Business Standard

Nomura Holdings' profit sinks 76% as banking turmoil hits trading

Net income slid 76 per cent from a year earlier in the three months ended March 31 to $55 million, Japan's largest brokerage said in a statement on Wednesday

File photo of the logo of Nomura Securities is seen at the company's Head Office in Tokyo, Japan. (Photo: Reuters)

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Nomura Holdings’s profit fell as fixed income trading revenues were hit  by a spike in volatility in March and deal-making slumped on muted client activity. Net income slid 76 per cent from a year earlier in the three months ended March 31 to $55 million, Japan’s largest brokerage said in a statement on  Wednesday. The figure missed an average estimate of 38.5 billion yen. 

Frankfurt offices raided
 
Nomura ’s Frankfurt offices are being raided as part of a vast German probe into the Cum-Ex tax dividend scandal. A spokesman confirmed that prosecutors attended the offices  in connection with an investi-gation into historic transac-tions in German stock arou-nd the dividend record date.
 

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First Published: Apr 26 2023 | 11:47 PM IST

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