May 22, 2024

‘Very strong first quarter’ – European banks are more profitable

Frankfurt skyline

In the coming weeks, European banks will present their numbers, including Deutsche Bank and Commerzbank.

(Photo: dpa)

Frankfurt Bank failures in the US and a much-needed rescue from Credit Suisse have spooked European bank chiefs. Business should have been doing well for most financial institutions from January to the end of March.

Therefore, “staying on the right track” is the motto of Unicredit President Andrea Orcel, as he recently emphasized at a financial conference. Recent problems in the banking sector have been isolated cases. You shouldn’t let yourself get distracted too much.

It is likely that the coming days will show how strong the big European banks really are. Then, after US banks, the largest European financial institutions will also present their figures for the first quarter.

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