SBI to raise Rs 20,000 crore Aug 13, 2010
However, because of aggressive provisioning, the net bad debt rose by only 1. 7% against 1. (India Times, India -- Intl Business)
NTN Buzztime, Inc. Announces Second Quarter 2010 Results Aug 13, 2010
Selling, general and administrative expenses increased primarily due to increased personnel and related expenses of $376,000, increased bad debt expense of $63,000 and an increase in the loss on the disposal of capitalized software of $149,000. These increases were offset by reductions inconsulting expense of $111,000, decreased legal expense of $107,000,a decrease in other tax expense of $119,000, decreased facilities expense of $94,000and a decrease in travel expenses of $75,000. (Yahoo! Wire -- Entertainment News)
Helping people through tough times Aug 13, 2010
They could be facing custody issues, divorce issues, bad debt or losing a job. Our case managers work intensely with these families to solve those problems. (McKinney Courier-Gazette, TX)
Cheer up, Ralph, you still have your health Aug 12, 2010
The huge profit improvement last financial year - up 42 per cent on only a 6 per cent revenue lift - essentially was a delayed reaction, engineered largely by a sharp drop in bad debts as the domestic economy improved. For the past two years, that bad debt cycle obscured an important trend among the big four banks. (Sydney Morning Herald -- Business)
Banks hold fewer bad real estate loans Aug 12, 2010
The amount of bad debt held by Southwest Florida banks took a nosedive over the past year mainly because federal regulators shut down the ones with mountains of real estate loans gone sour ... Unemployment is responsible for a big chunk of the bad debt, she said ... 4 million in bad debt) and Florida Community ($175. (The News-Press -- Business)
WGI Heavy Minerals Announces Second Quarter and Half Year Earnings Aug 12, 2010
8% over the second quarter of 2009, made up of increases in travel expenditures and selling and marketing expenses offset by a decrease in professional fees primarily due to bringing legal counsel in-house and lower bad debt expense. Income tax expenses increased to $0. (Canada Newswire)
CBA takes hit on uninspiring outlook Aug 12, 2010
The group's latest half also saw Bankwest incur a small loss due to higher bad debt charges while wealth management dropped 11 per cent and business banking only increased its contribution by 3 per cent. ... 3 billion reduction in bad debt charges to $2 billion, and an increasing share of income from a market now dominated by the big four banks. (Sydney Morning Herald -- Business)
Standard Bank: lower rates, inflation stem bad debts Aug 12, 2010
Lower interest rates, inflation helping bad debts June 18, 2010. South Africa's Standard Bank said on Friday that falling inflation and interest rates were improving the sector's bad debt situation as Africa's largest economy emerges from recession ... "(Bad debts) have been a huge challenge for the financial industry, but we're seeing good signs there with declining interest rates and with the decline in inflation having a positive impact on the industry's bad debts," said Tshabalala, who is... (Business Report, South Africa)
UOB Q2 net profit up 28%, beats forecast Aug 11, 2010
UOB benefited from an 89% drop in bad debt charges from a year earlier. The bank said it had a strong balance sheet which would allow it to tap growth opportunities. (The Star Online, Malaysia -- Business)
The Last Option Aug 11, 2010
eIBD Investor's Business Daily Digital Edition. Access recent eIBD issues easily. (Investors Business Daily)
Economic hurdles remain Aug 11, 2010
Those figures showed just how important the fall in bad debt charges from $3 ... 1 billion profit for its latest financial year with a result driven by much lower bad debts and an increasing market share. (Sydney Morning Herald -- Business)
CBA results belie bank's challenges Aug 11, 2010
On the positive side, all banks are enjoying the benefit of lower bad debt charges which are starting to return toward normal territory - although there are still loans that remain in critical condition for the long term. CBA is no exception with its charge for bad debt expense halving during the second half, falling to the equivalent of 0 ... One caveat to this is the recently acquired BankWest unit is still causing headaches on the bad debt front given problem property loans. (Sydney Morning Herald -- Business)
Tix Corporation Reports 2010 Second Quarter and First Six Month Results Aug 10, 2010
During the periods ended June 30, 2010, the Company recorded a charge for bad debt of $1. 0 million. (Yahoo! Wire -- Entertainment News)
'India: No asset bubble cycle' Aug 10, 2010
