Financial reporting of European banks in the context of Covid-19: June 2021 update

How has Covid-19 affected the financial performance of banks in Europe?

We have analysed the 2021 interim reports of 26 banks in 11 European countries to better understand the impact of Covid-19 on their financial performance in H1 2021. This study is the third in its series and follows on our second edition of the report released in May 2021.

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Key findings

  • In the first half of 2021, all banks in the sample present a significant decrease in their ECL charge compared to the same period in 2020.
  • Most of the banks that experienced the highest increase in ECL charges last year are now among those with a net ECL profit in the first half of 2021.
  • 100% out of 18 banks that disclosed their amounts both in H1 2021 and YE 2020 have a cumulated overlay that is an ECL charge.
  • The change in overlays represents on average 54% in ECL profit or loss before overlays in absolute value.

Read the report below to find out more.

Additionally, Mazars experts analyzed the financial statements of 9 banks in Poland in terms of asset structure, financial results and loan portfolio quality to understand the impact of changes in the economic environment on their assets and financial results.

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