After BNP, Is Commerzbank Next on the Fine Line?
July 8 (Bloomberg) –- “Money Clip” Host Adam Johnson recaps a tough news day for a number of companies. (Source: Bloomberg)
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The Challenges Facing Europe's Banks
24:48 - Record-low interest rates and wild market swings are eroding profit at Europe’s banks, with no end in sight. From UBS Group AG’s wealth-management unit to Commerzbank AG’s consumer-lending business, income is shrinking as margins get squeezed and clients avoid trading. Executives at the banks, two of Europe’s largest, warned not to expect an improvement soon. Five large European lenders that reported results on Tuesday and Wednesday -- UBS, Commerzbank, BNP Paribas SA, HSBC Holdings Plc and Societe Generale -- have a combined 19 operating divisions with businesses ranging from French credit cards to U.S. stock trading. Revenue fell in 17 of them. Mint Partners Strategist Bill Blain discusses the outlook for banking with "On the Move" host Guy Johnson.