Weekly Global News Wrap: UBS face stricter capital reqs; BBVA eyes Abu Dhabi branch

And Citi exec expects banking and trading performances to improve.

From Reuters:
Switzerland has hit UBS with stricter capital requirements, which could make it hold $26b more in core capital.

The key proposal, which the bank would have six to eight years to prepare for after it became law, is that UBS must fully capitalise its foreign units.

From Bloomberg:
BBVA SA is preparing to expand its presence in Abu Dhabi as it seeks to grow its corporate and investment banking business in the region.

Spain’s second-largest lender aims to transform its current representative office in the emirate into a fully-fledged banking branch for its CIB unit, people with knowledge of the plans said. A spokesperson for the lender declined to comment.

From Reuters:
Citigroup's head of banking Vis Raghavan said that performance in its banking and trading divisions will improve this quarter despite "anxiety" over U.S. tariffs.

Banking fees will increase by a mid-single digit percentage in the second quarter versus the previous year, whilst market revenue will rise by a mid-to-high single digit percentage, he told investors at a conference.