Fernando Restoy: Challenges facing the retail banking sector

Remarks by Mr Fernando Restoy, Deputy Governor of the Bank of Spain, at the dinner event organised by the European Savings and Retail Banking Group (ESBG), Madrid, 17 November 2016.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Good evening.

It is a pleasure to have the opportunity to participate in this event and to address this eminent group of bankers. I am grateful to Isidro Fainé and José María Méndez for inviting me. I hope that you have now got your breath back and recomposed yourselves after viewing Picasso's impressive and to some extent disheartening masterpiece, Guernica. You certainly need a strong mind to discuss banking issues nowadays.

I imagine that probably much of the agenda of your regular meetings is devoted to exchanging experiences on how financial institutions such as those participating in the European Savings and Retail Banking Group (ESBG) are addressing the current challenges affecting the entire financial sector in the current post-crisis period. Allow me to attempt to make a modest contribution to that discussion.