And a low of the bad debt in the private sector will be transferred to the public sector. What are the implications of these developments for India. (India Times)
Stressed debtors open to calls, collections efforts for years Aug 8, 2010
How a bad debt starts. The dramatic final effort to collect a debt, a debtor's lawsuit, usually results from months or years of ignored calls and letters from banks, collection agencies and debt buyers. (AZCentral -- Business)
The Washington Post Company Reports Second Quarter Earnings Aug 7, 2010
Excluding the multiemployer pension plan charge, early retirement program expense and accelerated depreciation, operating results improved in the first half of 2010 due to expense reductions in payroll, newsprint, depreciation, bad debt and agency fees, and expense reductions at washingtonpost. com. (Yahoo! Wire -- Entertainment News)
Royal Bank of Scotland in profit Aug 7, 2010
38 billion) after it slashed US bad debt and raised earnings in emerging markets. Barclays said its first-half net profit rose almost a third to STG2. (Sydney Morning Herald -- Business)
State-rescued RBS returns to profit Aug 6, 2010
76 billion dollars in the first half after it slashed US bad debt and raised earnings in emerging markets. Barclays said its first-half net profit rose almost a third to 2. (India Times)
easyhome Ltd. Reports 2010 Second Quarter Results All Time Record Revenue Earnings Increase 72% to $0.31 Aug 6, 2010
"It was a great quarter that exceeded expectations and resulted in each business segment improving their comparable operating income. Our performance is a direct result of the operational and administrative changes initiated in the third quarter of last year, which continued into the latest quarter," said David Ingram, President and CEO. "Our Canadian leasing business is seeing the benefits of better execution at the basics of leasing and collecting, which has resulted in 2.7% more lease... (CCNMatthews Press Releases)
Report calls Jackson Health System 'colossal mess' Aug 6, 2010
Report calls Jackson Health colossal mess - South Florida Business Journal. Report calls Jackson Health colossal mess. (South Florida Business Journal, FL)
RBS Poised to Sell WorldPay Aug 6, 2010
Europe's top banks, such as HSBC , BNP Paribas and Barclays , all posted bumper profits on the back of lower bad debt charges, although their underlying prospects remain a concern for some investors. RBS, which is 83 percent state-owned, posted an operating profit of 869 million pounds ($1. (ABC News -- Business)
Superior Plus Announces 2010 Second Quarter Financial Results and Updated 2010 and 2011 Financial Outlooks Aug 6, 2010
The increase in expenses was due primarily to the contribution from the acquisition of the U.S. refined fuels assets and Griffith, higher maintenance costs and bad debt provisions offset in part by lower wages and benefits related to expense management initiatives in response to fluctuations in volumes ... 3 million or 4% lower than the prior year quarter due to reduced bad debt provisions and the impact of the appreciation of the Canadian dollar on US-denominated expenses ... Energy Services... (CCNMatthews Press Releases)
- Investment banking lifts net earnings 29 percent at Barclays Aug 6, 2010
British bank Barclays PLC said yesterday that net earnings jumped 29 percent in the first half of this year on the back of surging profits at its investment banking division and tumbling bad debts ... Bad debt charges, meanwhile, plunged by 32 percent to G3. (Taipei Times, Taiwan -- Sports)
Jitters Cloud Barclays and Commerzbank Profits Aug 5, 2010
LONDON/FRANKFURT (Reuters) - Lower bad debts propelled higher-than-expected profits at Barclays and Commerzbank on Thursday, but ongoing regulatory and economic uncertainty reined in investor optimism ... Barclays' earnings followed a pattern set by peers such as HSBC and BNP Paribas earlier this week, who trumped earnings forecasts after a sharp drop in their bad debt charges. (ABC News -- Business)
Barclays profit jumps on bad debt fall, credit gain Aug 5, 2010
British bank Barclays Plc beat expectations with a 44 percent rise in half-year profit as bad debts dropped sharply and it made a big accounting gain, offsetting a second-quarter slowdown at its investment bank ... Bad debts fell by 32 percent to 3. (Business Report, South Africa)
Barclays bank net profits soar 29% Aug 5, 2010
LONDON: British bank Barclays said on Thursday that net earnings jumped 29 per cent in the first half of 2010, on the back of surging profits at its investment banking division and tumbling bad debts ... Bad debt charges, meanwhile, plunged by 32 per cent to 3. (India Times)
