European banks that are focused on one specific market or have limited cross-border activities will likely fare better than those that don’t, the CEO of Austrian banking group Erste told CNBC Monday.
Since the global financial crisis of 2008 and the euro zone sovereign debt crisis of 2011, European banks have struggled to improve their balance sheets. According to Andreas Treichl, the CEO of Erste, they still have a long way to go before being in a “good shape.”
