HVB reports 2009 profits
by Richard Kilner
Story link: HVB reports 2009 profits
HypoVereinsbank has released its financial results for the full year 2009.
The group saw total revenues leap up to €6.9bn, a rise of 74% on the previous year.
The firm also made pre-tax profits of €1.27bn, a rise of almost €1.9bn on 2008, primarily driven by a strong €3bn resurgence in net trading income.
At the same time, [...]
Sberbank reports rising profits in 2010
by Richard Kilner
Story link: Sberbank reports rising profits in 2010
Sberbank, the Russian banking giant, has reported its financial performance results for the first two months of the year.
The bank saw pre-provisions operating income decline by 15.1%, though net interest income and net fee and commission income were both up, by 8.9% and 11.1% respectively.
Operating expenses also rose, up by 7.8% compared to the same [...]
Scottish Widows Bank sees profits rise by 14%
by Richard Kilner
Story link: Scottish Widows Bank sees profits rise by 14%
Internet and telephone based mortgage and deposits bank Scottish Widows Bank has announced its annual financial results for 2009.
The firm saw pre-tax profits rise by 14% compared to 2008, and recorded profits of £38.2m.
Total customer deposits rose significantly for the year, up to £3.8bn (a rise of £1.1bn or 40%) thanks to the firm introducing [...]
Lehman report criticises executives and auditors
by Gill Montia
Story link: Lehman report criticises executives and auditors
The collapse of Lehman Brothers is the subject of a newly released report that severely criticises senior executives at the bank along with its auditor, Ernst & Young.
The report was ordered by a US court and it author, bankruptcy specialist Anton Valkulas, concludes that for several weeks before filing for bankruptcy protection, Lehman Brothers was [...]
Northern Rock reports falling losses in 2009
by Richard Kilner
Story link: Northern Rock reports falling losses in 2009
State-owned bank Northern Rock has seen a substantial reduction in its annual losses, the BBC has reported.
The bank lost £257.4m in 2009, down from £1.36bn the previous year, with underlying losses (excluding one-off gains) of £383m.
It also means that Northern Rock has done better than 2007, when it incurred losses of £585m.
The bank was amongst [...]
FSA holds fire on enhanced liquidity regime
by Gill Montia
Story link: FSA holds fire on enhanced liquidity regime
The Financial Services Authority (FSA) is holding fire on its enhanced liquidity regime, which aims to ensure financial firms’ capital buffers reflect the lessons of the credit crisis.
The details of the regime were published in October 2009, but the regulator says economic recovery needs to be assured before they can be implemented, given that all [...]
S&L profits increase by 118%
by Richard Kilner
Story link: S&L profits increase by 118%
The mortgage arm of the KCB (Kenya Commercial Bank), S&L, has seen its pre-tax profits skyrocket by 118% to achieve 2009 profits of Ksh1.015bn, up from 2008’s pre-tax profit of Ksh.465m.
Total asset rose from Ksh11.5bn to Ksh.19.2bn, with operating expenses declining by 10%, year-on-year.
Mortgage Division Director Caroline Kariuki, formerly MD of S&L, has cited a [...]
China Bank sees annual profits up 42.5%
by Richard Kilner
Story link: China Bank sees annual profits up 42.5%
China Banking Corporation (China Bank) has announced it made net income of P4.03bn in 2009, a surge in profits of 42.5% on 2008 when the firm made P2.83bn.
Return on equity rose from 11.98% in 2008 to 15.49% in 2009, with return on assets up from 1.53% to 1.84%.
China Bank also saw revenue up 17.8% to [...]
Standard Bank announces annual results
by Richard Kilner
Story link: Standard Bank announces annual results
Standard Bank Group has reported its financial results for 2009.
Normalised headline earnings declined by 17% on 2008, from RB14.1bn to R11.7bn, with normalised headline earnings per share down 20% to 757 cents.
The firm achieved a return on equity of 13.6%, down from 18.2% in 2008.
The decline in earnings has been primarily attributed to the global [...]
Standard Chartered sees record income in 2009
by Richard Kilner
Story link: Standard Chartered sees record income in 2009
Standard Chartered Bank has reported it enjoyed a record level of income in 2009, at US$15.18bn.
The firm’s annual income has risen by 9%, and is the seventh consecutive year of record income being achieved.
In the first half of the year the firm also achieved record income, of US$7.96bn, a rise of 14%.
The bank also saw [...]
