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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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HSBC's annual results show the bank's focus on RMB business has yet to translate into revenue growth. -
HSBC plans to issue between $5bn-$7bn of additional tier one debt in the first half of this year, clearing the path for share buybacks in the second half. The bank is prevented by listing authority rules from issuing AT1 at the same time as running a buyback, meaning it delayed its issuance plans last year.
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Following a fourth quarter in 2016 that saw frenzied trading on the back of Donald Trump’s election as president, a rally in US stocks and a steepening yield curve, the biggest US banks saw trading revenues slide at the end of last year.
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All of the US banks that reported results this week booked losses related to troubled South African retailer Steinhoff, other than Morgan Stanley — despite the close relationship between the bank and the firm, which saw it handed a plumb gloco role on the IPO of its African retail arm in September.
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Emerging markets debt investor Ashmore saw $3.6bn of inflows in the quarter running up to the end of December last year, a sign that syndicate bankers are taking as further proof that the bull market has plenty of gas left in the tank.
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JP Morgan said its fourth quarter investment banking revenue was up 10% on the year to $1.64bn — a welcome boost, given a miserable result in markets — but said that it had booked $273m against the troubles of South African retailer Steinhoff.
