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Caixabank expects 2021 to be much worse than 2020, CEO says

MADRID, Oct 30 (Reuters) - Spanish bank Caixbank expects 2021 to be much worse than 2020, Chief Executive Gonzalo Gortazar told reporters on Friday.

The bank doesn’t need the provisions for loan losses it made during 2020, Gortazar said. “We booked (them) in 2020 because we think the scenario we will see in 2021 will be much worse,” he said.

Reporting by Inti Landauro; Editing by Nathan Allen

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