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Saturday, 22 September 2018

Bank strategy and results

Banks see success in declining activism cases

IFR 2248 25 August to 31 August 2018

The rush to beef up activism defence groups appears to be paying off for investment banks – by one measure, at least, which shows the number of activism campaigns falling.

Commuters walk past an ANZ bank branch in Sydney, Australia.

ANZ banks on growth in Japan

IFR 2247 18 August to 24 August 2018

Australia & New Zealand Banking Group is targeting double-digit growth in Japan as it seeks to scale up its institutional business following a retrenchment across the region over the past two years.

Jefferies profit falls 28% on underwriting costs

IFR 2252 22 September to 28 September 2018

Independent investment bank Jefferies saw its profits in the third quarter drop 28% from a year ago to US$60m, largely due to higher underwriting and business development costs.

JP Morgan, Citi see weaker Q3 trading

IFR 2251 15 September to 21 September 2018

JP Morgan and Citigroup offered a dreary outlook for the third quarter with less than three weeks left to save the period. For fixed income, commodities and trading it could spell another year of diminishing revenue as the strong performance in the first half is eroded.