European banks' profits up in 2014 - Although European banks have not returned to their pre-crisis profit rates, their own capital yield rates stood at an average of 8% in 2014 and operational results have subsequently improved, according to a report in Les Echos newspaper. In Italy, UniCredit has begun making profits again with a net result of €2 billion last year, compared with net losses of €13.9 billion in 2013. Its fellow Italian bank, Intesa Sanpaolo, achieved a net result of €1.2 billion in 2014, compared with losses of €4.5 billion 2013. Net results have, however, sometimes been affected by very costly litigation. This was the case for the French BNP Paribas bank, which last year made a net result of €157 million after the $9 billion fine imposed by the US authorities for failing to respect an embargo (its net result would have normally exceeded €7 billion). The stock of provisions for litigation amounted to €3.2 billion for Deutsche Bank, and Barclays plunged into the red in 2014, after having put £1.25 billion aside for possible fines in the exchange rate manipulation affair. For the other major European banks, the net results are as follows: 1) Santander: €7 million, €5.8 million in 2013; 2) Deutsche Bank: €1.66 billion, €666 millions in 2013; 3) Société Générale: €2.7 billion, €2 billion in 2013; 4) HSBC: $13.69 billion, $16.2 billion in 2013; 5) Royal Bank of Scotland: loss of £3.47 billion, loss of £9 billion in 2013; 6) BBVA: €2.62 billion, €2 billion in 2013; 7) UB: 3.57 billion Swiss francs, 3.17 billion in 2013. The article concludes that prospects for 2015 are encouraging. (Isabelle Lamberty)