Publicaciones

In the ten years from the advent of the financial crisis, various quantitative indicators suggest that although the European banking sector is today considerably more solvent, it has not managed to fully dispel concerns about the quality of its assets. Moreover, the sector faces important challenges in terms of profitability, with margins still significantly below pre-crisis levels. The five major Spanish banks posted a combined net profit of 13.44 billion euros in 2017, up 53.5% from 2016 and nearing the levels reported in 2008 – at the start of the crisis. Compared to the main European markets, Spanish banks rank in the mid to upper quadrant in terms of profitability and efficiency, albeit still faring below average on capital adequacy. The restructuring forced by the crisis is ongoing, particularly as regards digitalisation, as banks strive to bring about more radical transformation in the ways customers are serviced in the years to come. In this context, a more qualitative analysis of the situation reveals digitalisation as the best opportunity for lifting profitability, framed by the choice of a range of competitive alternatives. Spanish banks are relatively well positioned compared to their European counterparts for tackling the digital challenge, although we do not rule out that relevant changes in the competitive landscape and service channels may still materialise.

Carbó, S. y F. Rodríguez (2018): “Bank profitability ten years after the crisis: The digital opportunity”, SEFO – Spanish Economic and Financial Outlook, 7(2), marzo, pp. 15-27.