European Lenders Ring Warning Bells
欧洲三大银行巨头德国商业银行(Commerzbank AG)法国兴业银行(Societe Generale SA)以及荷兰国际集团(ING Groep N.V.)周三警告称，今年银行业绩前景仍将动荡，三家银行此前公布了一系列资产冲销和黯淡的第四季度业绩。截至去年12月31日的第四季度是50多年来股市和债市表现最为糟糕的一个季度，当季荷兰国际集团和德国商业银行出现亏损，而法国兴业银行则略有盈利。财务业绩预示了上述银行将面临一个低迷的年份，三大银行均接受了国家援助。从银行的黯淡预期可以看出，随着全球银行体系遭受更多冲击，西欧银行处境艰难。中欧和东欧经济的问题也使得这些银行在新兴市场扩展的长期策略受到质疑。总部位于法兰克福的德国商业银行公布，第四季度净亏损8.09亿欧元（10.2亿美元），上年同期实现净利润2.01亿欧元。该银行表示，2009年难以扭亏为盈，因为收购德累斯顿银行(Dresdner Bank AG)的交易计入了高额贷款损失。两家银行于去年夏天同意合并，意在组建一个实力更强的实体与德意志银行(Deutsche Bank AG)展开竞争。德国商业银行2008年总计冲销了大约10亿欧元的资产。该行正在将2009年的坏帐准备金提高10%-20%。该行首席执行长布莱辛(Martin Blessing)说，去年第四季度是我们所经历最为艰难的一段时期。但首席财务长舒茨(Eric Strutz)表示，银行在今年1月开了个好头，2010年有望实现利润，但这要取决于经济大环境。他说，2009年总支出应当不会超过2008年，2010年应会有所下降。舒茨说，尽管中欧和东欧经济状况不断恶化，但德国商业银行打算继续在这些地区继续经营下去，并已经提高了对俄罗斯和乌克兰的风险准备金。与此同时，荷兰银行和保险公司荷兰国际集团表示，将在2009年缩小业务范围并精简活动以削减成本。该公司第四季度净亏损37.1亿欧元，上年同期实现利润24.8亿欧元。荷兰国际集团董事长兼代理首席执行长霍曼(Jan Hommen)拒绝透露公司会退出哪些活动和市场，只是说公司会在未来数月作出决定。霍曼说，现在下结论还为时过早。但他提到了近期出售台湾和加拿大保险业务的例子。荷兰国际集团今年早些时候表示，可能会裁员7,000人，占其员工总数的6%左右。该行还表示，会将旗下300亿欧元Alt-A级抵押贷款投资组合的大部分转售给荷兰政府；Alt-A级抵押贷款的风险比次级抵押贷款低，但高于最优级投资产品。法国兴业银行公布去年实现小幅利润，但警告称，今年状况可能和去年一样困难或更为艰难。该行第四季度实现利润8,700万欧元，上年同期为亏损33.5亿欧元，当时主要受到一桩交易丑闻的拖累。该行在法国零售银行业务实现的盈利几乎完全被旗下资产管理和国际零售部门的亏损所抵消。法国兴业银行打算进一步削减旗下投资银行业务的成本，这是遭受危机冲击的又一项业务。William Launder / Bart Koster / Nicolas Parasie相关阅读东欧经济噩耗连连 外资银行遭受重创 2009-02-19东欧经济面临硬着陆危险 2009-02-18德国经济部长：政府希望通用汽车就欧洲区业务作出明确表示>GM 2009-02-18欧洲央行：政策要着眼于长效 2009-02-17德国2月份ZEW经济预期指数强劲上升 2009-02-17 本文涉及股票或公司document.write (truthmeter('2009年02月19日10:02', 'ING'));荷兰国际集团英文名称：ING Groep N.V. (ADS)总部地点：荷兰(Netherlands)上市地点：纽约证交所股票代码：INGdocument.write (truthmeter('2009年02月19日10:02', 'INGA.AE'));Ing Groep N.v.总部地点：荷兰(Netherlands)上市地点：AMS股票代码：INGdocument.write (truthmeter('2009年02月19日10:02', '13080.FR'));Societe Generale S.A. (France)总部地点：法国上市地点：PARB股票代码：SOGNdocument.write (truthmeter('2009年02月19日10:02', 'SCGLY'));Societe Generale (France) (ADS)总部地点：法国上市地点：美国场外交易粉单市场(Pink Sheet)股票代码：SCGLYdocument.write (truthmeter('2009年02月19日10:02', 'CRZBY'));Commerzbank Ag总部地点：德国上市地点：美国场外交易粉单市场(Pink Sheet)股票代码：CRZBYdocument.write (truthmeter('2009年02月19日10:02', 'CBK.XE'));Commerzbank Ag总部地点：德国上市地点：德国证券电子交易平台股票代码：CBKG
Three of Europe's banking giants -- Commerzbank AG, Societe Generale SA and ING Groep NV -- warned Wednesday that the year ahead will bring continued turmoil, as they reported a round of write-downs and lackluster fourth-quarter results.ING and Commerzbank posted losses, while Societe Generale reported a small profit for the three months ended Dec. 31, the worst quarter for stock and bond markets in more than half a century. The financial results punctuate a dismal year for the lenders, all of which are receiving state support.The banks' grim forecasts highlight the difficulties Western European lenders are having as more shocks hit the world banking system. Problems in Central and Eastern Europe are creating doubt about long-term strategies of expanding in emerging markets.Frankfurt-based Commerzbank reported a fourth-quarter net loss of 809 million euros ($1.02 billion), compared with a 201 million euro net profit in the year-earlier period. It said it wouldn't turn a profit in 2009, booking high loan losses as it integrates Dresdner Bank AG. The two banks agreed to merge last summer in a bid to create a more powerful rival to Deutsche Bank AG.Total write-downs for 2008 for Commerzbank came to around 1 billion euros. The company is boosting provisions for bad loans by between 10% and 20% in 2009.'The fourth quarter was one of the most difficult ever for Commerzbank,' Chief Executive Martin Blessing said.Still, Chief Financial Officer Eric Strutz said that Commerzbank made a 'good start' to 2009 in January and that a profit was foreseeable for 2010, depending on economic conditions. Total 2009 charges shouldn't exceed those incurred in 2008 and should decrease in 2010, he said.Mr. Strutz said Commerzbank planned to continue operating in Central and Eastern Europe despite the region's worsening economic situation and had increased its risk provisions for Russia and the Ukraine.Meanwhile, Dutch banking and insurance company ING said it would narrow its market reach and cull its activities to cut costs in 2009. It reported a fourth-quarter net loss of 3.71 billion euros, compared with a profit of 2.48 billion euros a year earlier.ING Chairman and interim CEO Jan Hommen declined to say which activities and markets the company would exit, saying ING