The European Central Bank announced that the profitability of the largest banks in the euro area collapsed in the second quarter of the year, despite these banks keeping their bad loan balances low.
>According to Reuters, the bank stated in its quarterly statistics that the return on capital in the first half of the year, the peak of the Corona pandemic, was 0.01 percent, which is sharply less than 6.01 percent in the same period a year ago, as no less than seven of the 19 countries in the eurozone recorded negative returns.
Meanwhile, the value of bad loans reached 503 billion euros, which is not much more than 501 billion euros in the previous three months, most likely because the repayment of loans and guarantees Governmental Help banks keep loans as functional.
