European banks register record profits since 2008

Shares of Europe's largest banks have reached their highest levels since 2008 due to a sharp rise in long-term interest rates, which led to record profits. Among the leaders are HSBC, Barclays, Santander and UniCredit, whose shares have peaked since 2011.

Despite the fall in stock prices due to US duties, the securities included in the Stoxx 600 index have grown by 34% since the beginning of the year, surpassing the performance of American banks and achieving the best results since 2009.

The European banking sector, which had previously faced the consequences of crises and the difficulties of competing with its American counterparts, received significant support thanks to the ECB's high interest rate policy, which began in 2022. 

Italian banks have recorded particularly impressive results: their total revenue in 2024 reached 46.5 billion euros, which is 14% (5.7 billion euros) more than in 2023. In three years (2022-2024), the total profit exceeded 112 billion euros, and the prospects for further growth remain.