Europe’s biggest bank said Tuesday that pre-tax profit grew by $4.1 billion to $8.8 billion in the second quarter compared to the same time a year before. That trumped analyst expectations of about $8 billion. Revenue also rose by $4.5 billion to $16.7 billion. The strong performance led the London-based lender to raise its outlook for the rest of the year, citing the current consensus for global interest rates.
’s results over the past year have shown a steady recovery from the pandemic. In May, the lender revealed a tripling of quarterly profit, in part due to high interest rates and a provisional gain it expected from buying the UK arm of failed US lender Silicon Valley Bank. In a sign of renewed confidence,
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk reactivates Kanye West's Twitter account following X rebrand | CNN BusinessX, formerly known as Twitter, has reinstated Kanye West’s account on the social media platform. West will not be able to monetize his account, and no ads will appear next to his posts, the company told the Wall Street Journal on Saturday.
Source: CNN - 🏆 4. / 95 Read more »
Illegal child labor is on the rise in a tight job market | CNN BusinessThere’s been a serious increase in child labor law violations in the US over the past few years. Well known companies, consumer-facing name brands, have been caught employing children for grueling work in dangerous conditions.
Source: CNN - 🏆 4. / 95 Read more »
'Barbenheimer' box office success has reawakened America's moviegoing muscle | CNN BusinessIt’s a tale of two movies and a box office triumph: “Barbie” and “Oppenheimer” maintained incredible momentum into their second weekends.
Source: CNN - 🏆 4. / 95 Read more »
China set to announce new stimulus measures as factory sector contracts for fourth month | CNN BusinessChina is preparing to announce new stimulus for its stumbling economy after the vast factory sector contracted for a fourth straight month, and a gauge of activity in its services sector slipped to a seven month low.
Source: cnni - 🏆 326. / 59 Read more »
Europe's economy is growing again as inflation continues to fall | CNN BusinessThe euro area economy is growing again.
Source: cnni - 🏆 326. / 59 Read more »