On Thursday, Barclays, Santander, and Deutsche Bank announced their respective first quarter results.  It was a mixed bag, with BCS reporting a rise in profits, while both DB and STD reporting drops in earnings.  As of 12:30 ET, their share prices reflect their divergent results.  While Barclays shares are up, it seems that most of the European bank stocks are down - including UBS and Credit Suisse, which didn't report earnings today. Here are brief comments on today's numbers: 1.  Barclays reported a better-than-expected increase... in Q1 earnings, reflecting stronger investment banking results and improving credit quality.  Like many European financial firms, Barclays has been cutting costs and jobs, as it deals with the economic malaise in the region.  The bank has announced that about 3,500 positions will be eliminated, scaling back some businesses in slower growing regions and is focusing on its main retail, corporate and investment banking businesses. Income in the investment banking business rose 3%, on strength in debt, currency and commodities trading.  Some services like equity underwriting continued to face pressure from the economic troubles in Europe.  The bank’s results were also buoyed by an improvement in credit conditions.  Overall, charges for bad loans fell 16%, to £778 million, although the quality deteriorated in Europe.  [Dealbook, 4/26/12] 2.  Banco Santander of Spain announced that net profit fell 24%... in the first 3 months of the year, as the bank set aside billions of euros to cover rising levels of bad loans.  The Spanish bank’s home market continues to struggle from the European debt crisis.  Santander’s other businesses — particularly in Latin America, where the bank now makes more than 50% of its profit — also have begun to slow down.  No information to be reported about the performance of STD's investment banking unit. 3.  Deutsche Bank, Germany's largest bank, said profit had fallen 34% ... in Q1, more than expected, as the European debt crisis continued to depress fees from trading and other investment banking activities.  The decline in earnings, in part, reflects an expense of €210 million related to lawsuits against the bank. Like most of its peers, Deutsche Bank is earning lower commissions from trading of stocks, bonds and derivatives because turmoil and uncertainty caused by the European debt crisis are making customers less active in financial markets. Under pressure from regulators, Deutsche Bank is also cutting back on riskier businesses, which should make it more resilient but will probably weigh on profit. Deutsche Bank said it was on track to increase the amount of capital held in reserve and meet tougher regulatory standards. Deutsche Bank said revenue in its corporate and investment bank unit fell 8%, to €6.2 billion, from €6.7 billion in the period a year earlier. DB's announcement comes shortly before a change in top management.  Josef Ackermann, CEO for the past decade, is retiring at the end of May.  Anshu Jain, head of the investment bank, and Jürgen Fitschen, another member of the management board, will share chief executive duties.