Europe's banks must brace for coming digital storm - ECB's Schnabel

BERLIN (Reuters) - Low profitability at European banks just when they need to invest to stay competitive in the digital era risks triggering a vicious circle of underinvestment and further poor performance, said Germany's nominee to the board of the European Central Bank.Isabel Schnabel, a prominent economist, is set to take Germany's slot on the board of the euro zone central bank, where she will succeed Sabine Lautenschlaeger, who resigned amid discord over the ECB's dovish fiscal..