ECB plans new bank inspections focussing on profits and tech

FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski//File Photo

FRANKFURT (Reuters) – The European Central Bank is planning new inspections at the banks it supervises to check their technology and their ability to generate profits, the ECB’s top supervisor Andrea Enria said on Wednesday.

“The sustainability of banks’ business models continues to be one of our supervisory priorities,” Enria said. “Further engagement with banks and supervisory activities are also expected in the area of digitalisation, including the launch of pilot inspections.”

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