European investment banks show rewards of slimming plans

Cost-cutting and resilient trading revenues helped Europe’s investment banks keep pace with their US rivals last quarter and boosted prospects that their slimmed-down operations can deliver rewards for investors.

First-quarter results from Europe’s big four investment banks - Deutsche Bank, Barclays, UBS and Credit Suisse - showed a performance nearly identical to that of their US peers.

“They have all shown cost discipline. Cost control is very much the order of the day and will be for several years to come,” said Simon Maughan, analyst at Olivetree Securities.

via Business feed http://www.scmp.com/business/banking-finance/article/1227451/european-investment-banks-show-rewards-slimming-plans