According to Goldman Sachs analysts, the coronavirus will reduce the net profit of European banks by €120 billion euros over the next three years. Banks in the south, especially in Italy and Greece, are most vulnerable due to the low level of profitability and increased riskiness of their portfolios. The expected loss of profitability is equivalent to 27% of the total amount and will be due to increased credit risk and lower incomes, while expenses are expected to remain unchanged. Banks will face the prospect of reduced profits from already very low interest rates. Goldman Sachs states that investors should prioritize systematically important banks, such as BNP Paribas SA, ING Groep NV, Banco Santander SA and HSBC Holdings Plc, as well as banks in Central and Eastern Europe, such as Erste Group Bank AG or Bank Pekao SA.