Ignazio Visco: Recent developments and open questions in the European banking industry

Speech by Mr Ignazio Visco, Governor of the Bank of Italy, at the Annual Convention of the Asociación de Mercados Financieros, Madrid, 6 November 2017.

Ladies and Gentlemen,

It is an honour and a privilege to address this assembly. I would like to express my gratitude to Governor Linde and President Prados del Amo for the kind invitation to be here today. I will take this opportunity to share with you some reflections on the state of the European banking industry, of which Spanish banks are a fundamental part.

I will start with some considerations on the evolving structure of the sector; I will then move on to the issue of profitability; and I will conclude with my take on the main open questions we need to address over the coming months.