& Co reported first-quarter profit ahead of Wall Street estimates on Wednesday as the bank set aside less money to cover soured loans. The fourth-largest U.S. lender said profit rose to $4.74 billion, or $1.05 per share, in the three months ended March, from $653 million, or 1 penny per share, a year earlier. Analysts on average had expected a profit of 70 cents per share, according to the IBES estimate from Refinitiv. The slight year-earlier profit was caused by an exceptionally large provision for potential loan losses, as U.S. banks braced for unpaid bills due to the COVID-19 pandemic shuttering the economy and pushing millions out of work.

Group Inc on Wednesday easily beat Wall Street expectations for first-quarter profit, as the U.S. investment bank capitalized on record levels of global dealmaking activity and a coronavirus-driven boom in stock market trading. Overall investment banking revenue rose 73% to $3.77 billion, its highest since 2010, while equities trading surged 68% as a jump in trading by ordinary investors fed stock market volatility. Global investment banking fee hit an all-time record of $39.4 billion during the March quarter, according to Refinitiv data. The massive 47% jump in trading revenue was in line with the broader gains for trading desks across Wall Street and was a result of the volatility generated by a surge in retail trading of "meme stocks" like GameStop.

The importance of fintech companies is such that the annual value of fintech operations in Mexico is more than 3 billion dollars, with 4.7 million users and an ecosystem growth of 48%, according to the 2019 Fintech Thermometer prepared by Banco Santander, Finnovista and Google. In addition, the digitization of sectors such as small businesses continues as an area of opportunity for fintech companies, by integrating financial inclusion schemes through electronic terminals, software and applications to facilitate transactions; Fintech companies have become a financial and leverage alternative for these economic entities. The pandemic has not been a stone in the shoe for fintech companies, since there is more capital available for them, since 60% of Mexican financial technology companies have already received some type of funding, according to figures from Finnovista, a percentage validated by funds of national venture capital (VC). Mexico has a fintech sector that will be consolidated thanks to the positive impact that its companies generate on financial inclusion in segments such as loans, payments and remittances and business finance management, but above all because fintech companies promote new business models with technology and solutions.