Slovak banks successful in stress tests

SLOVAKIA’s three biggest banks – Slovenská sporiteľňa, VÚB and Tatra Banka have passed the European Central Bank’s (ECB) financial health tests and will not need to raise their capital. This applies also to their parent companies, the TASR newswire reported on October 26.

SLOVAKIA’s three biggest banks – Slovenská sporiteľňa, VÚB and Tatra Banka have passed the European Central Bank’s (ECB) financial health tests and will not need to raise their capital. This applies also to their parent companies, the TASR newswire reported on October 26.

“Results of the ECB complex evaluation proved that Slovak banks are stable, trustworthy and running healthy,” head of the National Bank of Slovakia Jozef Makúch said, as quoted by the SITA newswire. “In comparison with other European banks they reach more favourable results in a majority of indicators.”

ECB ran stress tests at 130 banks with two elements - a point-in-time asset quality review, which examined the adequacy of banks’ asset and collateral valuations, and a forward-looking stress test in which balance sheets were subjected to ‘stress scenarios’, according to TASR.

Altogether 26 banks of the eurozone failed to pass the tests while nine of them were from Italy and three from Greece. At the end of last year they lacked €35 billion.

(Source: TASR, SITA)

Compiled by Roman Cuprik from press reports
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