Commerzbank has been assigned a Senior Debt Rating of AA- (Double A minus). For 1999, Commerzbank’s consolidated pre-tax profits rose 10.6%. The increase in the bank’s after-tax income was more subdued, stemming from a higher tax charge (after an unusually low level in 1998). In 1999, the bank’s revenue stream benefited from sizable growth in net commission income and higher trading results, while growth in net interest income was modest. Within total commission income, the strongest areas of growth were in the underwriting and asset management businesses. In 1999, the bank was able to reduce loan loss provisions by 22% due to lower international provisions. Growth in operating expenses was quite high, stemming from greater personnel costs (particularly in investment banking) and surging information technology costs. In 1999, the bank’s Tier I ratio remained steady while the Total BIS ratio improved. For 1Q00, Commerzbank’s pre-tax profits rose 27% from 1Q99, reflecting continued strong growth in net commission income, moderately lower loan loss provisions, and higher trading profits. Overall, Commerzbank remains on a sound financial footing, but its strategic position in a consolidating European banking market remains a question.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.