Nearly two months into the third quarter of the year and European banks are finally getting around to announcing second-quarter results. It has been mostly good news.
Wednesday was a big day, with Barclays, Deutsche Bank and Santander each producing better numbers than analysts had (been led to) forecast.
We won’t see this sort of release every quarter
Tushar Morzaria, Barclays
Barclays was boosted by an impairment release of £800 million, driven by the improved macroeconomic variables (MEVs) in its credit risk models and lower unsecured balances.
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