ECB Warning That Bank Profits Will “Remain Weak” Throughout The Next Year

The European Central Bank warned in its latest review of financial stability that European banks will not see profits return to pre-pandemic levels before 2022.

Euro-zone lenders have struggled to make big profits over the past decade in the wake of the 2008 global financial crisis, with stronger regulatory scrutiny and lower interest rates.

However, the recent crisis caused by the Coronavirus has worsened the final results and this will continue to be felt in the coming months, according to the European Central Bank.