Friday, August 10, 2018

The Two Largest Russian Banks Have Substantially Outperformed the Four Largest US Banks in Earnings Growth So Far During the Trump Administration ..... AND IT'S NOT EVEN CLOSE and All Six Banks Are Audited By Big 4 CPA Firms ........................................................................................

The Big 4 US Banks Generated Total Pretax Income of US$115.251 Bil in Annual 2017, Up Only 2% From That in Annual 2016

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On the Other Hand, the Two Largest Russian Banks Generated Total Pretax Profit of Russian Rubles RR 1,103 Bil in Annual 2017, Up an Exceptional 48% From That in Annual 2016

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The Big 4 US Banks Generated Total Pretax Income of US$63.981 Bil in the First Six Months of 2018, Up 5% From That in the First Six Months of 2017

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Russian VTB Bank Posted Total Pretax Profit of RR 122.6 Bil in the First Six Months of 2018, Up 58% From That in the First Six Months of 2017

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By Far the Largest Russian Bank Sberbank Posted Total Pretax Profit of RR 264.4 Bil in the First Three Months of 2018, Up 27% From That in the First Three Months of 2017.  Sberlank Has Not Yet Released Its June 2018 Quarter IFRS Earnings.

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This is Another Reason Why Russia is Being So Active in Its Cyber Attacks Related to the US November 2018 Elections

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From a review of SEC filings and Investor Relation Websites, the below chart shows for the past 18 months reported earnings information for the 4 Largest US Banks and the 2 Largest Russian Banks.
US US
US US GAAP GAAP
GAAP GAAP Pretax Pretax
Pretax Pretax Income Income
Income Income From From
From From Continuing Continuing
Continuing Continuing % Operations Operations %
Operations Operations Change Six Months Six Months Change
Annual Annual Better June June Better
2017 2016 (Worse) 2018 2017 (Worse)
Bils US$s Bils US$s Bils US$s Bils US$s
Big 4 US Banks
JPMorgan Chase            35.900            34.536 4%            21.234            18.090 17%
Bank of America            29.213            25.021 17%            16.892            15.441 9%
Wells Fargo            27.377            32.120 -15%            13.820            15.997 -14%
Citigroup            22.761            21.477 6%            12.035            11.659 3%
Total all 4          115.251          113.154 2%            63.981            61.187 5%
 IFRS   IFRS 
 IFRS   IFRS  GAAP GAAP
GAAP GAAP Pretax Pretax
Pretax Pretax % Profit Profit %
Profit Profit Change Six Months Six Months Change
Annual Annual Better June June Better
2017 2016 (Worse) 2018 2017 (Worse)
Bils RRs Bils RRs Bils RRs Bils RRs
Big 2 Russian Banks
Sberbank (1st Quarter in 2018)          943.200          677.500 39%          264.400          207.800 27%
VTB Bank (1st Half in 2018)          159.700            65.500 144%          122.600            77.800 58%
Total of Both       1,102.900          743.000 48%