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quantum computing poses risks and opportunities for data security and encryption

Quantum computing, with its potential to revolutionize technology, poses significant risks to data security as current encryption methods may soon become obsolete. The anticipated "Q-Day" could allow quantum computers to crack existing encryption, prompting urgent action for developing quantum-resistant methods. While we have time before this revolution, the fragility of our digital security systems is increasingly evident, underscoring the need for proactive measures.
10:24 31.10.2024

Raiffeisen Bank International reports mixed Q3 results and increased provisions for Poland

Raiffeisen Bank International AG reported mixed figures for Q3, indicating a need for increased provisions in Poland. As of the end of 2023, the banking group managed EUR 119.3 billion in deposits and EUR 99.4 billion in loans, operating through 1,519 agencies across Europe. The net banking product distribution shows 33.7% from Eastern Europe, 28% from Central Europe, 22.8% from South Eastern Europe, and 15.5% from other regions.
15:06 30.10.2024

UBS reports strong third quarter with net profit of 1.42 billion

UBS reported a net profit of $1.42 billion for the third quarter, significantly surpassing market expectations and recovering from a $715 million loss in Q3 2023. The bank"s sales rose to $12.33 billion, driven by strong performance in its wealth management division, which generated pre-tax profits of $1.08 billion. Despite a slight decline in the CET1 ratio to 14.3%, UBS is on track to achieve its cost reduction targets, anticipating $7.5 billion in savings for 2024.
10:07 30.10.2024

Raiffeisen Bank Romania reports strong growth and digital transformation in 2024

Raiffeisen Bank Romania reported significant growth in the first nine months of 2024, with assets exceeding 74.3 billion RON and a profit of 1,265 million RON. The bank saw a fivefold increase in digitally enrolled clients and expanded its insurance and investment offerings, including a milestone of over 1 billion euros in Private Banking assets. Additionally, new business volumes in leasing doubled, reflecting a strong commitment to sustainable financing and support for SMEs.
08:38 30.10.2024

ubs reports strong third quarter profit of 1.43 billion dollars

UBS reported a third-quarter net profit of $1.43 billion, surpassing analysts' expectations of $825 million, contributing to a total profit of $4.32 billion for the year. The bank's operating income rose 5% to $12.33 billion, aided by a $25 billion inflow in international asset management and an $800 million reduction in expenses. CEO Sergio Ermotti highlighted the successful integration of Credit Suisse, with the first phase of client account absorption completed in Luxembourg and Hong Kong, and further expansions planned for Singapore, Japan, and Switzerland.
08:07 30.10.2024

UBS reports strong third quarter profit amid Credit Suisse integration progress

UBS reported a profit of $1.43 billion in the third quarter, significantly surpassing analysts' expectations of $825 million. Operating revenues rose 5% to $12.33 billion, while cumulative profits for the year reached $4.32 billion. The bank's wealth management division saw a $25 billion inflow, boosting assets under management by 15% to approximately $6,200 billion, aided by a savings program that cut expenses by $800 million. The integration of Credit Suisse is progressing, with the first phase of client account absorption completed in Luxembourg and Hong Kong, and further phases planned for Singapore, Japan, and Switzerland by 2025.
07:24 30.10.2024

Raiffeisen lowers 2024 ROE forecast amid Polish mortgage loan provisions

Raiffeisen has revised its 2024 consolidated return on equity guidance to approximately 7.5 percent, down from the previously anticipated 10 percent. This adjustment follows the bank"s decision to allocate 493 million euros for provisions related to Swiss franc and euro mortgage loans in Poland.
19:12 29.10.2024

Raiffeisen Bank International accelerates exit from Russian market amid profit decline

Raiffeisen Bank International has accelerated its exit from the Russian market, resulting in a 1.5 percent decline in consolidated profit to 2.1 billion euros after three quarters. Notably, over half of this profit was derived from operations in Russia and Belarus.
08:00 29.10.2024

Raiffeisen Bank reports 856 million euros profit excluding Belarus and Russia

Raiffeisen Bank International (RBI) reported a consolidated profit of EUR 2.083 billion for the first three quarters of 2024, down from EUR 2.114 billion year-on-year. Excluding contributions from Belarus and Russia, the adjusted profit stood at EUR 856 million, reflecting a strategic risk reduction amid the withdrawal from these markets. The results included provisions totaling EUR 493 million in Swiss franc and euro.
01:00 29.10.2024

oil prices fall on middle east de-escalation hopes gold and coffee steady

Oil prices fell 6% amid easing tensions in the Middle East, as Israel's military response avoided Iranian oil facilities. Gold remains steady below record highs, while Arabica coffee prices bounced off support levels, with potential resistance at 255.70.
22:48 28.10.2024
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