French Banks’1H19 : Signs of Stabilisation in Domestic Retail Revenues
DBRS Ratings Limited (DBRS) published a new commentary on French Banks’ 1H19 performance.DBRS views large French banks’ performance in 1H19 as resilient despite a moderate decline in earnings, with a recovery in domestic retail banking revenues. DBRS notes the resilience of French banking groups’ business models, based on strong diversification, exposure to areas of growth and solid business momentum.
• French banks’ performance was resilient in 1H19 despite a moderate decline in earnings, driven mainly by a normalisation in the cost of risk.
• Revenues and operating expenses were broadly steady YoY despite the challenging operating environment, business exits and ongoing investment in digitisation and transformation.
• DBRS notes a YoY rebound in revenues in French Retail banking in 1H19, following declines in 2017 and 2018.
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