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The Swiss bank posted the biggest quarterly profit on record thanks to an accounting gain related to its acquisition of Credit Suisse, but weak performance at its former rival hints at a long road back to growth
Imminent half year results will reveal whether the new Swiss bank is a hastily patched monster or a new financial powerhouse
Banks are determined to stick to their growth plans as they see cause for optimism in investment banking thanks to increasing confidence and a growing pipeline of deals
Wall Street is urging the Fed to be cautious despite the regulator hinting higher capital requirements are coming
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NatWest Markets made a loss in the first quarter, Royal Bank of Scotland said on Friday when presenting its results, partly thanks to it being made to account for the cost of old RBS plc debt. The group will also now stop including NatWest Markets when reporting its net interest margin, and one analyst said this could raise questions about commitment to the investment bank. -
UBS investment bank’s profit before tax fell by more than half in the first quarter of 2018, with year-on-year declines in almost all divisions, the Swiss institution revealed on Thursday.
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Nomura announced in its results on Thursday that its wholesale business made a loss both in the fourth quarter and in the year as a whole. The Japanese bank is looking to cut back the division.
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Barclays beat expectations in fixed income, currencies and commodities trading (FICC), according to its first quarter results announced on Thursday, which it attributed to a strong performance in rates. This helped to offset reduced fees for deals and an equity trading slump, as its corporate and investment bank seeks to provide the return on capital in the face of shareholder pressure.
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Credit Suisse was first off the blocks among big European investment banks in releasing its first quarter results on Wednesday. While trading revenue was strong, underwriting and advisory revenues disappointed, compared with US peers.
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Investment banking activity suffered a sluggish start to the year at the top US names, particularly in equity underwriting, but conditions brightened as winter turned to spring.
