by bondevalue | May 7, 2021 | Financial Institutions, Perpetual Bonds
Banco Santander raised $1bn via a non-cumulative Perpetual non-call 6Y (PerpNC6) preferred Tier 1s at a yield of 4.75%, 25bp inside initial guidance of 5% area. The issuance has expected ratings of Ba1 and are callable from (including) November 12, 2026 to (including)...
by bondevalue | May 7, 2021 | Financial Institutions, Singapore Dollar Bonds
OCBC reported net profits at a high of S$1.5bn ($1.1bn), up 115% over 1Q2020 numbers. Profits were helped by a 66% YoY increase in Banking operations and a 59% YoY increase in Wealth Management to S$1.13bn ($850mn) and S$1.21bn ($910mn). Net interest income stayed...
by bondevalue | May 3, 2021 | Financial Institutions
Barclays reported a record quarterly group profit before tax in 1Q2021 of £2.4bn ($2.8bn) vs. £900mn ($1.2bn) in the same period last year. Profits were benefitted by a significant decrease in credit impairment charges of just £55mn ($76mn) vs. £2.1bn ($2.9bn)n in the...
by bondevalue | May 2, 2021 | Financial Institutions
BNP Paribas reported first-quarter net income of €1.8bn ($2.18bn), up 38% YoY. Its investment banking division reported strong revenue growth, up 25% YoY while its FICC revenues dropped 16%. “It’s a quarter where basically all lights are green”, CFO Lars Machenil...
by bondevalue | Apr 30, 2021 | Financial Institutions, Investment Grade Bonds
Standard Chartered reported its 1Q2021 results with net profits more than doubling to $1.1bn vs. $517mn a year ago. Like its peers, profits were helped by a sharp reduction in credit impairments of $20mn vs. $936mn YoY. Wealth Management reported a record $641mn...
by bondevalue | Apr 30, 2021 | China, Financial Institutions
China’s large state-owned banks reported earnings in-line with estimates: China Construction Bank (CCB) led profit growth, up 2.8% YoY, reporting a net income of CNY 83.1bn ($12.9bn). Impairment losses rose to CNY 52.3bn ($8.1bn). The lender reported an NPL ratio of...
