Good loan growth in Canada and South America, but softer Asian business. Added to Peru and Chile exposures with acquisitions. Concerns of potential asset quality deterioration in Latin American and direct and indirect Canadian oil loans.
All businesses contributed to a record quarter. Strategic focus bearing fruit. Credit quality remains solid.
Record quarter with strong assist from residential mortgage, commercial, and indirect auto loan growth. Capital build on higher earnings used to fund organic loan growth. Asset quality stable, but expected to fall.
Litigation and restructuring charges dragged down results. Continued march towards new operating structure helping capital ratios.
Results varied. Two segments performing strongly, two worse, and one flat. Net positive for the quarter. Caribbean cuts done, Swiss wealth sale pending, City National incoming.
Earnings lift provided by solid loan growth in Canada and U.S. operations, expense control and lower credit costs. Oil & gas loans showing small signs of deterioration, but still under control.
Societe Generale posted strong results across its franchise as if the global slowdown was of little concern. We believe it needs to downsize its franchise in Russia, and worry about credit costs escalating from a global slowdown.
BNP posted good results across its franchise as if the European slowdown was of little concern. We still believe it needs to downsize its franchise and worry about credit costs escalating if Europe does not pick up more.
Jettisoned CDO book torpedoed earnings. Soft commercial and CRE lending offset by strong residential and home equity lending. Rising energy classified loans bear monitoring.
Similar to other global banks, HSBC plans to ‘prioritize’ and invest heavily in Asia in insurance and asset management. It has plans to beef up in Pearl River Delta and ASEAN with business innovations, but will yuan devaluation resulting from a slowing China economy help or hinder. HSBC HSBC HSBC HSBC