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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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Commerzbank reported a dramatic fall in first quarter profits on Tuesday, sending its shares down nearly 10%.
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BNP Paribas managed 10.1% increase in profit to €1.8bn for the three months to March despite weaknesses in its investment banking division.
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Better than expected first quarter results from HSBC on Tuesday demonstrated the unfashionable truth that giant universal banks do get a diversification benefit, even when financial markets are in turmoil and interest rate margins are under pressure.
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HSBC’s Asia business took a hit in the first quarter of 2016 with profits from the region slumping. But there were some pockets of hope, with syndicated lending and M&A activity in China driving growth for the UK-headquartered lender.
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Banco Santander posted a €1.6bn profit for January to March, above market expectations but 5% down from 2015’s first quarter, which the bank blamed on local currencies’ depreciation against the euro.
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Despite high profile restructuring efforts, the exit of business lines and substantial redundancies in debt capital markets, Deutsche Bank’s front office headcount remains remarkably resilient.