BaFin President Mark Branson, speaking in a podcast with Finanz-Szene broadcast on Tuesday, said that 2023 was especially good for profitability but 2024 will be "more difficult".
Higher interest rates and the income that generates was a boon to banks in 2023, Branson said in the interview.
"But a lot of costs in the loan books come with a time lag and we will see that in 2024 and in the following years," he said.
(Reporting by Tom Sims, Editing by Linda Pasquini)
