July 4, 2019 / 10:13 AM / 17 days ago

Euro zone bank profitability to dip this year: ECB's Enria

FILE PHOTO: Andrea Enria, chairperson of the European Banking Authority, speaks at Reuters Summit interview in London, Britain, September 25, 2017. REUTERS/Afolabi Sotunde/File Photo

FRANKFURT (Reuters) - The euro zone bank sector’s profitability will dip this year before recovering over the following two years, European Central Bank supervisor Andrea Enria said in Lisbon on Thursday.

The combined return on equity for banks supervised by the ECB will dip to 5.4% this year from 6.7% a year a earlier, then rise to 7.3% and 7.9% in the subsequent years, Enria said, according to the slides of his presentation.

Reporting by Balazs Koranyi; Editing by Toby Chopra

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