Investors are concerned about European bank earnings — here is why

Investors are concerned about European bank earnings — here is why

UK bank Barclays is due to report its first-quarter numbers on Thursday, April 25.

According to data firm Refinitiv, Barclays is expected to report a first-quarter net profit of 875.6 million pounds, as compared to the heavy losses of 764 million pounds reported in the first-quarter of 2018.

Earlier this year, Barclays reported a full-year net profit of £1.4 billion ($1.82 billion) for 2018, swinging back to the black after 2017 losses. The bank also set aside a Brexit provision of £150 million in its 2018 results.

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However, the bank remains under pressure from its shareholders over its turnaround strategy. In February, U.S. hedge fund Tiger Global Management dumped all of its stake in Barclays. The New York-based hedge fund had been one of the top 10 investors in Barclays and held a stake of 2.5 percent.

Barclays' first-quarter numbers come at a time when the bank is also facing pressure from activist investor Edward Bramson forcing his way on to the board. Bramson's Sherborne Investors holds a 5.5 percent stake in the bank.

According to Reuters, Bramson wants Barclays to reduce resources allocated to its investment units.

Barclays' shares are down more than 21 percent over a 12-month period.

#Tech Europe

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