{"id":3397,"date":"2024-02-28T14:34:44","date_gmt":"2024-02-28T12:34:44","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=3397"},"modified":"2024-02-28T14:34:44","modified_gmt":"2024-02-28T12:34:44","slug":"european-banks-set-to-return-record-sums-to-shareholders","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=3397","title":{"rendered":"European banks set to return record sums to shareholders"},"content":{"rendered":"

European banks are set to hand investors a record 120 billion euros ($130 billion) in dividends and share buybacks this year, analysts say, returning more of the profits reaped from a period of higher interest rates.Bank of Ireland (BIRG.I) on Monday became the latest lender to announce a hike in payouts, joining others including BNP Paribas (BNPP.PA), Deutsche Bank (DBKGn.DE) and Santander in promising more cash for their investors.Switzerland\u2019s UBS (UBSG.S) this month pledged to restart its buyback programme, while state-owned Italian lender Monte dei Paschi di Siena (BMPS.MI) announced it would pay its first dividend in 13 years.UniCredit (CRDI.MI) said it was giving away all of its 2023 profits \u2013 8.6 billion euros including 5.6 billion euros worth of buybacks \u2013 and that it would share 90 per cent of 2024\u2019s net profit.Across European banks, dividend payouts for 2024 will total nearly 80 billion euros, with buybacks taking overall capital returns to shareholders close to 120 billion euros, a record high, Bank of America analysts estimate.Over the next 15 months, which takes in the final dividend payments yet to be made for 2023 results, as well as the forecast 2024 dividend and planned buybacks, banks are expected to have paid out a total of 172 billion euros \u2013 about 17 per cent of their market capitalisation, BofA said.Banks, after years of depressed share prices as interest rates hovered near zero, have reaped huge profits from the gap between the rates they charge borrowers and how much they pay for deposits.This has lifted their share prices, and executives have turned to dividends and buybacks as the favoured way to deploy their excess capital.UBS analysts estimate the top 50 European banks will have a dividend yield of 7.3 per cent in 2024, up from 5.8 per cent in 2022. The yield is expected to drop to 7.2 per cent in 2025 and then hit 7.4 per cent in 2026, UBS analysts calculate.Still, many lenders\u2019 share prices trade significantly below their book value and concerns about falling interest rates and a weaker economic outlook is worrying some investors.Analysts expect overall bank capital returns to drop back from record highs from next year as buybacks become less generous, with BofA estimating distributions for 2025 of between 110 and 120 billion euros.($1 = 0.9223 euros)Follow the
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European banks are projected to distribute a record 120 billion euros in dividends and share buybacks to investors in 2023, driven by profits from higher interest rates. Bank of Ireland and other major banks like BNP Paribas, Deutsche Bank, and Santander have announced increased payouts. UBS is restarting its buyback program, and Monte dei Paschi di Siena will pay its first dividend in 13 years. UniCredit plans to distribute all of its 2023 profits, totaling 8.6 billion euros, including 5.6 billion euros in buybacks, and aims to share 90% of its 2024 net profit. Dividend payouts for 2024 are expected to reach nearly 80 billion euros, with total capital returns to shareholders nearing 120 billion euros. Over the next 15 months, European banks are anticipated to pay out a total of 172 billion euros, about 17% of their market capitalisation. The profit increase is attributed to the gap between interest rates charged to borrowers and paid on deposits, boosting share prices. The top 50 European banks are expected to have a dividend yield of 7.3% in 2024. However, concerns about falling interest rates and a weaker economic outlook have some investors worried, with predictions of reduced bank capital returns starting from next year.<\/p>\n","protected":false},"author":3,"featured_media":3398,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[355,611,186,189,3,612,250,899,187,618,444],"class_list":["post-3397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-banking-and-finance","tag-banks","tag-business","tag-businesspick","tag-cyprus","tag-deposits","tag-google","tag-interest","tag-international","tag-top","tag-zero"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\nEuropean banks set to return record sums to shareholders<\/title>\n<meta name=\"description\" content=\"dividend payouts. dividend payouts, share 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