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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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Some of the largest investment banks made 12% less revenue from lending in the first quarter, despite balance sheet expansion as they supported companies, according to research from analytics firm CRISIL Coalition. -
Rabobank said on Wednesday that it would take advantage of various EU schemes of funding and capital support, as it provided the market with an ad hoc update on its financial position during the coronavirus pandemic.
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It was a busy first quarter at Commerzbank’s corporate clients division, as companies rushed to secure liquidity and access Germany’s support programmes. But that division and the group as a whole made a loss in the quarter, results released on Wednesday showed, as cost of risk rose and valuations of derivative positions fell.
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Natixis’s corporate and investment bank slumped to a loss in the first quarter, results showed on Wednesday, as it provisioned for credit losses and took a similar hit in equities to its French peers.
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When revealing its first quarter results on Wednesday, UniCredit said it would be updating its freshly launched Team 23 plan in the wake of the coronavirus crisis, which has dented profitability.
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BNP Paribas blamed European authorities’ restrictions on 2019 dividend payments for losing it €184m in its equities business, when it released its first quarter results on Tuesday. However, in debt capital markets and fixed income, currencies and commodities (FICC) it was a more positive picture, as the bank took advantage of a surge in debt origination and electronic trading.
