12 hours ago
European Banks Face Hit to Profits in S&P Trade War Stress Test
European banks would see their profits eroded if an escalation of trade tensions with the US leads to souring corporate loans, according to S&P Global Ratings.
Credit Agricole and BPCE of France, Frankfurt-based Commerzbank, Dutch lender Rabobank and Denmark's DLR Kredit stand to be hit hardest, according to calculations by the credit ratings company. S&P said none of the 91 banks it examined were projected to face an annual loss in its stress test.
