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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 has made some high profile appointments to its commercial banking teams in Hong Kong and Mainland China, according to an announcement on Thursday. -
A large write-down in European private banking left HSBC nursing a heavy quarterly loss at the end of 2016, despite a strong performance in global banking and markets and trading profit that nearly doubled.
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HSBC's Asia profit before tax from global banking and markets slipped 33% to $654m in the fourth quarter of last year from $972m in Q4 2015, mirroring a fall in income.
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HSBC outlined in its annual results announcement on Tuesday some of the difficulties it is facing in the Chinese market, but also said it was raising its revenue targets for the RMB business in 2017.
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Credit Suisse finished 2016 with a Sfr2.4bn ($2.39bn) annual loss but investors found reasons for optimism in the bank’s strong capital position and revenue growth in investment banking and capital markets, causing the stock price to rise 3.05% on the morning it reported.
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Credit Suisse partially stepped away from its plan to place part of its ‘Swiss Universal Bank’ on the market to raise capital, as the bank’s asset disposals and legal settlements came out better than expected, taking the pressure off the bank's capital levels.
