BayernLB expects to pass ECB's bank asset check and stress test

MUNICH Mon Dec 2, 2013 7:00am EST

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MUNICH Dec 2 (Reuters) - German public-sector lender BayernLB expects the bank to fare well in the ECB's asset quality review and subsequent stress test next year, Chief Executive Gerd Haeusler said on Monday.

"With a core tier 1 ratio of almost 15 percent we have enough of a buffer and can be very relaxed (about the asset quality review and bank stress test," the outgoing bank chief said.

Haeusler will be replaced by NordLB manager Joerg Riegler in April while Markus Wiegelmann will succeed Stephan Winkelmeier as Chief Financial Officer.

In October, Haeusler will become BayernLB's chairman. (Reporting by Arno Schuetze)

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