November 18, 2019 / 2:06 PM / 3 months ago

ECB's De Cos says banks' low profitability could spur risk-taking

MADRID (Reuters) - In a slowing global economy banks’ low profitability could spur appetite for risk-taking at a moment when interest rates are expected to stay low for longer in many countries, European Central Bank (ECB) policymaker Pablo Hernandez de Cos said on Monday.

“Within a more uncertain global macroeconomic scenario, low bank profitability and growing appetite for risk-taking are some of the main challenges for banks,” De Cos said.

Hernandez de Cos, who also heads the Bank of Spain, said that geopolitical uncertainties could have an impact on financial stability in Spain.

Reporting By Jesús Aguado; editing by Elena Rodriguez

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