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European banks could lose four years of economic progress to the crisis

More than a third of European executives expect a muted recovery that would lead to sharp drops in banks’ revenue, a squeeze on their capital, and a hit on return on equity.

European banking revenues after risk could fall roughly 40% and return on equity could drop by 11 percentage points next year in a in a muted-recovery scenario.
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To read the article, see “No going back: New imperatives for European banking,” May 18, 2020.