Financial Shenanigans
Uh oh. Analysts say Wells Fargo, a big American bank, is putting a positive sheen on its results by cutting its loan-loss reserve in the same quarter it booked a £1bn increase in non-performing loans.
Writing off non-performing loans against a reserve has no impact on profits, but reducing the reserve boosts them, allowing the bank [...]
Latest iBall episodes- An error has occurred; the feed is probably down. Try again later.