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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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As the major US banks reporting strong performances for the first quarter this week, Morgan Stanley boss James Gorman and chief financial officer Jonathan Pruzan picked out their European securitization operation out for praise, on the back of financing activity for legacy portfolios. -
Barclays’ decision to carry on its legacy RMBS fight in 2016, rather than settle as Credit Suisse and Deutsche Bank did, has paid off handsomely, with a $2bn civil settlement for the bank and $2m for the two bankers at the centre of the suit announced last Thursday.
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Jes Staley opened up this week, explaining why Barclays has taken a contrarian bet to dedicate more balance sheet to the markets division of its investment bank this year.
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The EU’s lenient treatment of the IFRS 9 accounting rules has opened a loophole for Italian banks — allowing them to push through punishing provisions on their NPL portfolios, but wish away the impact on their regulatory capital — which could save the weakest banks from turning to shareholders for more cash, and speed up portfolio sales.
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Standard Chartered announced solid profit growth for 2017, with the bank underlining that the rise of renminbi will continue to present business opportunities for the group, and that the currency could make up 5% of global payments by 2020.
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Barclays reported annual results on Thursday, revealing the huge scale of the firm’s trading balance sheet expansion in 2017, as it scales back up in its historical strength of macro trading. But the low volatility last year weighed on returns, and the growth in the trading book has yet to deliver the profits it hopes for.
