Europe’s big banks are back in business and beating forecasts
London (CNN)The chief executives of Barclays and Deutsche Bank have both been overhauling their banks. One is already reaping the rewards and the other may do soon.
After years spent slashing jobs, scaling back their investment banks, and paying the price of previous corporate misconduct, both big banks are getting back to business — and their earnings are beating expectations.
Barclays (BCS) has made the most progress. CEO Jes Staley said a strong third quarter in corporate and investment banking showed that a restructuring program completed last year was paying off.
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