BUSINESS IN SHORT

EU banks' stress-test results released

MOST European banking groups that have affiliate operations in Slovakia are sufficiently capitalised to withstand macroeconomic turmoil, according to the results of EU stress tests that were released on July 15 by the European Banking Authority (EBA), the SITA newswire reported.

MOST European banking groups that have affiliate operations in Slovakia are sufficiently capitalised to withstand macroeconomic turmoil, according to the results of EU stress tests that were released on July 15 by the European Banking Authority (EBA), the SITA newswire reported.

Österreichische Volksbanken AG of Austria, active in Slovakia via Volksbank Slovensko, was the only bank with operations in Slovakia that was among the seven banking groups whose core Tier 1 capital ratio fell below the 5-percent minimum required by the EBA.

“Regarding the results of the stress tests, the appropriate Austrian bodies have taken necessary steps,” the Finance Ministry stated, as quoted by SITA. “Although Volksbank Slovensko, the Slovak arm of the [Österreichische Volksbanken] banking group was included in the tests only indirectly and although the results do not require intervention on the part of the Slovak authorities, the National Bank of Slovakia (NBS) will closely watch the situation at the bank.”

Fourteen Slovak banks, including eight that were indirect participants in the EU-wide stress tests, underwent a national stress test based on individual scenarios and methodologies earlier this year.

“The outcome of tests carried out by the NBS has proved the resilience of the Slovak banking sector against adverse macroeconomic scenarios as well as the sector’s stability,” the Finance Ministry wrote in a statement, SITA reported.


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