February 8 (More Bank) – UBI Banca UBI.MI reported
Friday a drop of 12% of its net banking income at
fourth quarter due in particular to a provision of 253.5
millions of euros spent on loan write-downs, which
down its stock price by more than 2%.
Over the year as a whole, gross operating profit
of the fifth largest bank in Italy stood at 1.07 billion
euros ($ 1.2 billion), down 1.7% from
forecasts, while the cost / income ratio "relatively
high "stood at 69.5%, notes Luigi Tramontana, analyst
UBI said it sold € 1.85 billion of receivables
doubtful last year and recovered loans amounting to
total of 850 million euros.
Main quarterly results of other companies in the
* UNICREDIT FINISHED 2018 IN SHAPE
February 7 – UniCredit IDRC.MI completed 2018 on a
positive momentum with net profit in the fourth quarter
exceeds expectations and further lightening the weight of its
Excluding the exceptional tax element related to a change in
accounting standard, the Italian bank posted a profit on Thursday
quarterly amount of EUR 840 million significantly higher than the 693
million expected by analysts according to a consensus provided
by the establishment itself.
UniCredit lowered its bad debt ratio on the
quarter at 7.7%, the best in Italy, and confirmed
its objective of a net profit of 4.7 billion euros in 2019.
* SOCGEN LOWERES ITS OBJECTIVES FOR MARKETS
February 7 – Societe Generale SOGN.PA announced Thursday
fourth quarter results broadly in line with
market expectations and decided in turn to revise downward
its financial objectives for 2020 with a strengthening of
savings and disposals.
The third French bank by capitalization
stockbroker explains wanting to adapt its roadmap
the persistence of a low interest rate environment at
within the euro area and the structural difficulties in
market activities, especially in rates, credit and foreign exchange.
It thus prevents this rate environment from becoming
will result in a shortfall of about 500 million euros
on its revenues in 2020. The bank also plans to increase these
disposals of assets by 2020 to strengthen its solvency
* COMMISSIONS AND LOANS DOPENT THE BENEFIT OF ING
February 6 – ING INGA.AS, the leading Dutch group of
financial services, reported Wednesday a profit
taxable current better than expected, of 1.69 billion euros,
fourth quarter, due to an increase in
commissions and net interest income.
Analysts polled by More Bank were waiting for him in
average to 1.57 billion euros over the three months ended end
December, after 1.56 billion euros a year ago.
The group, which was fined in September
EUR 775 million for failures in terms of fight
against money laundering, said that he had conquered new
customers and recorded a net growth in its portfolio
loans of 3.2 billion euros. The net interest margin is
1.56%, compared with 1.58% in the fourth quarter of 2017,
but the cost / income ratio has improved to move from
59.9% to 57.1%.
* BNP PARIBAS REVEALS ITS OBJECTIVES AFTER A LOW T4
February 6 – BNP Paribas BNPP.PA reviewed Wednesday at the
down some of its financial targets for 2020 after a
fourth quarter of 2018 leaded by a fall in revenues in
The second largest bank in the euro zone by capitalization
The stock market now expects for 2020 a return on its
own funds (ROE) of 9.5% against an initial target of 10%.
It has also lowered its growth target
revenues over the period 2016-2020.
* LAZARD DOES BETTER THAN EXPECTED IN Q4 WITH M & A
February 5 – The investment bank Lazard LAZ.N has published
Tuesday a profit in the fourth quarter higher than expected,
the strong performance recorded in the field of mergers and
acquisitions offset the decline in revenues from its
The revenue generated by M & A consulting has increased by
19% to 398.6 million dollars (348.7 million euros) on the
Adjusted net income was 118.9 million
dollars, 94 cents per share, against 148.1 million ($ 1.12
per share) a year earlier. It is higher than the average consensus
92 cents per share, according to IBES data for Refinitiv.
