August 21, 2014 / 7:47 AM / 3 years ago

BayernLB says is well prepared for ECB stress tests

FRANKFURT, Aug 21 (Reuters) - German public-sector lender BayernLB said its strong capitalisation put it in a good position ahead of European Central Bank health checks of the financial sector.

“As at 30 June 2014, BayernLB has a very solid CET 1 ratio of 14.4 percent and is therefore well prepared for the ECB’s asset quality review and subsequent bank stress test in the fourth quarter,” BayernLB said in a statement on Thursday.

The lender nevertheless said the sale of banking subsidiary MKB in Hungary would contribute to a consolidated loss for the full year, despite good earnings at BayernLB’s core business. (Reporting by Jonathan Gould; Editing by Maria Sheahan)

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