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.