1129 GMT - The outlook for the earnings of the large U.K. domestic banks continues to build strongly despite volatile rates and the country's underwhelming growth prospects, Barclays says in a research note. U.K. banks look set for the strongest earnings growth and capital returns across European banks, analysts Aman Rakkar and Grace Dargan write. NatWest and Lloyds Banking Group's earnings per share are estimated to grow between 40% and 50% in the next three years, with the lenders returning between 35% and 50% of their market capitalizations, they note. This isn't currently reflected in their valuations, the analysts say. NatWest trades at 406.2 pence and has gained 91% on a 12-month basis, while Lloyds's stock is worth 57.2 pence and has risen 30%. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 06:30 ET (11:30 GMT)
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