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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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Scope Ratings has appointed a former Standard & Poor’s equity analyst to its bank rating team, as the new kid on the ratings block gets ready to launch its first ratings on many European banks.
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Commerzbank, which recorded a decent set of full year results this week, is pushing to further its corporate finance business in several areas, the head of its corporate and markets division told EuroWeek. -
Société Générale’s corporate and investment banking business reported €6.7bn of revenues in 2013, a 14% increase on 2012 and headline group net income was strongly up at €2.175bn versus the previous year’s €790m. SocGen beat net income consensus estimates for the fourth quarter by nearly €160m.
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BNP Paribas reported weak full-year earnings on Thursday, with an unexpected provision wiping out much of the firm’s profit for the last quarter. Underlying performance also disappointed investors, with the investment bank seeing an almost 25% decline in profits.
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Barclays’ chief executive Antony Jenkins may have gone to bed happy on Monday night after the bank’s share price rose on his pre-announcement, a day early, of two headline numbers from its annual report. He was not smiling by Tuesday lunchtime.
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Commerzbank’s share price was up almost 3% on Wednesday’s close as it recorded a pre-tax profit of €232m for 2013 as well as making a pre-tax profit in the typically tricky fourth quarter, having taken a loss in the same period the year before.
