Fitch anticipates mixed bag for banks in 1Q2024 due to policy rate tightening

By MG News | April 12, 2024 at 04:44 PM GMT+05:00

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April 11, 2024 (MLN): Global trading and universal banks (GTUBs) will report mixed performance for 1Q2024, driven by lingering uncertainties about the start and the pace of the policy rate tightening cycle in the US and Europe, says Fitch Ratings in a new report.

Additionally, by contrasting economic growth dynamics in both regions and, for some peers, ongoing or recently completed restructuring.

While Fitch believes that overall market dynamics were conducive to sound trading performance in the first quarter of the year, GTUBs with large and well-diversified investment banking franchises should benefit from revenue tailwind in underwriting and advisory activities during the remainder of 2024.

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