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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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BNP Paribas reported a big upturn in fixed income revenues in the first quarter of 2017, thanks in part to the terrible quarter that kicked off last year, and to the benign backdrop across almost all markets. -
Barclays’ global banking business saw a strong start to the year, but without the huge percentage increases seen at its peers. It’s the comparison quarter that made the difference — Barclays was stronger in the turbulent first quarter last year than many other investment banks.
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UBS delivered a 24% return on equity in its investment bank for the first quarter — without the aid of the flattering equity attribution model analysts have criticised in the past. The bank revamped equity attribution this year so that corporate centre does less of the heavy lifting, meaning a 26% increase in equity attributed to the investment bank.
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Nomura’s full year results on Thursday showed the Japanese bank’s international division in fine fettle, recording the highest profits since the bank started splitting out regions in its reporting. The bank was helped by a benign market backdrop in the quarter, and by the culmination of a rapid cost-cutting programme that saw it shutter European equities last year.
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Credit Suisse’s Asia Pacific business performed strongly in the first quarter of 2017, with robust results coming from the wealth management and connected business (WM&C).
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Deutsche Bank’s cost cutting and capital raising efforts are starting to pay off, with the bank dragging itself to profitability in the first quarter after full-year losses of €1.4bn in 2016. However, net revenues were down €800m year on year, and the shares dipped after the announcement on Thursday.
