European Banks Beat Third-Quarter Profit Forecasts
Major European lenders including Deutsche Bank and BNP Paribas beat third-quarter profit forecasts, easing concerns that the banking profit boom is fading. Standard Chartered raised its targets after strong results, while UBS accelerated its ongoing share buyback program.
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Major European lenders including DEUTSCHE BANK AG-REGISTERED and BNP PARIBAS beat third-quarter profit forecasts, easing investor anxiety over the sector. The results counter recent fears that record earnings driven by higher interest rates are beginning to peak. Strong performances in wealth management and trading helped offset headwinds from economic uncertainty in Europe and the Americas.
