0929 GMT - The earnings of European banks that have reported so far have shown profit beats with in line revenues, better costs and lighter provisions, Keefe, Bruyette & Woods say in a research note. The 14 banks the broker covers that had results last week posted an 11% net profit beat on average, though their pre-provision figures were only 3% ahead of consensus, analysts write. Provisions were 15% lower than expected for the quarter, which was a greater driver of net earnings beats compared with the first-quarter print, they add. "We believe the sector will continue to perform well," they note ahead of the wave of banks scheduled to report earnings in the coming days. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
July 28, 2025 05:29 ET (09:29 GMT)
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