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A senior medium term note and private placement trader has resigned his position at BNP Paribas.
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The European Central Bank took over direct supervision of the eurozone’s largest banks on Tuesday, a big step forward for what is already a powerful institution — and likely to be a force to be reckoned with for banks in its charge. -
Société Générale have posted what it called a “resilient” quarterly performance in global markets, with revenue down -12.5% against the third quarter last year, in line with other European peers. The French bank also cut operating expenses in global markets by 10.2% against the same quarter last year, giving them a return on investment of 13.9% in the period despite poor growth at home.
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Higher costs and provisions around retail business in Ukraine and Italy as well as litigation has meant that analyst predictions for Credit Agricole’s third quarter results have proved too optimistic. But the French bank’s profits rose 25.8% from the same period last year to €967m, while it is up 2% for the first nine months of its financial year with profits of €2.4bn.
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Commerzbank’s corporates and markets division posted third quarter pretax profits almost double those of the same period in 2013, after increased volatility in interest rates and currency markets pushed up revenues in the bank's fixed income and currency businesses.
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Natixis posted solid third quarter results on Wednesday, with a 21% rise in net income, partly driven by bigger asset management revenues, but its capital markets business dropped sharply year on year.
