Competitive EU banking sector is essential to Europe’s economic future

BusinessEurope today welcomed the European Commission's Bank Competitiveness Communication, calling it an important step towards strengthening the competitiveness of the EU banking sector and boosting banks’ capacity to finance European companies and investments. BusinessEurope Director General Markus J. Beyrer said:

"A competitive and efficient EU banking sector is essential to Europe’s economic future. As European companies will continue to rely heavily on bank financing for years to come, banks must be able to provide funding at competitive prices and support businesses of all sizes.

The Commission’s Communication is a welcome step in the right direction and aligns with the objectives of the Savings and Investment Union strategy. Making EU banks competitive requires substantive proposals to increase risk sensitivity and remove unnecessary conservatism. The priority should now be to deliver targeted amendments to the banking rules that strengthen banks’ ability to finance the European economy, while safeguarding financial stability and preserving a global level playing field.

We therefore call on EU policymakers to recognise the urgency of these reforms and find an agreement by the end of 2027, as set out in the One Europe, One Market Roadmap."