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| Brief Excerpt: | ...Weaker Earnings in 2H14: Earnings are likely to be seasonally weaker in 3Q14 and 4Q14 after adjusted pre-tax return on equity fell in 1H14 at a majority of the 12 Global Trading and Universal Banks (GTUBs; see annex for a list of the banks in the peer group and their ratings). Results in 1H14 were hit by high conduct costs and pressure on trading revenue, which were balanced by moderate loan impairment charges and progress in cost reduction. Loan Impairments at Cyclical Low: We expect the GTUBs 2H14 performance to be helped by sound operating profitability in their core retail and corporate banking businesses. GDP growth in the US and UK should help business volumes, and new impairments in Europe should decline. However, earnings in Europe will remain under pressure due to the persistent low interest rates. Conduct Charges to Remain High: All GTUBs are exposed to some litigation and other conduct risks, and Fitch Ratings expects fines to remain a recurring feature over the near term. Uncertainty... |
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| Report Type: | |
| Company(ies) | JPMorgan Chase & Co
, Bank of America Corporation
, The Goldman Sachs Group, Inc.
, Morgan Stanley
, Deutsche Bank AG
, Citigroup Inc.
, Barclays Bank PLC
, UBS AG
, Societe Generale S.A.
, BNP Paribas S.A.
, Credit Suisse AG
, HSBC Bank PLC
, HSBC Holdings PLC
, Credit Suisse Group AG
, Barclays PLC |
| Ticker(s) | BAC
, BARC
, BNP
, C
, CSGN
, DBK
, GLE
, GS
, HSBA
, JPM
, MS
, UBRA |
| Issuer | Barclays plc |
| Format: | | PDF |  |
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