Bank's gut feeling
Article Abstract:
Rainer Gut, chairman of CS Holding, has announced a restructuring of the group. CS which includes Credit Suisse will take a charge of 1 billion Swiss francs for restructuring costs and there will be 5,000 jobs shed over a period of three years. Credit Suisse estimated that there will be annual savings of 700 million Swiss francs from the reorganization. The announcement has led to a rise in the share price of CS which follows other major Swiss financial groups in carrying out a reorganization.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Deutsche Bank
Article Abstract:
Deutsche Bank reported a rise in profit for the first four months of 1996. The company holds a stake of 48% in Klockner-Humboldt-Deutz (KHD) which reported a large loss at the same time as Deutsche Bank's profit was reported. The bank's exposure to KHD's losses has not been clarified. Buoyant securities markets have helped the bank's results, but these conditions may not continue. Expenses have increased mainly because of the cost of developing Deutsche Morgan Grenfell.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Bank of Ireland rises with the tide
Article Abstract:
Bank of Ireland is one of the two principal Irish banks and, together with the other, Allied Irish, accounts for 80% of the retail market in Ireland. Bank of Ireland ranks first in the mortgage market, and is more focused on Ireland than is Allied Irish. Corporates account for an estimated tenth of the lending of Bank of Ireland and this area has seen margins under pressure. Cost ratios are being reduced, volumes are rising and there is little competition.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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