* INTESA HOLDS ITS DIVIDEND PROMISE
February 5 – Intesa Sanpaolo ISP.MI, largest bank of
Italian retail, has honored its commitment to pay 3,45
billions of euros in dividends to its shareholders, a rate
85%, after reporting on Tuesday a
net profit up in 2018 to 4.05 billion euros against
3.8 billion in 2017, despite a difficult end to the year.
The fourth quarter was marked by a further decline
5% of net interest income, due to weak commissions
from asset management and insurance and from a net
increase in staff costs, three elements having
resulted in a contraction of 17% in operating profit
compared to the previous quarter.
The CET 1 capital ratio in full application
("fully-loaded") remained broadly stable at 13.6%.
* DANSKE BANK OFFERS A DIVIDEND LOW THAN EXPECTED
February 1st Danske Bank DANSKE.CO, entangled in a
money laundering scandal, proposes a dividend of 8.5
Danish kroner (€ 1.14) per share for the financial year
2018, against 8.64 crowns expected by the market according to a
More Bank consensus.
The Danish banking group – which launched in December a
second warning on its 2018 earnings, leaving few
room for surprises when announcing the results – table
for 2019 on a net profit of between 14 and 16 billion
of crowns (consensus 15.04 billion), after that of 15.00
billion realized in 2018.
Danske also announced that she would devote up to two
billion euros to intensify its efforts to fight
against money laundering. The title has opened up
* DEUTSCHE BANK RENEWS WITH BENEFIT IN 2018
February 1st – Deutsche Bank DBKGn.DE shows as planned
a profit on the 2018 financial year, a first in four years,
despite a net loss of 409 million euros in the fourth
quarter, stronger than expected in view of market consensus
which was 268 million.
The largest banking group in Germany, which is the subject of
recurring speculations on a merger with Commerzbank
CBKG.DE, was penalized in the fourth quarter by the
persistent weakness in its trading activities – such as
many other banks due to market volatility
end of the year – and its income from bond trading
Net profit for the year stands at 341 million
euros, compared to a net loss of 735 million in 2017. The
CET 1 ratio was 13.6% at the end of December 2018.
* SANTANDER SUPPORTED BY BRAZIL, SENTENCE IN SPAIN
January 30 – Banco Santander SAN.MC reported on Wednesday
an increase in net income in the fourth quarter and
the whole year thanks to a strong performance
Brazil, its main market, and an increase in net income
interest rate, which offset an 18% drop in
"The trend in activity income seems positive but
it is partially offset by higher costs,
and if the size of the balance sheet has increased, it is slightly
lower than our estimate, "writes Jefferies in a note,
adding that the quarterly net profit is 8% higher than the
Santander's quarterly net profit rose 1.4%
Brazil, allowing the Spanish bank to release a total of
net profit up 4% in the fourth quarter compared
in the previous quarter and 28% over 2018 to 7.81 billion
euros, compared with the 7.83 billion euros expected by
* UBS – T1 VU DIFFICULT AFTER A T4 BELOW EXPECTATIONS
January 22 – UBS UBSG.S reported Tuesday a further decline
marked than expected of its taxable profit adjusted to the fourth
quarter, both under a 22% decline in
contribution of wealth management activities – the flagship activity
of the first Swiss bank – but also the decline in results
of the investment bank.
The institution, which raised its dividend by five cents
at 0.70 Swiss francs and said he would buy back up to a
billion of its own shares, adds that the
mixed sentiment of investors would continue to weigh on
its results in the first quarter of 2019.
"The lack of progress in resolving tensions
geopolitics, rising protectionism, disputes
and increased volatility, which weighed on the
investor sentiment and confidence (…) in particular
in the fourth quarter, should affect customer activity in the
first quarter of 2019 ", continues UBS.
* In the US, the major Wall Street banks have
suffered in the fourth quarter of the strong and sudden
volatility in the financial markets, which notably
plunge the income from their bond trading activities.
Despite this reason for disappointment, investors have also
retained reassuring elements on the global dynamics of the
American banking sector, notably at Bank of America
BAC.N and Goldman Sachs GS.N.