Erste Group Bank AG
Erste Group Bank AG: Stress test: Erste Group has capital shortfall of EUR 59 million at mid-year 2011
Erste Group Bank AG / Key word(s): Statement/Statement 27.10.2011 13:08 Dissemination of an Ad hoc announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad hoc release In connection with the sovereign debt crisis, the European Banking Authority (EBA) conducted a preliminary assessment of European banks' capital requirements. A core tier 1 ratio of 9% (as per the stress test definition) was set as benchmark, and all EEA sovereign exposures are marked-to-market. The 9% will have to be met by 30 June 2012. According to this preliminary calculation, Erste Group Bank AG requires additional capital amounting to EUR 59 million. This result was calculated using half-year 2011 data. The final result is expected to be determined by the EBA based on financial statements as of the end of the third quarter, thus taking into account the measures recently announced by Erste Group Bank AG. The Core tier 1 ratio is calculated using EBA methodology and estimates and includes the participation capital provided by the Republic of Austria in the amount of EUR 1,224 million, but neither the hybrid capital nor participation capital provided by private investors in the amount of EUR 540 million. 27.10.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Erste Group Bank AG Graben 21 1010 Wien Austria Phone: +43(0)5 0100 - 10100 Fax: +43(0)5 0100 9 - 10100 E-mail: info@erstegroup.com Internet: www.erstegroup.com ISIN: AT0000652011 WKN: 909943 Listed: Freiverkehr in Berlin, Hamburg, München, Stuttgart; Open Market in Frankfurt; Wien (Amtlicher Handel / Official Market) End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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