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Europe's Top Ten Banks Post €92 Billion Profit, Narrowing Gap
8 articles |
Updated 6d ago |
Created 6d ago
According to a new analysis from consulting firm Ernst & Young (EY), the ten largest European banks reported combined profits of $103 billion ($€92B). This represents an annual increase in earnings for these institutions. While U.S.-based competitors maintain their lead, Europe's top tier has narrowed that gap significantly over recent months as they improved performance relative to American rivals during this period according EY data released today March 8th at noon GMT+1 (03:59 UTC).
Key Points
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1The top ten European banks reported annual profits of €92 billion, marking an increase of approximately eight percent.
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2According to EY analysis, HSBC achieved the highest profitability among major Eurozone institutions last year despite overall growth being modest compared to US competitors.
Developments
[Mar 09]
EY reported that European banks' profits reached €92 billion with an eight percent increase, while noting HSBC's top performance among major institutions and a narrowing but persistent gap against US competitors.
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