LONDON, May 7 (Reuters) - It’s “too early to speculate” on the outcome of an EU-wide review into whether the region’s most important banks need more capital, chief risk officer Wilfred Nagel said on Wednesday.
ING is one of the 128 banks whose books are being reviewed by European Central Bank ahead of the EU tests. “It’s much too early to speculate on any outcomes,” Nagel told analysts.
“We have seen of course what the inputs of the stress tests are but there’s one very important input nobody knows aboutthe outcome of the AQR,” he added in a reference to the Asset Quality Review the ECB is carrying out.
Several banks in the euro zone have struggled to provide the reams of data demanded by the ECB’s reviewers. Nagel said ING had been able to deliver the information on time. The stress test results will be published in October.
Reporting By Laura Noonan; Editing by Chris Velacott