October 10, 2019 / 7:10 AM / 2 months ago

Euro zone banks should consider mergers to tackle profits drop: Centeno

FILE PHOTO: Eurogroup President Mario Centeno arrives at the European Union leaders summit in Brussels, Belgium, June 21, 2019. REUTERS/Piroschka van de Wouw/File Photo

LUXEMBOURG (Reuters) - European banks continue to face profitability risks and should consider mergers when necessary, the head of the Eurogroup of euro zone finance ministers Mario Centeno said on Thursday.

“The profitability outlook of banks remains a key concern. Further changes to business models should be encouraged. Where needed, consolidation should also play a part,” Centeno told a news conference after a meeting with euro zone’s top banking supervisors.

Reporting by Francesco Guarascio @fraguarascio; Editing by Raissa Kasolowsky

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