Spanish watchdog says concentration of banks not behind lower deposit returns

Antitrust Watchdog Findings: Spain's antitrust watchdog, CNMC, concluded that the low number of banks is not the main reason for lower deposit returns in Spain compared to other euro zone countries, citing moderate concentration levels in the banking sector.

Recommendations for Improvement: The CNMC identified issues such as high costs of switching banks and lack of financial education as factors affecting deposit returns, recommending that banks enhance product access, improve transparency, and reduce switching costs.