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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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Banca Carige announced its capital recovery plan on Monday, relying on friends and family to help it keep going. Italian banks have agreed to support it with €320m though the interbank deposit protection fund (FITD), and it will also be looking to existing shareholders. -
UniCredit said in its third quarter results on Thursday that it would move to a model in which all of its legal entities were self-funding, gradually minimising its intra-group exposure.
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Credit Suisse made a bold claim in its third quarter numbers — to topping the table for improvement in advisory and capital markets since it started its restructuring in 2015. But despite the investment banking momentum, the bank’s shares slid on Thursday as it reported a loss in its global markets business.
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HSBC recorded better profitability and higher revenues at the group level for the first nine months of 2018, with Asia continuing to play a key role. But the bank’s global markets business took a hit.
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Another poor set of results from Deutsche Bank left analysts wondering if radical reforms announced earlier this year will be enough to stop the bank’s slide.
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Barclays’ breakneck pace of investment into its trading businesses has borne some fruit in the third quarter of this year, with a 19% increase in markets income to £1.16bn. But banking was softer, and the results do not yet allow the firm to dismiss demands from Edward Bramson, the activist investor, to shrink the investment bank.
