a notable drop in performance in its financial markets division in the last quarter as it also boosted provisions for bad loans in preparation of a potential economic slowdown ahead.
He said the bank had solid earnings, but saw a"less constructive backdrop" in its financial markets segment. Analysts on average had expected an adjusted profit of $2.38 per share, according to estimates compiled by financial markets data firm Refinitiv. The bank has been working to reduce its head count, largely through attrition. Full-time equivalent employees were down by 227 in the third quarter to 18,821 from the first-quarter peak of 19,048. The total head count however is still higher than the 18,502 level in the third quarter last year.
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