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...Investment banks have yet to be appointed to work on the potential transaction, of which the timeframe remains under consideration....
...Still, Thwaite would do well to shout a bit more about the bank’s successes. Start with last year’s healthy performance. Return on tangible equity finished at nearly 18 per cent....
...The group has revved up its activity with a flurry of large deals, including the acquisitions of a utility company in Indiana, the dog walking app Rover and a large portfolio of bank loans from US financial...
...In Indonesia, CreditSights noted in February that lenders Bank Mandiri and Bank Negara Indonesia “delivered a strong performance” last year, though both faced more NIM pressure....
...Also, Citi’s de-risking seems at least partly shown by the best-in-class performance of its bonds during 2023, which now trade in line w/the other big 6 banks and better than regionals....
...The seven largest tech groups — Microsoft, Apple, Amazon, Alphabet, Meta, Tesla and Nvidia — drove most of last year’s stock market gains as traders bet that they would be winners from the growth of AI....
...earnings report earlier this week....
...Add to that the lacklustre performance of the region’s listed banks and it is hard to believe that fintechs and neobanks are well placed to lead an IPO revival....
...Many believe that the slightly better than feared performance of regional economies means a more painful recession can be avoided, while falling inflation will allow central banks to cut interest rates,...
...Recessions are terrible for banks. A rapid fall in recession expectations also helps explain the great performance of semiconductor stocks in recent months....
...Microsoft and Alphabet report earnings this afternoon; Apple, Amazon and Meta follow on Thursday....
...Executive search and advisory group Fredriks has named former Warburg Pincus Japan CEO Tetsuya Fukagawa to lead its operations in the region....
...Some have labelled Khan’s performance as a “three-year job interview”....
...Frank Slootman has stepped down as chief executive of software giant Snowflake, a move announced alongside weaker than forecast earnings....
...The Japanese bank, which reports quarterly earnings on Friday, is grappling with other problems in China....
...In terms of investment “factors”, quality — stocks with a high return on equity, stable earnings growth and low leverage — ruled the roost, with a record $36bn of net buying....
...Oyesanya was previously running Citi’s law firm group focused on the New York region and joined JPMorgan in July to run its own law firm banking team....
...Banks Third-quarter earnings season starts in earnest next week, when the big banks start to report. Expectations for the group appear to be low and falling....
...That is grounded in the “one country, two systems” model, which lets the special administrative region operate on different rules from mainland China....
...“The performance of the bank stocks right now is reflecting concerns that are a little bit more about the next couple of quarters,” said John McDonald, senior analyst for large-cap banks at Autonomous Research...
...Banks have performed terribly, as one would expect in a slowdown, but have been offset by strong performance by insurers. There are some bothersome anomalies in the sector table, of course....
...Others are adopting a tilt towards “quality” stocks, with stable earnings and a high return on equity....
...The Canadian bank estimates that net issuance in 2024-2025 will surpass pandemic-era levels....
...Here’s what else I will be keeping tabs on today: Earnings: Pharmacy group Walgreens Boots and consumer packaged food company ConAgra Brands report results....
...bank, who will also join BlackRock....
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