22.07.2011 16:20

Credit Europe Bank comfortably passes stress test, confirms is has no sovereign debt exposure to Greece, Ireland, Portugal, Spain and Italy



Although not required to, Credit Europe Bank voluntarily applied the European stress test in the framework of its sound risk management and transparency policy. The stress test results confirm our strong financial position with a Total Capital ratio of 11.8% and a Core Tier 1 of 8.6% after the two year stress scenario. Credit Europe Bank confirms it currently has no debt exposure to sovereign entities in Greece, Ireland, Portugal, Spain and Italy.

Results of stress test
The exercise was conducted by applying the scenarios, methodology and key assumptions provided by the European Banking Authority (EBA) on their website. As a result of the assumed shock under the adverse scenario, the estimated consolidated Total Capital ratio would change to 11.8% in 2012 compared to CEB’s actual level of 13.3% at the end of 2010. The Core Tier 1 ratio would reduce from 10.1% to 8.6% - comfortably exceeding the EBA benchmark of 5%.

Background on Credit Europe Bank
Credit Europe Bank NV is an international financial services group with more than 6,000 employees serving over three million clients worldwide. The bank offers easy-to-use retail banking and SME-products as well as private banking through more than 11,000 sales points across nine European countries. It also offers trade finance and corporate banking services through its network in these countries as well in China and in the United Arab Emirates.