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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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UniCredit’s second quarter profits were up almost 30% from last year, with the commercial and investment bank and Italian commercial bank taking most of the credit. The CEE business remains important, but Russia dragged the division sharply down. -
Société Générale’s top tier equities trading businesses delivered for the French bank in the second quarter, delivering a 61% increase in revenues to €799m, nearly half of total markets revenue.
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HSBC’s strength in Asia paid off in the first half of the year, with the equity markets business flying on the back of intense volatility across Asian bourses and the ramp up of Stock Connect. The bank’s restructuring also swung into life, with the sale of its Brazil unit and $50bn of RWAs cut from the investment bank.
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A strong global markets performance helped BNP Paribas post sharply improved second quarter results from a record loss last year, as the bank’s fixed income, currency and commodities revenues outdid its peers.
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Spain’s Banco Santander on Thursday announced a 24% surge in first half profits as revenues grew and provisions shrank in its far-flung retail network, although its wholesale banking unit turned in a roughly flat performance.
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An uptick in fixed income trading helped to treble Deutsche Bank’s second quarter profits to €818m. The bank also capitalised on increased market volatility to benefit from a surge of currency trading.
