Europe's biggest banks will experience a gradual recovery in revenue, rather than a robust return to growth, according to ratings agency Fitch.

The banks' provisions for bad loans will probably peak this year, Fitch said in its latest Large European Banks Quarterly Credit Tracker. Losses on loans, however, will continue to rise for the remainder of 2020 and throughout 2021 "as support measures for borrowers are phased out and the extent of the damage to the economy becomes more apparent".