Covid-19 crisis creates room for M&A between euro zone banks

European Central Bank: "The coronavirus crisis will create room for mergers and acquisitions between euro zone banks, both domestically and cross-border, since it is reducing profitability margins."

MILAN: The coronavirus crisis will create room for mergers and acquisitions between euro zone banks, both domestically and cross-border, since it is reducing profitability margins, European Central Bank supervisor Andrea Enria said on Tuesday.

"This can only be so because the health emergency has reduced profitability margins", Enria told the Italian daily Il Sole 24 Ore, adding that the central bank was ready to launch a public consultation on how it evaluates mergers.