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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 two major Canadian investment banks, Royal Bank of Canada (RBC) and TD, reported fourth quarter and full year results this week, and demonstrated starkly differing performances in their wholesale divisions.
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Royal Bank of Canada made C$2.3bn of profits in its fourth quarter (August, September and October), an 11% increase that took its profit for the year to C$9bn. But the bank took a hit in its capital markets division, as revenues decreased 14% to C$1.49bn. -
Investment banking profits look poor at the two big Italian banks, UniCredit and Intesa’s investment bank Banca IMI.
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Intesa’s corporate and investment banking arm, Banca IMI announced third quarter profit of €58.5m on Monday, nearly half the €119.7m it reported in Q3 2013, driven down by high operating costs.
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UniCredit Group’s €2bn profit target for 2014 is within grasp after a decent set of third quarter results, which showed an improvement over last year at the group level. But the investment bank’s profits are still down on last year, despite an improvement in loan values for the first time in two years.
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BNP Paribas’s traditional strength in fixed income paid off in its third quarter numbers, as the return of volatility in September allowed it to turn in a solid performance in FX and rates. Meanwhile French rival Société Générale had a tougher quarter thanks to sliding equity volumes, though it still reported strength in its market-leading equity derivatives business.