NPR Announces Second Quarter Results and Increase in Distributions Aug 5, 2010
Any subsequent recovery of balances owed from past tenants is recorded as a reduction in the bad debt provision for the period. In addition, NPR records an allowance for doubtful accounts from current tenants and other receivables where the expected amount to be collected is less than the actual accounts receivable. (CCNMatthews Press Releases)
Wyoming Medical Center's uncompensated care less than projected Aug 5, 2010
The preliminary figures from the 2009-10 fiscal year that ended June 30 indicate uncompensated care -- the combination of charity care and bad debt -- amounted to about $45 million, Nancy Brandt said ... The WMC also experienced less bad debt -- when patients who did not apply for charity care did not or could not pay -- requiring it to try to collect through collection agencies or the courts, she added ... While the overall amount of uncompensated care for 2009-10 was higher than previous... (Casper Star-Tribune, WY)
Dunlap wants to serve more than two decades on hospital board Aug 4, 2010
Bad debt and charity care people that cant pay and wont pay thats a very big issue, too, he said. Being a businessman, I guess I look at it a little differently, but we just have to build it into our business plan to take care of it. (Gillette News-Record, WY)
Financial and Operating Results of Trilogy Energy Corp. for the Three and Six Months Ended June 30, 2010 Aug 4, 2010
"Operating income" is equal to petroleum and natural gas sales before financial instruments and bad debt expenses minus royalties, operating costs, and transportation costs. "Net debt" is calculated as current liabilities minus current assets plus long-term debt. (CCNMatthews Press Releases)
Lower Bad Debts Help UK Bank Lloyds Post H1 Profit Aug 4, 2010
LONDON (Reuters) - Lloyds , Britain's biggest retail bank which was part-nationalized during the credit crisis, returned to profit in the first half of 2010 from a loss a year earlier after lower bad debt charges boosted earnings. Lloyds Banking Group said on Wednesday it made a pretax profit of 1. (ABC News -- Business)
HSBC doubles first-half profit as its loan impairments halve Aug 3, 2010
HSBC's first-half net income doubled as the North American unit returned to profit for the first time in three years and bad debt provisions fell by 46 percent, it said yesterday ... Total bad debt provisions declined to $7. (Business Report, South Africa)
Want to sit on cemetery, hospital board? Aug 3, 2010
Of the challenges the trustees will face, Morasko said physician recruitment, hospital construction, bad debt and charity care will be ongoing issues. They are the ones to establish the policies, the procedure and hospital culture. (Gillette News-Record, WY)
HSBC profit doubles to US$6.76bil Aug 3, 2010
76bil in the first half of 2010 as the global banking giant slashed its bad debt provisions. The profit after tax figure for the six months to June 30 compared with net earnings of US$3. (The Star Online, Malaysia -- Business)
Nedbank retail bad debt improvement slow - COO Aug 3, 2010
Nedbank's bad debts at its retail unit are improving at a slower-than-expected rate, the chief operating officer of South Africa's fourth-largest lender told Reuters on Monday. "What we would expect to see is a continued improvement in impairments, specifically in retail, but we think it will be slightly slower than we would have liked to have seen at the beginning of the year," Graham Dempster said in a telephone interview. (Business Report, South Africa)
Cost cuts drive hospitals profit gains Aug 2, 2010
The hospital controlled the expense of uncompensated care with bad debt and charity care dropping each year for the past four years. That reversed this year, primarily because of a new freestanding emergency room in North Port. (Tampa Bay Business Journal, FL)
For sale: happiness comes with a $40,000 price tag Jul 31, 2010
Those smaller debts tend to be associated with ''bad debt'' such as credit cards and overdue bills but debts above $100,000 like mortgages are generally linked to more valuable assets that can appreciate in value and positively influence happiness. It's what credit counsellors have been telling us for years. (Sydney Morning Herald -- Business)
Arius3D Corp. Announces Fiscal Year End Financial Results Jul 30, 2010
Other expenses were higher year-over-year due to an approximately $39,000 increase in general and administrative expense, the fact that bad debt expenses increased by approximately $31,000 (a result of one account being delinquent in paying for life size replica creation services that were provided), and interest expense increasing by approximately $67,000 (due to an increase in the principal amount of debentures being outstanding). Net Loss. (CCNMatthews Press Releases)
