Wealth / PB Review 2Q26/6m26
Operating revenue topped $98bn in 6m26, 16% up y/y. APAC enjoyed the strongest gains, led by fee income from equities, structured products and discretionary mandates; substantial net new money inflows, particularly cross‑border from China into Hong Kong and Singapore; and robust client acquisition across UHNW and Affluent segments. AMER also advanced, supported by exceptionally strong […]
CIB Review 2Q26 / 6m26
Capital Markets Combined 1H26 revenue reached $168bn, up 31% year‑on‑year, driven by record Equities revenue and a surge in Banking fees; pre‑tax profits in both areas doubled. Bolstered by exceptionally favourable domestic market conditions, American banks significantly outperformed their European peers on both revenue and profit growth. Private credit is increasingly being transformed into investment […]
Wealth / PB Review 1Q26
Aggregate revenue rose to $49bn, up 15% from 1Q25, led by transactional and advisory fees, the sub‑$1m client tier, and AMER, with APAC close behind. Pre‑tax margin improved to 27%, from 25% a year earlier. AuM increased 19% y/y to $21tn. Prompted by the war on Iran, managers are sharply de‑risking portfolios, with several lifting […]
CIB Review 1Q26
Capital Markets Operating revenue topped $79bn, 18% ahead of 1Q25. ECM, Advisory and Equities outperformed, with FICC also contributing meaningfully. Costs rose, but at a slower pace; as a result, the aggregate profit surged 21%. AMER banks outperformed their EMEA counterparts in revenue and profit growth. US regulators’ Basel III endgame proposals look far softer […]
Wealth / PB Review 4Q25/FY25
HSBC and Standard Chartered have not yet released their 2025 results, so Tricumen estimated the banks 4Q25 performance. Banks’ operating revenue exceeded $180bn, up 12% from FY24. Transaction revenues surged, supported by strong brokerage fee inflows. Investment management fees – particularly advisory – also contributed meaningfully, though growth lagged the 20% increase in AuM. Net […]
CIB Review 4Q25/FY25
Capital Markets HSBC has not yet released its 2025 results, so Tricumen estimated the bank’s 4Q25 performance. Banks’ capital markets revenues exceeded $250bn, up 13% from FY24. Equities delivered the fastest growth, followed by FICC and Banking. Operating costs – driven mainly by performance‑related compensation and technology – rose more slowly, allowing profits across all […]
Wealth / PB Review 3Q25/9m25
The aggregate operating revenue reached $11bn in 9m25, 11% y/y. The mass-affluent segment ($200k-$1m) recorded the fastest growth; this was driven by strong transactional revenues, the fastest-growing revenue segment across the peer group. Regionally, AMER and APAC outpaced EMEA. AuM jumped 17% y/y, with several banks in the peer group reporting record net new money […]
CIB Review 3Q25/9m25
Capital Markets Peer group revenues reached $192bn in 9m25, marking a 14% y/y increase. All three core business segments posted revenue gains of 12-15%, with FICC and Equities also delivering over 10% growth in front-office productivity. Operating expenses rose – primarily driven by elevated front-office comp and continued investment in technology – but at a […]
Wealth / PB Review 2Q25/6m25
The aggregate operating revenue reached $42bn in 2Q25, up 10% y/y and only a shade below 1Q25. Year-to-date, revenue totalled $85bn, +10% y/y. Investment management fees, up 12% and 17% y/y respectively, were the key drivers in 2Q25. Contrary to consensus expectations, net interest income grew, albeit very slightly and only due to three large […]
CIB Review 2Q25/6m25
Capital Markets The combined operating revenue topped $62bn in 2Q25, 13% ahead of the strong 2Q24. Year-to-date, American banks outperformed in Banking and Equities, while European banks reported impressive revenue gains in FICC. Partly as a result of (thus far targeted) cost-cutting measures, European banks grew their pre-tax profits faster than Americans; the aggregate pre-tax […]