Ukraine hangover makes European banks look tougher than they are

Ukraine hangover makes European banks look tougher than they are

European investment banks generally do not fare well compared to their more profitable American counterparts. But the war in Ukraine makes some comparisons unfair.

Investors have been disappointed by third-quarter results released so far by Europe’s major banks, with shares collectively down more than 3% this week. This is despite the fact that most companies actually beat analysts’ profit forecasts by a decent margin.

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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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