NEWS AND RESOURCES

27 October 2014

European Bank Stress Test

According to the latest report on new banking health checks performed by the European Central Bank and the European Banking Authority, one in five European banks have failed crucial tests of their financial strengths including 25 banks that showed capital shortfall.

Most noticeably the banks that failed the stressed test include Eurobank Ergasias from Greece and the oldest surviving bank in the world Monte dei Paschi di Siena of Italy both had capital shortfall of more than 4 Billion Euro each. Furthermore, none of the Cyprus banks participated in the stress test including Co-operative Central Bank Ltd, Bank of Cyprus Public Company Ltd and Hellenic Bank Public Company Ltd were able to pass the latest round of stress test. A complete list of participating banks with shortfall include Eurobank Ergasias, Banca Monte dei Paschi di Siena S.p.A., National Bank of Greece, Banca Carige S.P.A. - Cassa di Risparmio di Genova e Imperia, Co-operative Central Bank Ltd, Banco Comercial Português, Bank of Cyprus Public Company Ltd, Österreichische Volksbanken-AG, Permanent tsb plc., Veneto Banca S.C.P.A., Veneto Banca, Banco Popolare, Banca Popolare di Milano, Banca Popolare di Vicenza, Piraeus Bank, Credito Valtellinese, Dexia NV, Banca Popolare di Sondrio, Hellenic Bank Public Company Ltd, Münchener Hypothekenbank, AXA Bank Europe, C.R.H. - Caisse de Refinancement de l’Habitat, Banca Popolare dell'Emilia Romagna, Nova Ljubljanska banka d. d., Liberbank and Nova Kreditna Banka Maribor d.d.

Clients considering opening bank account or putting money into banks in Europe should be mindful of Deposit Guarantee Schemes for each of the banks. 

How we can help

ALCPA has been established in Hong Kong since 1978 and has been a qualified intermediary with various banks in Hong Kong and overseas enabling us to obtain first-hand knowledge and requirements on the bank opening procedure. Our team also consists of ex-employees of banks and has connection worldwide to open bank accounts for clients suitable for different needs even in cases where client is not able to visit the banks personally.

Please feel free to contact us should you require more information on the above.

CONTACT INFORMATION

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