Fitch Ratings says that UBS’s Q112 results show that the bank has made progress in implementing its more client-centric investment banking business model while maintaining its dominant global wealth management franchise. UBS’s Q112 results were broadly in line with Fitch’s expectations and have therefore no immediate impact on its ratings.
UBS’s adjusted pre-tax profit of CHF2.2bn for the quarter represents a significant improvement on Q411, but was down 10% on adjusted pre-tax profit in Q111. Like many of its peers, UBS benefited from improved market conditions compared with the very poor prevailing environment in Q411, notably in IB. It will take a longer period for the bank to convincingly demonstrate that its revamped IB business model will generate sustainable adequate returns.
The agency notes that the bank continued to strengthen capital ratios in the quarter. Stronger capitalisation together with a continued well-balanced earnings mix from the bank’s divisions could, over the medium term and all else being equal, be positive for the bank’s viability rating.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more