ECB's Costa says future still looks tough for Portugal's banks

Reuters

LONDON (Reuters) - Portugal's banks still face a tough road ahead, weighed down by a range of factors including rising bad loans and weak profitability, European Central Bank Governing Council member Carlos Costa said on Wednesday.

The banks also needed to adjust to lower volume of credit and seek out new strategic shareholders, Costa, who also heads Portugal's central bank, told an event hosted by the OMFIF think tank on Wednesday.

(Editing by Jeremy Gaunt)

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