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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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HSBC’s 2014 results underline the pain the bank has suffered from multiple conduct failures, as it swallowed $3.7bn of fines, settlements, customer redress and provisions through the year.
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Natixis posted weak annual results in its capital markets division on Thursday, with revenues down 13% year-on-year in 2014, even as the bank’s profit at group level grew by 16% at €1.3bn. -
Crédit Agricole’s shares leapt 7.3% this morning after the bank published an encouraging set of 2014 results, including higher profits in investment banking and the group’s Italian subsidiary Cariparma.
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UBS and Credit Suisse tackled the damage to their profitability from the Swiss National Bank’s abandonment of the Swiss franc-euro peg in their full year results this week.
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UniCredit and Intesa Sanpaolo reported skinny profits, but knocked it out of the park compared to last year, when both banks took multi billion euro writedowns to prepare their balance sheets for forensic examinations during the European Central Bank’s Asset Quality Review.
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Société Générale has set out to continue transforming its business after solid fourth quarter results showed profit improved 7.5% on the year to €511m. Operating costs were 5.3% lower than last year, bringing the French bank 80% of the way towards hitting its target €900m of savings expected by the end of 2015.
