Banks across Europe have started to feel the heat as markets eagerly await their second-quarter earnings.
Already struggling under the weight of non-performing loans, European banking stocks have been hit since the U.K. voted to leave the European Union on June 23. The Euro Stoxx Banking index was down nearly 7 percent a week after Brexit - its worst since August 2015. The index is currently down over 30 percent year to date.
Major European banks like Deutsche Bank, Royal Bank of Scotland, Lloyds and Credit Suisse saw their shares in free-fall after the referendum's results were announced. In the UK, Royal Bank of Scotland was the worst-hit among all banks after the bank saw its shares plunge by more than 30 percent since June 24.
These prices have seen a rebound since Brexit vote but still continue to be in negative territory. Share price in Barclays and RBS was down nearly 2 percent in current trade on Tuesday. Second-quarter results in Barclays are due to be announced on Friday, while RBS is due to announce its results next week along with HSBC.