- Facing criticism the ECB's negative rate regime is crippling profits for EU banks, Mario Draghi says overcapacity is what's really hurting the sector. "The ensuing intensity of competition, exacerbates this squeeze on margins."
- A Citigroup report begs to differ: It notes share prices of banks in negative interest rate countries have fallen far more than those of lenders in regions with positive rates.
- Related ETF: EUFN
- Notable banks: Deutsche Bank (NYSE:DB), Santander (NYSE:SAN), Credit Suisse (NYSE:CS), ING (NYSE:ING), BBVA (NYSE:BBVA)
Draghi: Too much competition, not low rates hurting European banks
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