EEMEA: PrivatBank suffers legal setback in bid to recover missing billions
Efforts to recover billions of dollars allegedly stolen from Ukraine’s PrivatBank suffered a setback on December 4 when a judge in London threw out a $1.9 billion fraud claim against the bank’s former owners. PrivatBank was taken over by the...
Get ready for robo-advisory winners and losers
Global equities are displaying all the signs of being in a downturn. Indeed, in the words of Bank of America Merrill Lynch’s research analysts in December, it’s “a big nasty bear market”. And in a bear market, who do you...
Santander’s second LatAm engine
While profits in the UK slipped by 13% in the first three months of the year, the bank beat estimates thanks largely to the Brazilian bank’s latest blockbuster result. In the third quarter, Santander’s Brazilian business grew earnings by 20%...
Mexican banks lose some of their lustre
Mexico’s banks are facing a harder 2019 than they were expecting just a couple of months ago as the fallout from recent decisions from the country’s new president is digested by the markets. Since Andrés Manuel López Obrador (often called...
Radical plans to address bond investors’ liquidity fears
Amid rising bond-market volatility, frequent borrowers are finally considering how they can contribute to greater liquidity, ease investors’ long-standing fears of being trapped in losing positions as bond prices gap down and avoid paying an illiquidity premium for new issues....
That was the year that was
“ Well, that was great, wasn’t it? Yes, there was the geopolitics – trade and protectionism, Brexit, Italy, Russia, China, France (a late addition that one and somewhat surprisingly, perhaps, as it turned out that an investment banker would not...
Bank M&A: No merger for ‘three-to-four years’, says UniCredit’s Mustier
UniCredit’s chief executive Jean Pierre Mustier has dismissed the possibility of a merger between UniCredit and another bank until late 2021 at the earliest. Although committed to building a pan-European commercial bank, Mustier tells Euromoney there can be “no non-organic...
Bank earnings exgraphaganza: Thiam thinks Credit Suisse is an outlier – is it?
We’ve reached the end of the results season, so are the Europeans making any headway at all against their US cousins? Well, it’s certainly not all bad news. Credit Suisse chief executive Tidjane Thiam, for instance, was able to pluck...
ECB group asks legislators for more time on Ester
An alternative to Euribor, should a revamp of the benchmark to make it compliant with European regulation not be successful, can’t be done on time, according to recently published minutes from a working group formed by the European Central Bank....
Squaring the circle
The story of small business lender Funding Circle’s IPO in October was in some ways a surprise – and in other ways entirely predictable. When the IPO was launched at the beginning of September there was feverish speculation that the...