European banks have completed another year with record figures. Leading EU financial institutions have noted significant profit growth due to continued high interest rates and the active development of the commission business. The total net profit of the twenty largest public banks in the region increased by 7.1% over the past year, reaching 110 billion euros (approximately $115 billion). This was a continuation of the impressive growth, which amounted to 36% in 2023. Although the rate of profit growth has slowed down somewhat, which may indicate that the maximum level of income has been achieved, financial institutions have been able to minimize the negative impact of interest rate cuts. In particular, some banks actively invested in profitable areas such as asset management and consulting services in order to reduce their dependence on loan income. The increase in revenues over the year allowed the banks not only to strengthen their positions, but also to increase the amount of funds returned to shareholders. In the first two months of this year, 20 leading banks announced share buybacks worth 18.4 billion euros, representing an increase of 29% compared to the same period last year.
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