10/26/2020, 11:51 AM (Source: TeleTrader)
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ECB's De Cos predicts rise in bad loan ratios

Governing Council member Pablo Hernandez de Cos of the European Central Bank (ECB) stated on Monday that the current outlook suggests "a significant increase" in banks' bad loan ratios in the coming fiscal quarters "even in a more benign scenario."

De Cos also warned that banks should "remain prudent" when it comes to dividend policy while the coronavirus crisis is still ongoing. The Spanish National Bank governor added that he "sees scope" for bank consolidation in Spain and in the European Union at large, explaining that the move would enhance profitability.

Breaking the News / DJ