European banks brace for Q2 profits despite war
European banks are expected to achieve strong profit growth in the second quarter of the year, supported by increased lending activity and improved profit margins due to rising interest rates, along with solid performances from trading and investment banking activities. Net income before taxes is projected to rise by 11% year-on-year, according to Goldman Sachs estimates. The sector continues to benefit from a positive financial environment despite the uncertainty caused by the war between the United States and Iran. The European banking earnings season kicks off with reports from UniCredit and Santander, while forecasts indicate that the sector will continue to benefit from rising interest rates and enhanced operational efficiency, despite concerns related to geopolitical tensions and their impact on the markets.
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