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ING Bank said comfortably passes EBA stress test

Autor: Bancherul.ro
2011-07-16 17:48

- EBA stress test confirms strong capital position of ING Bank. Strong profit and capital generation enable balance sheet to absorb adverse shocks

-· Under adverse stress test scenario the estimated consolidated Core Tier 1 capital ratio of ING would decline to 8.7% in 2012 compared to 9.6% as of end of 2010

-· ING would remain well above hurdle rate of 5% Core Tier 1 ratio with surplus Core Tier 1 capital of EUR 14.8 billion in 2012.

ING Bank was subject to the 2011 EU-wide stress test conducted by the European Banking Authority (EBA), in cooperation with De Nederlandsche Bank (DNB), the European Central Bank (ECB), the European Commission (EC) and the European Systemic Risk Board (ESRB), said the bank in a press release.

ING Bank notes the announcements made today by the EBA and DNB on the EU-wide stress test and fully acknowledges the outcomes of this exercise.

The EU-wide stress test, carried out across 90 banks covering over 65% of the EU banking system total assets, seeks to assess the resilience of European banks to severe shocks and their specific solvency to hypothetical stress events under certain restrictive conditions.

The assumptions and methodology were established to assess banks' capital adequacy against a 5% Core Tier 1 capital benchmark and are intended to restore confidence in the resilience of the banks tested. The adverse stress test scenario was set by the ECB and covers a two-year time horizon (2011-2012). The stress test has been carried out using a static balance sheet assumption as at December 2010. The stress test does not take into account future business strategies and management actions and is not a forecast of ING Bank profits.

As a result of the assumed shock, the estimated consolidated Core Tier 1 capital ratio of ING would change to 8.7% under the adverse scenario in 2012 compared to 9.6% as of end of 2010.

Details on the results observed for ING Bank:

The EU-wide stress test requires that the results and weaknesses identified, which will be disclosed to the market, are acted on to improve the resilience of the financial system. Following completion of the EU-wide stress test, the results determine that:

ING Bank meets the capital benchmark set out for the purpose of the stress test. The bank will continue to ensure that appropriate capital level must be maintained. In the adverse scenario, ING Bank remains well above this benchmark of 5% Core Tier 1 ratio with surplus Core Tier 1 capital of EUR 14.8 billion in 2012.

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