Business

Brexit to hurt large U.S. banks’ 2016 earnings by 1-6 percent: KBW

(Reuters) – Earnings of large U.S. banks would be hit by 1-6 percent this year if Britons vote in favor of leaving the European Union next week, according to brokerage Keefe, Bruyette & Woods (KBW).

Britain’s exit could increase costs and weaken capital market activity, hurting banks such as Goldman Sachs Group Inc <GS.N>, Morgan Stanley <MS.N>, JPMorgan Chase & Co <JPM.N>, Citigroup Inc <C.N> and Bank of America Corp <BAC.N>, KBW analyst Brian Kleinhanzl wrote in a note on Thursday.

Morgan Stanley and Goldman Sachs, with large exposure to the capital markets, are expected to be the worst hit, Kleinhanzl said.

“Banks may have a two-year transition period and they could experience both revenue and expense headwinds during the transition,” he wrote.

For 2017, the impact on these banks’ earnings per share would be 2-9 percent, he said.

U.S. mortgage lender Wells Fargo & Co <WFC.N> is likely to be least impacted by a “yes” vote on June 23, the brokerage said.

However, in the longer term, the impact of Brexit is expected to be “a wash for U.S. universal banks,” Kleinhanzl said.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Kirti Pandey)

Related posts

Multi-National Shipping Company Invests in PNG

EMTV Online

SCHOOL SELF-FUND BORE WATER SUPPLY

Tamara Agavi

Gulf in Focus

Vasinatta Yama

Leave a Comment

error: Content is protected !!
  • Totoagung
  • Toto Slot
  • Slot Gacor Maxwin
  • Slot Gacor Maxwin
  • Totoagung2
  • Toto Slot
  • Toto Slot
  • Situs Toto
  • Toto Slot
  • Cantiktoto
  • Sakuratoto2
  • Sakuratoto3
  • Totokita
  • Totokita2
  • Totokita3
  • Toto Slot
  • Totokita3
  • Pay4d
  • Totoagung
  • Totoagung2
  • Amintoto Login
  • indoharian
  • republikpkk
  • pakettour
  • theapexherald
  • onlinepaperwriter
  • iklantemanggung
  • knoydart-foundation
  • tipswheel
  • thecoopmarketing
  • istanaxplaygaming
  • istanaxplay-gaming
  • shokosugi
  • https://malaybalaycity.gov.ph/
  • https://mysantinis.com/
  • https://www.sawyerglass.com/
  • https://www.thewrightlawyers.com/
  • https://www.colegiosramonycajal.es/
  • https://diskopukm.jogjaprov.go.id/
  • https://eastendfoods.co.uk/
  • https://forexblog.ae/
  • https://www.m2obras.com.br/
  • https://www.columbusfamilylaw.org/
  • https://simmonspavingcompany.ca/
  • https://breambugs.com/
  • https://somosboca.com/
  • https://gozarte.net/
  • https://www.alllanguages.com/
  • https://www.saguarolakeranchstable.com/
  • https://www.stmarysdubai.com/
  • https://bckonline.com/
  • https://centurybattery.com.my/
  • https://www.carlosesandoval.com/
  • Amintoto
  • Situs Toto
  • Toto Macau
  • Data Toto Macau
  • Situs Toto
  • Slot Gacor 4d
  • Pay4d
  • Toto Slot
  • Restoslot4d
  • Situs Slot Gacor
  • Qdal88
  • Slot Thailand
  • Slot88
  • Slot Gacor Gampang Menang
  • Qdal88
  • Slot Gacor
  • Slot Thailand
  • Slot Gacor Maxwin
  • QDAL88
  • SLOT THAILAND
  • THAILAND SLOT
  • QDAL88
  • Toto Slot
  • Sbobet
  • Sakuratoto
  • Bandar Toto
  • Situs Toto
  • Slot Gacor Maxwin
  • Sakuratoto
  • Situs Toto
  • Toto Slot