Bank CEO says the European financial system is not in good shape yet [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
Ralph Orlowski | Getty Images News | Getty Images 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. The issue is that the European financial system is just not in a really good shape yet, Treichl told CNBC's Street Signs. He noted that Scandinavian banks and others that have limited activity across Europe are in a stronger position. If you look at certain banks, in certain countries, they are doing extremely well, he said. Most of them are actually non-cross-border banks. You look at Scandinavian banks or banks that are located in Spain b
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