would decide this in the coming months.'It is too early to make conclusions now,' Mr. Hommen said. But he referred to the recent sale of insurance operations in Taiwan and Canada as examples.The bank said earlier this year that it would cut 7,000 jobs, about 6% of its work force. It also said it would transfer to the Dutch state the bulk of its 30 billion euro portfolio of Alt-A mortgages, which are less risky than subprime, but riskier than prime-rated products.France's Societe Generale reported a modest 2008 profit but cautioned that the year ahead would be as tough or tougher than last year. The lender posted a profit of 87 million euros for the fourth quarter, compared with a 3.35 billion euro loss in the year-earlier period, when results were hit by a trading scandal.A profit in French retail banking was almost entirely offset by losses at the bank's asset-management and international-retail division. The bank aims to reduce costs further at its investment bank, another business that has been hit by the crisis.William Launder / Bart Koster / Nicolas Parasie
Three of Europe's banking giants -- Commerzbank AG, Societe Generale SA and ING Groep NV -- warned Wednesday that the year ahead will bring continued turmoil, as they reported a round of write-downs and lackluster fourth-quarter results.ING and Commerzbank posted losses, while Societe Generale reported a small profit for the three months ended Dec. 31, the worst quarter for stock and bond markets in more than half a century. The financial results punctuate a dismal year for the lenders, all of which are receiving state support.The banks' grim forecasts highlight the difficulties Western European lenders are having as more shocks hit the world banking system. Problems in Central and Eastern Europe are creating doubt about long-term strategies of expanding in emerging markets.Frankfurt-based Commerzbank reported a fourth-quarter net loss of 809 million euros ($1.02 billion), compared with a 201 million euro net profit in the year-earlier period. It said it wouldn't turn a profit in 2009, booking high loan losses as it integrates Dresdner Bank AG. The two banks agreed to merge last summer in a bid to create a more powerful rival to Deutsche Bank AG.Total write-downs for 2008 for Commerzbank came to around 1 billion euros. The company is boosting provisions for bad loans by between 10% and 20% in 2009.'The fourth quarter was one of the most difficult ever for Commerzbank,' Chief Executive Martin Blessing said.Still, Chief Financial Officer Eric Strutz said that Commerzbank made a 'good start' to 2009 in January and that a profit was foreseeable for 2010, depending on economic conditions. Total 2009 charges shouldn't exceed those incurred in 2008 and should decrease in 2010, he said.Mr. Strutz said Commerzbank planned to continue operating in Central and Eastern Europe despite the region's worsening economic situation and had increased its risk provisions for Russia and the Ukraine.Meanwhile, Dutch banking and insurance company ING said it would narrow its market reach and cull its activities to cut costs in 2009. It reported a fourth-quarter net loss of 3.71 billion euros, compared with a profit of 2.48 billion euros a year earlier.ING Chairman and interim CEO Jan Hommen declined to say which activities and markets the company would exit, saying ING would decide this in the coming months.'It is too early to make conclusions now,' Mr. Hommen said. But he referred to the recent sale of insurance operations in Taiwan and Canada as examples.The bank said earlier this year that it would cut 7,000 jobs, about 6% of its work force. It also said it would transfer to the Dutch state the bulk of its 30 billion euro portfolio of Alt-A mortgages, which are less risky than subprime, but riskier than prime-rated products.France's Societe Generale reported a modest 2008 profit but cautioned that the year ahead would be as tough or tougher than last year. The lender posted a profit of 87 million euros for the fourth quarter, compared with a 3.35 billion euro loss in the year-earlier period, when results were hit by a trading scandal.A profit in French retail banking was almost entirely offset by losses at the bank's asset-management and international-retail division. The bank aims to reduce costs further at its investment bank, another business that has been hit by the crisis.William Launder / Bart Koster / Nicolas Parasie