Europe Bank Profits May Drop $35 Billion on Brexit, Goldman Says

  • U.K. banks’ net income may decline $11 billion on lower fees
  • Benelux and Nordic banks likely least hurt, analysts say

Brexit may shave 32 billion euros ($35 billion) off European bank earnings through 2018, a 11 percent decline from what profits would have been without the economic shock, according to Goldman Sachs Group Inc.

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