ECB's De Guindos warns higher deposit costs will hit banks' lending income
© Reuters. FILE PHOTO: European Central Bank Vice-President Luis de Guindos arrives at the Presidential Palace for a meeting with Cyprus President Nikos Christodoulides in Nicosia, Cyprus, October 4, 2023. REUTERS/Yiannis Kourtoglou/File Photo
"That is one of the reasons why the market is discounting that the improvement of margins that has taken place may be affected going forward, this improvement may not be as stable ," he said. As of September, Spanish banks offered on average a return on one-year household deposits of 2.33%, compared to 3.09% in the euro zone as a whole.
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