European banks are recording the lowest profitability in history but the number of bankers earning more than EUR1m is growing at an unprecedented rate. In 2015, there were more than 5,000 of them, up by 33 per cent compared with the previous year.
PZU's takeover of Bank Pekao SA could have become a catalyst for a wave of mergers and acquisitions in the Polish banking sector. It seems that this will have to wait until all the problems associated with the CHF denominated mortgages are resolved.
In its strategy for 2017-2020 the EBA will focus on the introduction of a leverage ratio and liquidity, evaluation of the banks' internal models, preparation of recovery plans, convergence of supervisory measures, consumer protection and financial innovation.