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Swiss lawmakers have called for stricter oversight of the financial sector following a report that attributed Credit Suisse's collapse to mismanagement and criticized regulatory responses. Meanwhile, UniCredit's CEO emphasized the need for deeper European banking integration to enhance economic growth, while US regulators face scrutiny over their handling of bank mergers, particularly regarding Capital One's proposed acquisition of Discover. In a separate development, Crédit Agricole has agreed to acquire Santander's stake in Caceis, gaining full control of the asset servicing entity.
Executives anticipate a surge in bank mergers and acquisitions following the Trump administration's return, as new regulators may ease capital rules and merger approvals. This shift could enable larger regional banks to acquire rivals, fostering competition against major banking giants. Key players like Capital One and PNC are expected to pursue significant deals, driven by a strong demand for consolidation in the industry.
Capital One Financial Corp. reported a net income of $1.78 billion, remaining stable year-over-year, and surpassed Wall Street expectations with adjusted earnings per share of $4.51, exceeding the $3.77 average estimate from analysts. The growth was driven by strong performance in its credit-card and auto-lending sectors.
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credit suisse collapse prompts calls for stricter financial oversight in switzerland
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12:40 20.12.2024
bank executives anticipate surge in mergers under new administration
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20:46 12.11.2024
capital one reports strong profit driven by credit card and auto loans
22:26 24.10.2024
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