In this European Banking report, we therefore look at whether this is a moment that could bring about more far-reaching and much-needed changes to the industry.<\/p>\n
In the first section, we examine the financial outlook for Europe\u2019s banks. In the second section, we then look at how banks are responding and what steps will be taken to manage the upcoming credit environment and to rebuild financial returns. Lastly, we look at the banking system that Europe needs, and the collective effort required to get there from management, employee groups, shareholders, regulators, and policymakers over the next few years.<\/p>\n","protected":false},"excerpt":{"rendered":"
Europe\u2019s banks are set to take a large financial hit from the COVID-19 crisis, both in credit losses and in several years\u2019 worth of weaker earnings that are expected to follow. After a decade of strengthening balance sheets, however, the industry looks sufficiently robust to sustain the economic shock and expected credit losses. Banks have worked hard to maintain their operations and to support their customers during the lockdowns thus far, and they are partnering with governments to protect the economy. Some goodwill, in short supply for years, is being replenished.<\/p>\n","protected":false},"featured_media":46925,"template":"","meta":{"pmpro_default_level":"","tdm_status":"","tdm_grid_status":""},"product_brand":[],"product_cat":[766,2347],"product_tag":[3475,2321],"class_list":["post-76089","product","type-product","status-publish","has-post-thumbnail","product_cat-strategy-en","product_cat-study-library","product_tag-2016-2020","product_tag-oliver-wyman","pmpro-has-access","first","instock","shipping-taxable","product-type-external"],"yoast_head":"\n