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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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A poor third quarter for Commerzbank’s investment banking division and the announced retirement of its chief executive has done little to spoil the bank’s overall sense of momentum, as it posted better profits than had been widely expected and revealed it would pay its first dividend in eight years. -
BNP Paribas outdid its fixed income and equity peers during the third quarter of the year, as revenues in its corporate and institutional banking division grew 4.2% year on year to €2.62bn.
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Royal Bank of Scotland’s sale of Citizens, its US retail bank, helped to boost headline profits in the third quarter, but the UK lender posted high restructuring and litigation costs that are not expected to fall any time soon.
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Barclays delayed announcement of its expected restructuring plan, as it is still in discussion with the regulator, but said that new chief executive Jes Staley would join the bank early, as it announced third quarter results on Thursday.
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Profits at Santander’s global corporate banking arm fell as the bank faced higher costs developing new franchises.
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Deutsche Bank will close several businesses in its global markets division, including market making in uncleared credit default swaps, uncleared interest rate swaps with dealers, agency RMBS trading and high risk weight securitized products trading.
