Greece’s ATEbank says fails stress test

ATHENS, July 23 (BestGrowthStock) – Greece’s state-controlled
ATEbank (AGBr.AT: ) failed the European Union stress test, the
bank said on Friday.

Under the most adverse scenario, with sovereign shock, it
would have a Tier 1 ratio of 4.36 percent. Its shortfall under
this scenario would amount to 242.6 million euros ($312.4
million).

“The Bank will proceed to a capital increase to cover future
capital adequacy needs,” it said in a statement.

Investing

(Reporting by Athens bureau)

Greece’s ATEbank says fails stress test