Returns via buybacks and dividends higher than any year since before the financial crisis
European banks are on course to return more than €120bn to shareholders off the back of their 2023 results as they pass on the benefits of surging interest rates to investors. Bosses of European lenders are under pressure to boost their valuations and win over investors, who have been spooked by dividend bans and windfall taxes across the continent in recent years.
Among the most eye-catching distribution announcements this year are Italy’s UniCredit, which promised to pay €8.6bn — its entire profit haul for 2023 — to investors. On Monday, Barclays pledged to return £10bn to shareholders over the next three years, while on Friday Standard Chartered said it would return $5bn over the same period.
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