Corporate banking may benefit as economic sentiment rises

Corporate banking groups could benefit as new data reveals economic sentiment is improving across Europe.

The European Commission revealed today (July 29th) business confidence is up in the majority of member states, with the most noteworthy rise seen in Germany as the Economic Sentiment Indicator (ESI) grew four points in the country.

Nearby nations also showed positive trends, with commercial assurance in France and Poland up 2.6 points and 1.9 points respectively.

The data could have a positive effect for corporate banking providers, as improved profitability may drive businesses to seek wealth management and investment services.

Results from Spain revealed the worst economic sentiment, as it declined by 2.2 points in the southern European country.

In June, the Dow Jones ESI moved up slightly, indicating an improvement in US financial performance.

It rose above 40 for the first time since 2008 to reach a peak of 40.3, up from 39.4 in the previous month.ADNFCR-2318-ID-19912587-ADNFCR