BarCap, ICAP, Investec, UBS And Trading Risk

Barclays Bank came out earlier last week and confirmed that full year profits should be in line with most analyst forecasts. The bank made sure to mention the 'very strong' income growth seen this year at investment banking arm BarCap.

ICAP, the world's largest inter-bank broker, posted profits last week for the six months to the end of September. At $68.6m, net income fell for the first time in four years. The firm is said to have confirmed that it plans to poach more staff from rival Collins Stewart Tullett as it targets a 35% money broking market share within the next three years.

South African investment bank Investec posted interim profits last week, up 53% at $181m. The firm's shares have risen 44% on the London Stock Exchange over the last three months, but Managing Director Bernard Kantor has confirmed that Investec hasn't received any takeover approaches.

UBS has been as good as its word. The bank has said that it intends to continue to build its wealth management business. And the Swiss bank confirmed late last week that it had acquired American Express Bank's private banking business in Luxembourg.

And finally, according to Bloomberg UBS headed the list of big firms in terms of the amount of money that could be lost on interest rate and currency swings in the third quarter. Here's the value-at-risk (how much firms could lose from trading in any one day) figures:

1. UBS - $115.3m

2. Citigroup - $99m

3. Goldman Sachs - $98.7m

4. JP Morgan - $94.6m

5. Deutsche Bank - $90.4m

6. Morgan Stanley - $79m

7. CSFB - $52.4m

8. Lehman Brothers - $38.9m

9. BNP Paribas - $31.8m

10. Merrill Lynch - $25.4m


Source - Bloomberg

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