit a net profit of $ 3.173 billion, $ 1.46 per share, down by 26% compared to 4.325 billion, $ 1.92 per share, for the same period last year.
THE revenues rose 1% to 17.017 billion. Analysts expected earnings of $ 1.39 per share with a turnover of $ 16.85 billion. In the full year, profits jumped 99% to 21.952 billion, while revenues fell 5% compared to 2020 to 71.884 billion.
“The 2021 ended quite well, bringing net income for the year to $ 22 billion in a much better credit environment. Citi returned nearly 12 billion to shareholders and the tangible book value increased by 7% during the year. We continue to transform our bank by focusing on simplifying and building a culture of excellence, ”said CEO Jane Fraser.
Citigroup reported a increase in expenses (+ 18% in the fourth quarter to 13.532 billion dollars and + 9% to 48.193 billion in the whole of 2021), partly offset by the drop in the cost of credit and an increase in revenues. The quarterly data was also affected by a one-off tax burden of approximately $ 1.2 billion linked to the divestment in the consumer banking division in Asia, announced earlier. Under the leadership of Jane Fraser, Citi has greatly reduced its international activity in the consumer sector (it is exiting 14 countries, including Mexico) with the aim of simplifying business and increasing profitability.
“Given the intention of concentrate the franchise in Mexico on institutional and private banking activities, we have decided to review the plans for the markets we intend to exit. We continue to make steady progress in executing our strategy, as demonstrated recently by the signing of an agreement to sell four businesses in Asia. We are also aligning our organization and reporting structure with this strategy, ”Fraser said.
Coming back to the accounts, the book value per share is 92.21 dollars and the tangible book value of $ 79.16 (both + 7%), the Cet1 capital ratio rose to 12.2%, in the wake of the actions taken to reduce the Rwa (risk-weighted assets) and the temporary pause in the buyback plan for own shares.
At the end of the quarter the provisions against future credit-related losses amounted to € 16.5 billion, equal to 2.49% of total loans, against 25 billion, 3.73% of loans for the same period of the previous year. Non-performing assets fell overall by 40% to 3.4 billion (-30% in the consumer segment to 1.5 billion). At the end of the quarter, loans amounted to $ 668 billion (-1%), while deposits rose 3% to $ 1,300 billion.
Wells Fargo, fourth quarter profit of $ 5.8 billion. Revenues at 20.86 billion
Wells Fargo achieved in the fourth quarter of the fiscal year a earnings per share of $ 1.38 and revenues of $ 20.86 billion. The net profit was equal to 5.8 billion dollars. The earnings recorded by the US institute are higher than the results of the same period last year when the profits amounted to 3.1 billion dollars. THE earnings per share results of $ 1.38, were above analysts’ expectations of $ 1.11 for the fourth quarter. Revenues, equal to 20.86 billion dollars, compare with the previous reference of 18.7 billion.
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