Financial issues: A woman walks over a bridge with banks in the background in Frankfurt. The continent’s lenders are in a tough spot on the coronavirus outbreak. — AP
FRANKFURT: European bank stocks are trading close their steepest-ever discount to United States rivals and early signals show that first-quarter earnings may only reinforce the gap.
The continent’s lenders, already in a tough spot before the coronavirus outbreak hit, are likely to detail more worrying news for their embattled investors. In Germany, Deutsche Bank AG may have seen credit trading weigh on its markets revenue, while Commerzbank AG probably started to set aside more funds for troubled loans. HSBC Holdings Plc warned of higher provisions, and French bank BNP Paribas has already taken a trading hit.
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