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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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Currency markets helped revenues in HSBC’s global banking and markets division in the first quarter. But along with the rest of the group, it had to take big losses for credit exposures thanks to the coronavirus pandemic. -
UBS generated almost as much profit before tax from its global banking and markets operations in the first quarter as it did across all of last year, it revealed on Tuesday. This was despite taking credit losses and marking down exposures. The bank benefitted from a good turnout in FX and rates and its heavy involvement in a shrunken M&A fee pool.
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Deutsche Bank’s additional tier ones surged higher in value this week, after the German lender reassured the market with positive guidance on its first quarter earnings.
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Firms can spend vast amounts of time window-dressing their balance sheets to look the best they possibly can within the limits of reporting regulations. Within those limits, everything goes.
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Credit Suisse took a $294m hit from marking leveraged finance underwriting exposure to market in the first quarter, its results on Thursday showed, as March’s volatility and jump in credit spreads took their toll.
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Svenska Handelsbanken and Swedbank looked to be as transparent as possible when laying out their assumptions for loan losses this week, as part of an effort to reassure the market about their resilience in the face of the coronavirus crisis.
