Loan-loss provisions take a smaller bite out of EU banks in Q3
Set-asides fell 57% quarter on quarter
Provisions set aside for ailing loans at banks in the European Union fell sharply over the third quarter, though some continued to plump their reserves in anticipation of further Covid-inspired economic turmoil.
Aggregate expected credit loss (ECL) provisions taken by 15 EU banks tracked by Risk Quantum totalled €9 billion ($10.6 billion) in Q3, down 48% on the Q2 amount.
Some banks even reported reserve releases for Q3, whereby earnings socked away to cover troubled loans are sent back into
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