European Banks' Earnings Momentum to Stall in 2025 -- Market Talk

Dow Jones

2024-12-11

1043 GMT - The momentum of European banks' earnings is set to stall next year as rate cuts lead to lower net interest income and loan growth remains subdued, Citi says in a research note. Despite lower rate sensitivity and impairments at record lows, banks remain cyclical stocks, analysts write. "We do not envisage any sector earnings growth in 2025 year-on-year," they add. They note that geopolitics adds extra uncertainty, with tariffs, the upcoming German elections, and any knock-on impact on monetary policy. However, there are bright spots and Citi expects HSBC, Intesa Sanpaolo and NatWest to provide upbeat guidance for 2025. Citi calculates that overall net interest income will fall by 1% while income from wealth, insurance products and investment banking is set to rise 4%.(elena.vardon@wsj.com)

(END) Dow Jones Newswires

December 11, 2024 05:43 ET (10:43 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Despite lower rate sensitivity and impairments at record lows, banks remain cyclical stocks, analysts write. \"We do not envisage any sector earnings growth in 2025 year-on-year,\" they add. They note that geopolitics adds extra uncertainty, with tariffs, the upcoming German elections, and any knock-on impact on monetary policy. However, there are bright spots and Citi expects HSBC, Intesa Sanpaolo and NatWest to provide upbeat guidance for 2025. 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Despite lower rate sensitivity and impairments at record lows, banks remain cyclical stocks, analysts write. \"We do not envisage any sector earnings growth in 2025 year-on-year,\" they add. They note that geopolitics adds extra uncertainty, with tariffs, the upcoming German elections, and any knock-on impact on monetary policy. However, there are bright spots and Citi expects HSBC, Intesa Sanpaolo and NatWest to provide upbeat guidance for 2025. Citi calculates that overall net interest income will fall by 1% while income from wealth, insurance products and investment banking is set to rise 4%.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"欧洲银行2025年盈利势头将陷入停滞——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00005":0.9,"HSBC":0.9,"ISNPY":0.9,"NWG":0.9},"content_text":"1043 GMT - The momentum of European banks' earnings is set to stall next year as rate cuts lead to lower net interest income and loan growth remains subdued, Citi says in a research note. Despite lower rate sensitivity and impairments at record lows, banks remain cyclical stocks, analysts write. \"We do not envisage any sector earnings growth in 2025 year-on-year,\" they add. They note that geopolitics adds extra uncertainty, with tariffs, the upcoming German elections, and any knock-on impact on monetary policy. However, there are bright spots and Citi expects HSBC, Intesa Sanpaolo and NatWest to provide upbeat guidance for 2025. Citi calculates that overall net interest income will fall by 1% while income from wealth, insurance products and investment banking is set to rise 4%.(elena.vardon@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 11, 2024 05:43 ET (10:43 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"economic","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}