Please find here the most recent banking news
Impairment on exposure to Greek government bonds of €10 billion, a profit on own credit spread of €15 billion, 100,000 job losses announced and 5 banks posting losses! These are the key points of our benchmark for 2011.
Our European benchmark shows a relatively robust performance from the banks in our sample for the first half of 2011, in despite the impact of the Greek crisis.
A few weeks ago in Brussels, Mazars brought together representatives of the European Commission, the CBFA (Belgian regulator) and various banking groups for a debate on Basel 3 regulations and specifically the reform regarding the new solvency ratio.
In our previous issue we highlighted the turnaround in the profitability and solvency of the banks in our European benchmark sample. Fortunately this trend has been confirmed in the results published by the major banking groups for the first half of 2010, as covered in Bank News No. 5. At the same time the majority of these banks have passed the European stress tests with success. However, in light of these tests, some of the banks will have to put through significant restructuring measures.
The banking industry has continued to generate a lot of column inches in recent months.