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ECB plans new bank inspections focussing on profits and tech By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO. The European Central Bank logo, 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. Enria said that further engagement is planned with banks, and supervision activities will be undertaken in the digitalisation area. Pilot inspections are expected to follow.

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