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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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Deregulation proposals from the US Treasury Department could be a blessing for foreign banks, which are struggling with trapped capital and costly restructurings in their US units — and falling further behind their thriving US competitors. But reform could be further away than ever, as the Trump White House staggers into self-inflicted crisis. -
ANZ’s cash profit rose 5.3% to A$1.79bn ($1.4bn) for the third quarter ending June 30, as the Australian lender continues to reshape its institutional banking business.
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The ongoing recovery of Royal Bank of Scotland, the UK banking group, took a step closer to completion on Friday when unveiled a profit in the first half of the year, aided by a sharp increase in profit from its investment banking division NatWest Markets.
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Barclays said in its second-quarter results that it would redeploy capital from parts of the corporate bank into markets, reversing the course many banks have taken since the crisis, and affirming the bank’s ambitions as a top-tier fixed income trading house.
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UniCredit’s turnaround plan, which featured a €13bn rights issue and a €17bn NPL sale, seemed well on track on Thursday, as the bank smashed profit expectations for the second quarter with €945m, sending the shares soaring more than 7%. The bank itself prefers to cite a €1.3bn profit figure, stripping out currency translation effects from the sale of its Polish bank Pekao.
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Commerzbank booked all of the €807m restructuring costs associated with its 'Commerzbank 4.0' programme in the second quarter, pushing the bank to an overall loss of €406m. But the bank’s management are optimistic about the second half of the year, and argue that some of its businesses have turned a corner.