HSBC’s 2009 profit down 24% to $7.1bn
by Gill Montia
Story link: HSBC’s 2009 profit down 24% to $7.1bn
HSBC has reported a 24% fall in pre-tax profit, to $7.1 billion, for 2009.
However, underlying pre-tax profit rose 56% to $13.3 billion, the gap pertaining to impairments at the group’s North American operations, although the bank points out that impairment charges at its ill-fated US consumer finance business, now in run off, fell by $1.6 [...]
Lloyds posts £6.3bn operating loss
by Gill Montia
Story link: Lloyds posts £6.3bn operating loss
Lloyds Banking Group posted an operating loss of £6.3 billion for 2009, compared with a business loss of £6.7 billion in 2008.
Total impairments at the 42% state-owned bank totalled almost £24 billion, up from £15 billion a year earlier.
However, second-half impairments were 21% down on the first six months of 2009 and the group said [...]
Blackstone reports annual profits
by Richard Kilner
Story link: Blackstone reports annual profits
The Blackstone Group has announced that it made net income of $703m in 2009, a substantial turn around from the $1.2bn loss incurred the previous year.
In the fourth quarter the firm made net income of $329m, up from $764m loss in Q4 2008, and from the $275m net income made during Q3 2009.
The firm has [...]
KCB pre-tax profits up 5%
by Richard Kilner
Story link: KCB pre-tax profits up 5%
The Kenya Commercial Bank (KCB) has announced it enjoyed a modest rise in pre-tax profits in 2009.
The KCB made KShs6.3bn in 2009, up from KSh6bn in 2008, although measuring a much smaller annual increase with growth of 5% versus a huge 42% growth recorded from 2007 to 2008.
One of the primary drivers of growth was [...]
BPCE reveals annual results
by Richard Kilner
Story link: BPCE reveals annual results
French banking giant BPCE has announced its financial results for 2009.
The firm saw a rise in net banking income of 9% to €21bn, €19bn of which was delivered by core business lines.
This marks a modest rise on the €10bn net banking income achieved in the first half of the year.
For the year net income attributable [...]
Crédit Agricole sees rising profits
by Richard Kilner
Story link: Crédit Agricole sees rising profits
French bank Crédit Agricole S.A. has announced its financial results for 2009 and Q4.
The firm recorded net income, group share, of €1.125bn for the year, a modest rise on the €1.024bn of 2008 but still far behind the pre-financial crisis annual income of €4bn made in 2007.
In addition, the bank made €433m net income in [...]
RBS posts £3.6bn pre-tax loss
by Gill Montia
Story link: RBS posts £3.6bn pre-tax loss
Royal Bank of Scotland (RBS) has announced a pre-tax loss of £3.6 billion for 2009.
The result was better than expected by the City and compares with a pre-tax loss of £24.3 billion for 2008 (a UK corporate record at the time).
Impairment charges rose sharply last year, to £13.9 billion, compared with £7.4 billion in [...]
Landesbank Berlin sees surge in annual earnings
by Richard Kilner
Story link: Landesbank Berlin sees surge in annual earnings
Landesbank Berlin Holding AG has reported its provisional financial results for 2009.
The firm recorded pre-tax operating earnings of €339, hugely improved from 2008’s marginal profit of €9m and back to pre-financial crisis levels.
Provisional earnings after taxes were €272m.
Chief Executive Officer Dr. Johannes Evers expressed satisfaction with the firm’s performance but warned that the financial crisis [...]
Commerzbank sees €4.5bn loss in 2009
by Richard Kilner
Story link: Commerzbank sees €4.5bn loss in 2009
German financial institution Commerzbank has released its financial results for 2009.
The firm saw a consolidated loss of €4.5bn, compared to a €6.5bn loss in 2008.
This loss included goodwill impairments totalling €768m, and the integration costs relating to the acquisition of Dresdner Bank which amount to €1.9bn.
In the fourth quarter of 2009 Commerzbank lost €1.9bn, an [...]
Emporiki reports 2009 results
by Richard Kilner
Story link: Emporiki reports 2009 results
Greek bank Emporiki has announced its annual results for 2009.
Net banking income rose 5% on 2008 to €751m, with gross operating income surging by 41.4% to €104.2m.
However, net losses hit €582.6m, a figure attributed to Greece’s worsening macroeconomic environment and realigning risk management according to Crédit Agricole standards.
The cost of risk in the final quarter [...]
