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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 overall health of the European Union’s banking system has improved in the last two years, but the banks that were weak in the 2014 European Banking Authority stress tests are still limping behind the rest.
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Natixis caught the benefits of the excellent trading environment for rates and foreign exchange, on the back of the Brexit vote, while the bank’s M&A business also did well, following the integration and relaunch of Leonardo & Co as ‘Natixis Partners’.
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UBS’ overall revenue beat analyst expectations, but a drop in equity capital markets and derivatives income dragged the investment banking unit to a 15% drop in year-on-year revenue in the second quarter.
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Nomura saw a Brexit-related bounce in its fixed income division when it reported its quarterly performance on Thursday, thanks to a healthy dispersion of client trading views. But the bank’s European operations still delivered an overall loss.
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Credit Suisse posted lower second quarter revenues and pre-tax income in Asia Pacific, after being dragged down by its investment bank.
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A strong second quarter performance in fixed income trading has bolstered BNP Paribas’ corporate and investment banking results and helped cushion falls in its equities business and domestic retail banking arm.