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European Banks 2015 Forecasts Mostly Negative: Moody’s

© AP Photo / Mark LennihanMoody's
Moody's - Sputnik International
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Weak macroeconomic conditions will continue to weigh on Europe's banking sector in 2015, according to forecast of Moody's Investors Service.

The European Central Bank (ECB) president Mario Draghi - Sputnik International
Draghi Says No Stimulus in Eurozone Till Next Year, Markets Retreat
MOSCOW, December 8 (Sputnik) — The economic outlook for European banks in 2015 will be hampered by weak profits, risks of bail-ins and litigation charges, Moody's Investors Service announced Monday.

"Weak macroeconomic conditions will continue to weigh on Europe's banking sector in 2015 and banks' low overall profitability implies that Europe's banking sector remains structurally vulnerable," Moody's Europe, Middle East and Africa financial institutions group managing director said in a statement.

European Central Bank building in Frankfurt - Sputnik International
European Central Bank Eases Investor Concern About Pro-Inflation Program
The credit rating agency's forecast follows the European Central Bank's (ECB) reduction of the euro zone's 2015 growth and inflation estimates last week. ECB chief Mario Draghi reduced the single currency area's Gross Domestic Product and inflation numbers for next year to 1.0 and 0.7 percent respectively. Falling oil prices and a weakening economic outlook were cited as reasons behind the 0.7 percent reduction from the ECB's September forecast.

Draghi pledged to introduce stimulus measures next year to offset deflation, following in the footsteps of British, Japanese and US central banks.

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