Delphi Energy Reports Record Production of 8,035 boe/d for Second Quarter 2010 Jul 29, 2010
During the quarter, The Company recorded bad debt expense of $0. 3 million related to the settlement of disputed processing fees with a joint venture partner. (CCNMatthews Press Releases)
Cadence swings to $49M profit in Q2 Jul 29, 2010
Excluding items, the company would have had income of $18 million, or 7 cents a share, including the reversal of $10 million in bad debt reserves. In the same period of 2009 Cadence had a non-GAAP loss of $13 million, or 5 cents a share. (San Jose Business Journal, CA)
Chasing Lakshmi? Jul 27, 2010
Given the protracted process of recovery of bad debt, despite the passage of enabling acts like the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act, LVB would do well to proceed cautiously. The RBI, as the banking sector regulator, must also keep an eye open to ensure the deal does not boomerang on the bank and the banking sector at large, even if LVB is not exactly a systemically-important large bank. (India Times)
China's bad debt risks mount after stimulus splurge Jul 26, 2010
6:22PM Monday Jul 26, 2010. July 26, 2010 - 5:27PM. (Sydney Morning Herald -- Business)
Profit prospects brighten: UBS Jul 26, 2010
"Banks are de-rated at the moment because of the fear of sovereign debt problems, the fear of what that means for banks' balance sheets, the fear of slower economic growth, and the fear that bad debt charges will be large. I think this is overly pessimistic'', he said. Mr Shields said investors had factored in bad news in the short term. ''There are no strong expectations that we're going to be seeing great results this reporting season - it's very, very unlikely'', he said. He also warned... (Sydney Morning Herald -- Business)
The Week in Bay Area Business Jul 25, 2010
Wells Fargo expects to see less bad debt. Wells Fargo, the biggest U.S. mortgage lender, topped quarterly profit estimates on Wednesday - helped by a shrinking pool of bad debt. (San Francisco Chronicle -- Technology)
7 EU banks fail worst-case stress test scenario Jul 24, 2010
In 2007, the bad debt connected to repackaged subprime mortgages started undermining banks and hedge funds, and by early 2008 confidence in the system was slipping fast. This time it is the exposure of banks everywhere to sovereign debt -- the IOUs of governments -- whose value has been falling for months. (Salon)
Most European banks fit after stress tests Jul 24, 2010
Just as the US banks suffered from piles of bad debt from mortgage-backed securities and other credit-bubble excesses, banks in Europe have come under scrutiny for their holdings of government bonds from near-bankrupt nations such as Greece. The results are comforting on the surface, providing the first evidence that Europe s banking sector may be stronger than some had feared. (Boston Globe)
Allied Brands shares plunge 24% on guidance news Jul 23, 2010
The downgraded profit forecast was also due to the failure to settle contracts for the sale of the Bay Swiss franchised stores, as well as significantly increased trading losses in these stores and increased bad debt provisions. Allied said it was cutting about $3 million in overheads and reducing operating costs by $4. (Sydney Morning Herald -- Business)
Cardinal Financial earnings more than double Jul 22, 2010
McLean-based reported quarterly earnings that more than doubled, as assets, loans and deposits rose and bad debt fell. The parent company of had fiscal second quarter net income of $4. (Washington Business Journal, DC)
Bernanke Signals No Policy Shift as Outlook Dims Jul 22, 2010
But he said banks continue to hold a "large volume" of bad debt, while continued tight lending conditions are hitting small businesses "particularly hard.". Bernanke and other members of the policy-making Federal Open Market Committee "expect continued moderate growth, a gradual decline in the unemployment rate, and subdued inflation over the next several years," he said. (SmartMoney)
Americans manage debt payments better Jul 21, 2010
To start, banks have already written off much of their bad debt. Banks have also gotten more selective about customers, to improve their odds of being repaid. (Boston Globe)
BofA looks to sell Balboa insurance arm Jul 19, 2010
BofA executives also acknowledged they greatly underestimated the amount of bad debt on Countrywide s books. Moynihan has put the brakes on BofA s acquisition binge and thrown it into reverse, already shedding operations in foreign banking, asset management and other areas he sees as not directly related to domestic banking. (New Mexico Business Weekly, NM)
