Europe’s Largest Banks Top €100 Billion Profit for First Time
This article is for subscribers only.
Europe’s largest banks exceeded €100 billion ($108 billion) in profit for the first time last year as the lift from rising interest rates handed most of them record earnings.
The combined net income of the 20 biggest continental European banks that have reported results soared to €103 billion from €78 billion in the previous year. Three-quarters of the lenders in the group achieved the highest profit in their history, data compiled by Bloomberg shows.