BBVA Has EUR7.09 Billion Capital Shortfall In EBA Test
October 27 2011 - 3:13AM
Dow Jones News
Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA) said Thursday
it has a capital shortfall of EUR7.09 billion in the latest round
of stress tests by the European Banking Authority, of which EUR1.91
billion is related to sovereign risk.
EBA had identified a total capital shortfall for European banks
of EUR106.4 billion, of which Spanish banks would need to raise
EUR26.2 billion.
BBVA said the numbers are preliminary and will be adjusted to
reflect BBVA's September results. It will then take the necessary
action to boost its capital base.
The bank, Spain's second-largest by assets, said Wednesday it
could generate EUR4.7 billion in capital through retained earnings.
In a regulatory filing, it also said its could take other steps to
increase its core capital ratio, and that it wouldn't need state
aid.
Separately, rival La Caixa said it has a capital shortfall of
EUR602 million in the test, and that it would generate enough
additional capital through its earnings to meet this shortfall.
-By Christopher Bjork; Dow Jones Newswires; +34913958123;
christopher.bjork@dowjones.com
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