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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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The confirmation on Tuesday morning that Lloyds had won the race to buy MBNA, the UK credit cards business owned by Bank of America, means the portfolio has little chance of returning to the securitization market. -
UniCredit will not be one of the Basel IV ‘outliers’ that will have to substantially increase its capital levels when the new rules come in, according to chief executive Jean-Pierre Mustier, speaking at the launch of the bank’s new strategic plan on Tuesday morning.
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Credit Suisse updated the market on the progress of its strategic turnaround on Wednesday, lowering its revenue targets and stepping up its cost cutting. The majority of the additional cost cutting will hit global markets, while in investment banking it has already cut down its reliance on leveraged finance.
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Credit Suisse has lowered profit targets for its Asia Pacific division amid a slump in volumes and capital markets activity, the bank said at its investor day this week.
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Royal Bank of Canada’s capital markets division dragged on the bank’s fourth quarter results, posting a 13% year on year decline in profits.
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Natixis’s ‘asset light’ restructuring strategy, called New Frontiers, showed signs of success in Q3 with revenue from new loan production more than doubling and equities jumping 14%.