Europe gets a breather before bank stress tests Jul 18, 2010
Economists warn that the results could reveal that some banks exposed to bad debt need injections of fresh capital. Banks in Spain could need a total capital injection of 50 billion euros (63 billion dollars), analysts at Royal Bank of Scotland estimated. (Yahoo! Asia News)
Two budgets will increase Jul 17, 2010
5 million loss, about $300,000 more than this year, which is partly due to its losses through charity care and bad debt. The hospital plans to spend $22 million this year on those two expenses $16 million for bad debt and $6 million for charity care with charity care up more than $4 million from last year ... As a result, this new fiscal year is the first year the mill tax levy will not cover most of the hospitals uncompensated care such as charity care and bad debt, Fitzgerald said. (Gillette News-Record, WY)
Euro hits $1.30 for first time since May 10 Jul 17, 2010
European officials hope results of 'stress tests' on 91 banks accounting for 65 percent of the European banking system will reassure investors worried that some lenders may have hidden the true extent of their exposure to bad debt. Recommend. (Yahoo! Asia News)
Credit Card Defaults, Late Payments Dip in June Jul 16, 2010
One reason is that much of the bad debt has already been written off the Federal Reserve said the industry's charge-off rate was just short of 10 percent of balances for the first three months of the year. That came after banks wrote off about $35 billion in unpaid balances last year. (ABC News -- Wire)
AgBank shares open higher in Hong Kong debut Jul 16, 2010
Heavy exposure to China's poverty-stricken interior meant that mission was frustrated by decades of chaotic policies, leaving it awash with bad debt. Despite Beijing's efforts to salvage AgBank, it is the weakest of China's big banks and it remains to be seen whether it can shift from policy bank to profit-oriented company. (Channelnewsasia.com)
AgBank shares open higher on China debut Jul 15, 2010
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AgBank makes lacklustre China debut Jul 15, 2010
But heavy exposure to China's poverty-stricken interior meant that mission was frustrated by decades of chaotic policies, leaving it awash with bad debt. Despite Beijing's efforts to salvage AgBank by wiping more than 345. (Sydney Morning Herald -- Business)
AgBank set for massive IPO debut Jul 14, 2010
But heavy exposure to China's poverty-stricken interior meant its mission was frustrated by decades of chaotic policies, leaving it awash with bad debt. 1. (India Times)
China's AgBank set for massive stock debut Jul 14, 2010
Channel NewsAsia - China's AgBank set for massive stock debut - channelnewsasia. China's AgBank set for massive stock debut Posted: 14 July 2010 0912 hrs. (Channelnewsasia.com)
I See America Spending Jul 13, 2010
The revolving debt figures the Fed reports each month are affected by three factors: the volume of write-offs of bad debts, the amount of debt consumers pay back, and the volume of new loans originated ... But writing off bad debt has accounted for only a small portion of the decline. (Slate)
HOAs sue to collect dues Jul 12, 2010
Many are now writing off bad debt rather than throwing good money after bad, Weissman said. They re being more selective, said Weissman, more often targeting a homeowner s paycheck or bank accounts. (Atlanta Journal-Constitution -- Business)
What should we do to contain the Rawlingses? Jul 12, 2010
Write him off like a bad debt or develop tough skins to soak up the pressure from him while making sure that he doesnt do anything to subvert our democracy. I want to share my thoughts on this Rawlings menace with readers, not because I am so much fixated on the Rawlingses but because their circumstances continue to cast a long shadow over our national interests, which is the crux of the matter that bothers me. (Ghana Web, Ghana)
China's AgBank offers room for improvement Jul 11, 2010
But heavy exposure to China's poverty-stricken interior meant its mission was frustrated by decades of chaotic policies, leaving the bank awash with bad debt and with a reputation as the weakest of China's major state lenders ... Its bad debt ratio dropped from 4. (Sydney Morning Herald -- World)
Stocks end rough quarter Jul 4, 2010
Its economy represents only a tiny part of the European Union but traders worried that bad debt would trip up the world's financial system the way it did after the collapse of Lehman Brothers in September 2008. Those fears morphed into concerns about how much countries have been spending to revive growth. (Courier-Journal -- Business)
