Corporate banking to benefit as Europe GDP increases 1%?

Corporate banking across Europe may have benefited, as Eurostat - the statistics office for the European Union - revealed gross domestic product (GDP) rose by one per cent in both the euro area1 (EA16) and the EU271 during the second quarter of the year.

Those in corporate banking could have seen increased demand for their services, as businesses profited from improved trade throughout the continent.

And seasonally-adjusted GDP for the three-month period was up 1.7 per cent year-on-year, having risen by around 0.5 per cent during the first quarter of 2010.

The statistics are based on data from the EA16 countries - those that use the single European currency - and the EU271 nations, which are part of the European Union.

Positive continent-wide trends could mean corporate banks are enjoying better trade globally, as investors and businesses gain buoyancy and economies move further from the threat of recession.

German GDP released this week helped improve financial confidence, as GDP for the second quarter of the year came it at 2.2 per cent - almost one per cent higher than predicted. ADNFCR-2318-ID-800024460-ADNFCR