EU watchdog tells banks to get a grip on costs, merge or close
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LONDON (Reuters) - Banks in the European Union could close branches, merge or leave the market to reverse a "bleak" outlook for profitability, the bloc's banking watchdog said on Friday.The European Banking Authority's (EBA) sixth annual dive under the bonnet of top banks found that the average capital ratios for lenders - a key measure of financial health - was 14.4% in June, little changed from the previous year.The percentage of poorly performing loans on bank books has fallen to an average..