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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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Royal Bank of Scotland explained to the market how it plans to structure the group to meet the UK’s ring-fencing rules, with a rebranding of several divisions ahead of the expected implementation date for the rules in January 2019. -
Commerzbank has offered further details on how it plans to scale back its trading operations, and on the future path of the bank and its focus on digital. On Thursday, it announced around 9,600 job cuts, and the combination of the Corporates and Markets division with the Mittelstandbank.
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Commerzbank confirmed on Thursday morning that it planned a new revamp of it’s strategy, dubbed Commerzbank 4.0, which would cut back further on trading activities, merge the investment bank with the Mittelstandbank, write off goodwill and intangibles, and axe its dividend.
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With another slew of mediocre investment banking results due, there’s a renewed round of calls for 'radical visions' and 'thinking outside the box'. But, while thinking the unthinkable has its merits, it’s the hard, detailed work inside the box that pays the bills.
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After reporting two consecutive quarters of year-on-year decreases in capital markets revenue, Royal Bank of Canada delivered a C$635m profit from the division as the bank booked record third quarter results.
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DBS Group's profits stumbled during the second quarter of 2016 as the bank had to put provisions aside to deal with potential effects from its exposure to troubled energy services firm Swiber Group.
