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...“Look back at the US banks [and] how they got into their position....
...It has also ended all correspondent relationships with other Russian banks....
...“Banks need high yield and sustainable yield,” said Antonio Roman, portfolio manager of the Axiom European Banks Equity fund....
...The investors owned additional tier 1 bonds, or AT1s, a form of bank debt that can be converted into equity or written down when a bank runs into trouble....
...Deutsche Bank has since the summer been struggling with the fallout of the botched IT migration that saw clients locked out of accounts and internal workflows at the bank break down....
...UBS began removing Credit Suisse’s brand in New York in August, replacing signs at the collapsed bank’s US headquarters....
...Three years later the bank collapsed....
...No such plan existed for Deutsche Bank, which is rather too large for most other banks to digest in a hurry....
...Deutsche’s private and corporate bank both suffered falling revenue....
...Austria’s Raiffeisen Bank International said it expected to be ordered by the European Central Bank to speed up its withdrawal from Russia, in a move that could derail talks to sell its highly profitable...
...But this year that will rise to SFr20mn, the bank said....
...The brunt of the cuts affected Karl von Rohr, the former head of Deutsche’s private bank who left the bank last year after his contract was not extended....
...But less than a year later, under a new chair and chief executive, the bank underwent another restructuring....
...At the time, Credit Suisse said a change to the contract would lead to a $600mn loss for the bank. But on Wednesday, UBS confirmed it would be a $900mn loss....
...During his speech at the bank’s AGM, UBS chief executive Sergio Ermotti said he agreed with Kelleher’s view on capital needs and said it was a “source of great concern” that the bank was perceived to enjoy...
...In a report sent to Strobl by the board of the bank’s Russian subsidiary, it said the adverts (erroneously) included boilerplate information about the bank and its ambitions there....
...The capital returns have helped send the shares of European banks to a six-year high. The Stoxx Europe 600 Banks index is up 34 per cent over the past year....
...Instead, the regulator in its report referenced anonymised companies “[Company A] Bank AG” and “[Company A] Capital (UK) Limited”....
...The bank generated $40.8bn of revenues last year, up from $34.6bn in 2022....
...Szarkowski built the collection from 1991 for PaineWebber bank, which was later acquired by UBS....
...The deal would allow the bank to repatriate earnings from Russia....
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...The US Federal Reserve fined Deutsche Bank $186mn last year for a “material failure” to fix “unsafe and unsound banking practices” that the bank had promised to resolve as long ago as 2015....
...Booij will leave his role as chief executive for Europe at ABN Amro Clearing Bank, a division of the Dutch bank that connects trading firms and hedge funds with exchanges such as Eurex....
...For evidence, look no further than European banks, which trade at an average price to earnings of around 6 times....
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