- Bank of America (BAC) reported a first-quarter efficiency ratio of 76.57, improving from 85.13 in the first quarter of 2012. As housing prices in the United States continue to recover, and as the company keeps working through its problem loans, repossessed property and mortgage repurchase demands, its efficiency ratio should improve significantly over the next two years.
- Citigroup (C) reported a first-quarter efficiency ratio of 61%, improving from 63% a year earlier. With the continued wind-down of Citi Holdings and the massive cost-cutting program announced in December, Citigroup's efficiency ratio should continue to improve.
- Wells Fargo (WFC) reported an efficiency ratio of 58.3%, for the first quarter, improving from 60.1% a year earlier.
- JPMorgan Chase's (JPM) first-quarter efficiency ratio was 62.66, increasing from 59.77 a year earlier, according to Thomson Reuters Bank Insight.
Interested in more on HSBC? See TheStreet Ratings' report card for this stock. -- Written by Philip van Doorn in Jupiter, Fla. >Contact by Email. Follow @PhilipvanDoorn