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NBG

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Share Name Share Symbol Market Type
NYSE:NBG NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.1609 0 00:00:00

IMF: Tests Confirm Soundness Of Romania's Foreign Bks

20/05/2009 4:44pm

Dow Jones News


National Bank of Greece (NYSE:NBG)
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Stress tests conducted on Romania's nine largest foreign banks confirm the institutions are well-capitalized and possess sufficient liquidity buffers, the International Monetary Fund said Wednesday.

Still, the banks - which include the National Bank of Greece (NBG), UniCredit Group (UNCFF) and Societe Generale (SCGLY) - plan to increase minimum capital adequacy ratios at their Romanian subsidiaries to 10% from 8% as a precautionary measure.

The move aims to "help Romania's banking system to weather the current crisis better, support investor confidence and guide the economy to a sustainable long-term growth path," the IMF said.

Romania earlier this month secured a two-year $17.1 billion IMF loan package to help it deal with a decline in capital inflows and to correct fiscal imbalances. It is among many Eastern European countries that have sought IMF aid in the wake of the ongoing financial crisis.

-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629; meena.thiruvengadam@dowjones.com

 
 

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