, Columnist
BNP and Deutsche Bank Are a Bit Too Excited About Deals
European optimism about investment banking revenue looks overcooked. Analysts are skeptical.
Towering ambitions!
Photographer: Alex Kraus/Bloomberg
US investment banks are worried they will lose their competitive edge globally if proposed capital increases get pushed through. Some European rivals seem to be taking the message a bit too seriously.
BNP Paribas SA and Deutsche Bank AG both had bullish growth targets for investment banking and trading in their full-year results on Thursday, and both saw some skepticism from analysts. Banco Santander SA, which also reported this week, has been building its capabilities, especially through US hiring, in the hopes of grabbing more business too.