1217 GMT - Some European banks have set aside provisions for bad loans given the uncertain macroeconomic environment and more are set to follow at their second-quarter results, Keefe, Bruyette & Woods says in a research note after a heavy week of earning reports. The results were relatively strong though they prompted mixed reactions which are worth putting in the context of the sector hitting new relative highs against the European market on Thursday and clawing back almost all of the weakness of early April, analysts write. On average, profits were better than expected on higher revenue and in-line costs. "The P&L was skewed by some banks making deliberate moves to build some extra reserves due to the risk of tariffs, which we think is a sensible move for banks to make," they note. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 02, 2025 08:18 ET (12:18 GMT)
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