Bank strategy and results
Mitsubishi UFJ Financial Group will implement a major revamp as it looks to increase earnings from corporate and investment banking overseas by more than a half over the next three years.
Commerzbank blamed the competitive nature of German corporate banking for a 46% drop from a year earlier in operating profits to €145m in its corporate clients division during the first quarter.
Activist investor Edward Bramson is calling on Barclays to end the bulk of trading activities at its investment bank, in a radical plan to cut costs and boost returns at the British lender, three sources said.
Japan Post Bank, one of the country’s biggest institutional investors, with ¥207.7trn (US$1.89trn) under management, is to increase its allocation to credit and alternative investments in a bid to improve returns.