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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

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