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  • Eurozone bank stocks post best performance in a decade
    2025-01-05 15:00:50

    Eurozone bank stocks posted their best performance in a decade in 2024, ending the year at a record high. This was driven by strong financial results from lenders that weathered falling interest rates and announced significant profits for their shareholders.

    The Euro Stoxx Banks index, which tracks the largest banks in the eurozone, is set to close the year above 142 points. This is the first time since 2010 that the index has reached this level, with its value increasing by more than 20% in 2024. This growth was the result of a steady increase in European bank profits over the past three years, largely driven by rising interest rates.

    Although central banks have started to cut rates this year, concerns about pressure on banks’ net interest margins have not affected their share prices. Instead, banks continued to show steady growth, and their shares remained attractive to investors. Italy’s UniCredit became the leader among large European lenders, growing by more than 50% during the year. Shares of Intesa Sanpaolo, another large Italian bank, also showed an impressive result, increasing by more than 40%. Germany’s Deutsche Bank showed an increase in share value of more than 30%.

    At the same time, BNP Paribas, one of France’s largest banks, was among the outsiders. Its shares fell by almost 8% for the year, which was the result of low profitability and other economic difficulties that the bank faced. However, the overall indicators of the sector remain positive, indicating the stability and ability of banks to adapt to changing economic conditions.

    2024 was one of the most profitable for European banks in recent years. Higher rates, even despite central bank rate cuts, and structural hedging have allowed lenders to stay afloat and continue to generate high profits. According to Citigroup analysts, the average return on equity in the sector this year was about 13%.

    Despite the lack of active corporate activity and the slowdown in lending, the eurozone banking system was able to cope with economic challenges and demonstrate good results. The increase in bank profitability in 2024 was an important factor that contributed to the steady growth of the value of their shares and provided optimism among investors in the market.

    Thus, 2024 confirmed the strong position of European banks in the financial markets and emphasized the importance of effective asset management and adaptation to changing macroeconomic conditions to achieve high financial results.

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