determinants of bank profitability. Profitability remains higher for Spanish banks than for European peers, especially supported by …-to-asset ratios. Panel regression analysis suggests that Spanish banks' profitability is influenced by a combination of structural and … recommends further steps to reduce NPLs and legacy assets, continued cost-cutting measures to enhance the profitability of …

profit shock, could double the amount of debt-at-risk held by non-SME firms and; (iii) exchange rate shocks appear manageable …