WASHINGTON—President Barack Obama, in a radio interview Wednesday, said further banking industry reforms were likely needed to limit excessive risk-taking beyond the changes written into the 2010 Dodd-Frank financial law.

In an interview with the Marketplace radio program, Mr. Obama lauded the nearly four-year-old Dodd-Frank law for requiring large banks to hold bigger capital cushions and for tightening consumer protection rules. But he singled out bank trading desks as being a particular area of lingering concern.

"What I've said to my economic team, is that we have to continue to see how can we rebalance the economy sensibly, so that we have a banking system that is doing what it is supposed to be doing to grow the real economy, but not a situation in which we continue to see a lot of these banks take big risks because the profit incentive and the bonus incentive is there for them," Mr. Obama said, according to a transcript posted on Marketplace's website. "That is an unfinished piece of business."

Mr. Obama also suggested that some changes could include "restructuring the banks themselves."

"Now what we've been able to do is to try to prevent taxpayers from being the folks who are left holding the bag," he said. "But it's still not a real efficient way for us to run a financial system. That's going to require some further reforms. That's going to require us looking at additional steps that we can take."