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EBA Says Banks Predict Flat Profits, Higher Fees In 2019

Law360 (January 8, 2019, 6:07 PM EST) -- Most of Europe's top banks are pessimistic about making money next year, expecting profits to remain flat even as their fees and commissions rise, according to a new report from the European Banking Authority.

Seventy percent of banks in the European Union predict subdued profits and anticipate cutting operating costs by automating tasks and laying off workers to drive income up over the next six months to a year, the bloc's banking regulator said Tuesday.

The EBA urged banks to increase profits, which are down from June due to decreases in asset management and payment services fees.

The regulator on Tuesday published...

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