Greek banks show negative return on equity

TAGS: Banking

European Central Bank data out on Tuesday showed that eurozone banks’ return on equity dropped to 3.23 percent in the fourth quarter from 4.41 percent a year earlier.

Return on assets fell to 0.21 percent from 0.28 percent.

Banks in Italy, Portugal and Greece all had a negative return while banks in Germany, weighed down by excessive competition and inefficiency, made a return on equity of just 1.33 percent, the figures showed.