EBA stated EUR 743 mn capital shortfall to EBA CT1 9% for Erste Bank
Raiffeisen Capital & Investment - 9 Decembrie 2011
The European Banking Authority (EBA) today published the final results of its stress test, which was conducted in connection with the sovereign debt crisis, amongst 71 European banks based upon the third quarter 2011.
A core tier 1 ratio of 9% (as per the stress test definition) was set as a benchmark and will have to be met by 30 June 2012. According to the EBA calculation, Erste Group Bank AG requires additional capital amounting to EUR 743 mn, thus confirming our estimated figure published with the Q3-results. Based on the same EBA methodology and estimates, Erste Group's core tier 1 ratio reached 8.4% at third quarter 2011. Under the EBA calculation, the core tier 1 ratio includes the participation capital provided by the Republic of Austria in the amount of EUR 1,224 mn, but excludes the hybrid capital and the participation capital provided by private investors in the amount of EUR 540 mn. Also, all EEA sovereign exposures taken into account are marked-to-market.
Erste Group confirmed that it will meet this requirement through retained earnings and selective disposal of non-core assets, but without any government support. We believe that further details will be presented today at Erste's CMD.
Sursa: http://www.rciro.ro
Tags: capital
erste
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