His gestures said it all. My interlocutor, a journalist with extensive experience, spoke about the past and future of banks, swinging his hands from one extreme to the other. And the present? Perhaps this was where the problem lay. How are banks doing at this moment? In fact, I must admit that the answer to this question occupied a good part of the conversation we had.
No, it is not a matter of profitability. Although increasing revenue in an environment of zero interest rates, under difficult and uncertain regulation, and in an environment of growing non-bank competition does not seem easy. But our banks are accustomed to working in complex scenarios. Making the best of them, always with customer service as a priority. Precisely this latter point, under growing demand for digital services, also entails the possibility of continuing to improve the efficiency of Spanish banks. And the data show that the efficiency ratios of our institutions are among the highest in Europe.
And solvency? Honestly, it has been many months since anyone has raised this question with me. The numbers are clear. And the banks are transparent in showing them. And all of this in an environment of high liquidity. It is true that, in my opinion, excessive liquidity created by the ECB’s extreme measures. What is the limit of this policy? At present, the ECB itself does not seem to have it very clear.
