by Megha Malhotra | Feb 11, 2022 | Banks
Swiss banking major Credit Suisse reported a CHF 2bn ($2.2bn) net loss in its Q4 results vs. a CHF 353mn ($381mn) loss in Q4 2020. Net revenues were down 12% YoY to CHF 4.6bn ($5bn) “impacted by a reduced risk appetite across the Group in 2021, a negative impact...
by Megha Malhotra | Feb 11, 2022 | Financial News
Credit Agricole Group reported a 4.4x rise in its Q4 net income to €2.35bn ($2.7bn) vs. €530mn ($604mn) a year ago. This was helped by revenues increasing 9.6% to €9.5bn ($10.8bn) from last year’s €8.8bn ($10bn) and its underlying cost of risk down to down to...
by Megha Malhotra | Feb 11, 2022 | Financial News
Vodafone rejected a preliminary offer for its Italian business from Iliad and Apax Partners worth more than €11bn ($12.5bn). Vodafone said that the offers were not in the best interest of its shareholders, adding that it was pursuing several value accretive deals....
by Megha Malhotra | Feb 11, 2022 | Financial News
Activist investor Quarz Capital Management has opposed to terms of the proposed S$4.2bn ($3.1bn) merger of Mapletree North Asia Commercial Trust (MNACT) and Mapletree Commercial Trust (MCT), stating that the deal undervalues MNACT. This comes over a month after the...
by Megha Malhotra | Feb 11, 2022 | Banks
Brazil’s largest private lender Itau Unibanco Holdings SA reported stronger-than-expected Q4 earnings with recurring net income, ex one-off items, rising 32.9% YoY to BRL 7.16bn ($1.36bn), above Refinitiv consensus estimates of BRL 6.83bn ($1.30bn). The earnings...
