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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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Société Générale have posted what it called a “resilient” quarterly performance in global markets, with revenue down -12.5% against the third quarter last year, in line with other European peers. The French bank also cut operating expenses in global markets by 10.2% against the same quarter last year, giving them a return on investment of 13.9% in the period despite poor growth at home.
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Higher costs and provisions around retail business in Ukraine and Italy as well as litigation has meant that analyst predictions for Credit Agricole’s third quarter results have proved too optimistic. But the French bank’s profits rose 25.8% from the same period last year to €967m, while it is up 2% for the first nine months of its financial year with profits of €2.4bn.
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Commerzbank’s corporates and markets division posted third quarter pretax profits almost double those of the same period in 2013, after increased volatility in interest rates and currency markets pushed up revenues in the bank's fixed income and currency businesses. -
Natixis posted solid third quarter results on Wednesday, with a 21% rise in net income, partly driven by bigger asset management revenues, but its capital markets business dropped sharply year on year.
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Santander has built on a strong showing in the European Central Bank’s comprehensive assessment with an impressive set of third quarter results, which included a big rise in earnings for its UK unit and investment bank.
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HSBC’s third quarter profits and revenues were flat on last year's, as a punchy performance from the markets division was swallowed up by yet more conduct charges, including a $701m provision for payment protection insurance, a $550m US mortgage settlement, and a $378m provision against the Financial Conduct Authority’s foreign exchange investigation.
