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Makuch Expects Banks in Slovakia to Have Done Well in EU Stress Tests
Monday 26 July 2010 Zoom in | Print page
Bratislava, July 26 (TASR) - Slovakia's central bank (NBS) governor Jozef Makuch said on Monday that he expects the subsidiaries of the European banks operating in the country to have passed the stress tests conducted by European Union late last week that have boosted share values in Europe's largest banks.
"The parent banks have fared very well in the stress tests. We will receive data relating to the subsidiaries based in Slovakia around August 6," he told reporters after talks with Premier Iveta Radicova.
Stress tests were designed to discover whether banks are able to cope with another recession – including a debt crisis – in some member states.
Best performing Slovak foreign banking groups in the stress tests are Intesa SanPaolo (VUB) with 8.2 percent capital adequacy ratio, followed by Erste Group (Slovenska Sporitelna) on 8 percent, Raiffeisen Zentralbank (Tatra banka) on 7.8 percent, and Unicredit (the product of a complex merger in Slovakia involving Austrian and German banks) on 7.8 percent.
According to NBS, subsidiaries of foreign banks make up 78 percent of the assets of Slovakia's banking sector.
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