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Financial institutions specialist heads to German bank
New system starts with nearly 100% coverage of trading data
Europe’s regulator proposes preserving capital requirements while trimming the complexity that hampers cross-border M&A
Banks face an uncertain future as finance goes digital
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Covered bond bankers are increasingly fielding calls from mainly German banks who want to know whether their covered bond investments are compliant with Article 129 of the Capital Requirements Directive (CRD). The process has become more challenging recently, because the European Central Bank will no longer provide this information.
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Mitsubishi UFJ has hired a senior MTN dealer as head of medium term notes, the latest move in the company’s efforts to grow its MTN business.
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Commerzbank Group on Thursday posted a pre-tax profit of €257m in the second quarter, up from €74m in the second quarter last year, and has exceeded its 2016 target for reducing the exposure at default in its non-core asset portfolio — helping to boost its share price by over 2.3% on the day. -
UniCredit's investment banking results are dominated by loan losses, with financing revenues from Italy swelling 62% but entirely wiped out by provisions taken in the region. Separately, Jean Pierre Mustier, the head of the unit, announced his departure on Tuesday.
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Crédit Agricole took a €708m hit from its exposure to Banco Espírito Santo (BES) as its second quarter profit halved from the same period last year. Despite this, the French bank’s first half earnings compared more favourably year-on-year, aided by its improved first quarter and what it called “good business momentum”.
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Société Générale’s strength in structured products and equity derivatives allowed it to record flat revenues for equities markets, against a backdrop of low volatility and lower volumes which has seen most other investment banks report drops of more than 10% in their equity markets divisions.
