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CEO seeks to ease regulatory hit; merger doubles French business.
Published February 2017 euromoney.com
France’s low-growth and highly consolidated banking industry might appear rigid, but jealousies and opportunism are keeping idiosyncrasies alive and kicking.
Euromoney February 2017
Frédéric Oudéa has been CEO of Société Générale for longer than any other current head of a leading European bank. His success in bringing the bank through the financial crisis and its aftermath is widely acknowledged. But can he articulate a convincing vision of SocGen’s future?
Published January 2017 euromoney.com
Italy could be clawing itself out of a pit of worry about its banks, according to the latest Euromoney Bank Risk results.
SocGen CEO and European Banking Federation head says US-style continental franchises can emerge, but only after more integration of banking and capital markets has paved the way.
UniCredit CEO Jean-Pierre Mustier has unveiled his new strategic plan for the bank. At its heart is a €13 billion rights issue. But look deeper and Mustier is at pains to stress UniCredit’s European, rather than Italian, credentials. He’ll need to convince shareholders that this time the bank has a real prospect of breaking free of the country’s bad debt troubles.
Euromoney January 2017
UK and US economic policy has changed tone since last year’s electoral rebellions. Markets should jump at the chance to buy into higher-yielding real assets, but politicians will struggle to make reality match their rhetoric on infrastructure investment
Published December 2016 euromoney.com
The bank hopes a deal to offload bad debts to Fortress and Pimco will show investors that it is putting its NPL issues behind it
A new chairman, alongside a recently installed CEO, could help the Spanish bank clean up its troubled balance sheet.
Bankia privatization looms; caja independence in doubt as IPOs lag.
Euromoney December 2016
Hedge funds gain security over crown jewel; Isolux much quicker to reach agreement.
Even after a third capital raising in June, the difficulty funding Banco Popular’s real estate spin-off shows how much uncertainty remains in Spanish banking. As new CEO Pedro Larena attempts another rescue, a sale could be the only answer. But any rescue-by-merger will need sweeteners for the acquirer.
The shortcomings of German banking have steered it into a shipping crisis on a scale that is only now being appreciated. Shipping loans are already pulling some of the state-owned wholesale banks under water, making previous failures to properly remodel the sector even more obvious.
Euromoney November 2016
The decline of Deutsche Bank may be grabbing the headlines, but the woes of German banking run far deeper. Low interest rates and tighter regulation are hurting all the private-sector banks. That simply adds to concerns that Germany’s banks cannot, or perhaps in politicians’ eyes should not, be profit-hungry institutions. But are the statebacked banks that still dominate German banking reaching a limit on their ability to fund themselves? And does that mean that the famed three-pillar system is heading for disaster?
Ultra-low rates and higher regulatory costs are thinning German banks’ already meagre margins, creating dangers of systemic importance.
The younger and energetic Mohammed Al-Jadaan has a record of transformation.
Published November 2016 euromoney.com
Exits structured products businesses; splits Mittelstandsbank between corporates and retail division.
Former BAML and JPM banker takes over troubled bank; share-price fall seen scuppering €5 billion rights issue.
Published October 2016 euromoney.com
Agency fears growth outlook ahead of review; ECB liquidity support in peril.
Regional stakes join FMO and Norfund assets; indirect, lower ownership reduces liability.
Euromoney September 2016