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Top related persons:
Andrew Coombs - 3 “ - 2 ” - 2 London CNN — - 1 Colm Kelleher - 1 Kelleher - 1 Pascal Mora - 1 Karin Keller - 1
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Credit Suisse - 2 UBS - 2 Citi - 2 London CNN - 1 Bloomberg - 1 Getty - 1 RBC Capital Markets - 1 London CNN — Staff - 1

Search resuls for: "Andrew Coombs"


5 mentions found


☆ Switzerland says UBS may need more cash. The bank is fuming
  + stars: | 2024-04-24 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +4 min
Now, the giant Swiss lender is hitting back, saying its finances are robust and warning that the proposal could harm Switzerland’s standing as a global financial center. “There can be no regulatory solution for a broken business model,” he continued, referring to Credit Suisse. UBS bought its stricken rival last March in a government-orchestrated rescue aimed at preventing a global financial crisis. It was not too-low capital requirements that forced Credit Suisse into the historic weekend rescue,” he added. But that leaves the stock more vulnerable to declines as a result of “execution risk in the Credit Suisse integration,” suggested Citi analyst Andrew Coombs.
Persons: London CNN —, Colm Kelleher, “, ”, Kelleher, Pascal Mora, Karin Keller, Keller Sutter, Anke, Andrew Coombs, ” Kelleher, Sergio Ermotti’s, Ermotti Organizations: London CNN, Credit Suisse, UBS, Bloomberg, Getty, RBC Capital Markets, Citi, Reuters Locations: Swiss, Switzerland, Europe
☆ UK’s Metro Bank and Lloyds join Barclays in announcing job cuts weeks before Christmas
  + stars: | 2023-11-30 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +4 min
London CNN —Staff at UK banks face layoffs in the lead-up to Christmas in what one labor union called “disgraceful” timing. Struggling Metro Bank said Thursday that it expected to slash headcount by 20% as part of efforts to save £50 million ($63 million) a year. But Chris Beauchamp, chief market analyst at stockbroker IG, said becoming more like the big banks Metro Bank sought to displace would “sorely diminish” the lender’s appeal. “Far from being a serious challenger to the UK’s established banks, Metro continues to flounder,” he wrote in a note. Metro Bank also said new stock issued as part of an emergency equity raise last month to shore up its finances would begin trading Thursday.
Persons: “, Daniel Frumkin, Chris Beauchamp, ”, Charles Schwab, Dominic Hook, upskilling, Andrew Coombs, Jaime Gilinski Bacal Organizations: London CNN — Staff, Metro Bank, Lloyds, Barclays, Metro, Citigroup, Vice Media, Continental, Unite, ” Citi, Bank of England Locations: United Kingdom
☆ UBS ends state guarantee granted over Credit Suisse rescue
  + stars: | 2023-08-11 | by ( Noele Illien | ) www.reuters.com   time to read: +3 min
The Swiss government provided 9 billion francs ($10.3 billion) of loss protection guarantees to UBS as part of the state-sponsored takeover of Credit Suisse earlier this year. UBS also said that Credit Suisse had fully repaid an Emergency Liquidity Assistance Plus (ELA+) loan of 50 billion francs to the SNB. "The early voluntary repayment could potentially also help in other matters, such as negotiating the retention of the Credit Suisse Swiss business, in our view," Citi analyst Andrew Coombs said. Credit Suisse and UBS also borrowed 168 billion francs from the SNB in various emergency liquidity schemes to ease the takeover. Government help included a guarantee of up to 9 billion francs for losses UBS might incur from the sale of Credit Suisse assets, beyond 5 billion francs that UBS agreed to cover itself.
Persons: Arnd, ELA, Andreas Venditti, Andrew Coombs, Switzerland's, Noele, Jacqueline Wong, Mark Potter Organizations: Swiss, UBS, REUTERS, Suisse, Credit Suisse, Swiss National Bank, Confederation, Credit Suisse Swiss, Citi, Reuters, Thomson Locations: Zurich, ZURICH, Swiss
☆ Citi upgrades this financial giant, sees sharp gains ahead after banking crisis
  + stars: | 2023-05-04 | by ( Sarah Min | ) www.cnbc.com   time to read: +2 min
It's time to buy Deutsche Bank shares as the beaten-down bank shows signs of a strong recovery, according to Citi. Analyst Andrew Coombs upgraded Deutsche Bank to buy/high risk from neutral/high risk, saying the stock has further upside after the firm's stronger-than-expected first quarter results . "Deutsche Bank is one of the most de-rated banks YTD, yet the 1Q23 results demonstrated potential for further consensus earnings upgrades. In addition the company provided additional reassurance on the funding & liquidity position of the bank and on US CRE exposure," Coombs wrote. DB 1D mountain Deutsche Bank shares 1-day Deutsche Bank last week reported a first-quarter net profit of 1.158 billion euros, or around $1.28 billion.
☆ Citi says Europe's banks are unlikely to face SVB-like issues and names 3 top picks
  + stars: | 2023-03-14 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +2 min
European banks are unlikely to experience the issues seen at U.S.-based Silicon Valley Bank , according to analysts at investment bank Citi, who named their three top stocks in the sector. 12, Citi analysts said there is "very limited read-across" to the European banking sector due to differences in reserve capital and regulatory framework. "In Europe we are not aware of any banks with such high deposit concentration risk," the Citi analysts added. European bank stocks to buy Citi analysts are overweight European banks, and said BBVA , Lloyds , Intesa were their "top picks." This means that European banks have not experienced a large drawdown in capital from a change in bond values, according to the analysts.
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