Credit Suisse
April 24: Credit Suisse plunges to first-quarter loss of SFr2.15bn as writedowns on leveraged finance and structured products outweigh strong performance in private banking
European bank results
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The nadir for European losses?
European banks have already shot down expectations for their first-quarter results with a raft of profit warnings. But some analysts are arguing that the period will mark the nadir for the sector’s losses on US residential mortgage assets.
European banks report first-quarter earnings during April and May. Read FT.com’s news and analysis as each bank announces its earnings.
European banks face revenue fall
European investment banks are likely to see their M&A and capital markets revenues fall by at least 50 per cent this year, according to Morgan Stanley research
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Results diary
Deutsche Bank
April 29: Germany’s biggest lender reported a €141m net loss in its first quarter amid markets that were ‘the most difficult in recent memory’
BBVA
April 28: Net profits rose 14.9 per cent as growth in Latin America and corporate banking made up for a lending slowdown at home at home
Santander
April 29: First-quarter profits rose to €22bn as acquisitions and cost controls helped offset a sharp slowdown in lending and business activity in some markets
UBS
May 6: UBS posted a SFr11.54bn ($11bn, €7.1bn) pre-tax loss for the first quarter and announced another 2,600 jobs from its investment bank would be cut
Dresdner Bank
May 9: Dresdner Bank stayed in the red in the first quarter after writing down €845m on structured finance investments, keeping it in the spotlight as parent Allianz works to split it in two
UniCredit
May 7: Unicredit said it would be write down about €1bn in the holdings of its markets and investment banking division due to the impact of the global financial crisis
Société Générale
May 13: SocGen reported a 23.4 per cent fall in first-quarter net profit to €1bn although earnings came in above the average market forecast.
Fortis
May 13: Fortis said quarterly net profit fell 31 per cent to €808m, hurt by impairments on turmoil in financial markets that offset gains from its ABN Amro acquisition
BNP Paribas
May 14: France’s biggest listed bank, posted a 21 per cent fall in first-quarter net profit although the figure came in above the consensus forecast
Crédit Agricole
May 13: Crédit Agricole announced that it was planning a €5.9bn rights issue following further writedowns at Calyon, its investment banking unit
