World Business News

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Dozens of Euro banks in need of more capital

Zone(s): Europe ¦ Sector(s): Banking
[23 June 2014, CITY A.M.]  By Michael Bow: Nearly two dozen banks across Europe expect to raise more capital following central bank stress tests, an anonymous poll of lenders has found. A total of 22 banks out of 294 said they would be required to boost their coffers after the Asset Quality Review (AQR) by the European Central Bank is finished, with a further 43 banks saying they may need to raise further capital, according to EY. The results come amid alarm in Eastern Europe after the Bulgarian government was forced to nationalise the country’s fourth biggest bank Corporate Commercial Bank on Friday following a run on the institution.

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