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Tuesday, October 28, 2014 10:53:38 AM
Commerzbank shares have climbed as much as 9.5 per cent in initial trading after passing the European Central Bank's stress tests.
The results of the ECB's far-ranging probe into the health of eurozone banks were publicised over the weekend.
While 25 smaller banks failed the stress test, Commerzbank - one of Germany's biggest banks - passed comfortably, with a core capital ratio of 8 per cent even in the adverse scenario, compared to the 5.5 per cent hurdle.
The test only ran to the end of last year, and in a statement Commerzbank said it had further improved its capital ratio since then.
Martin Blessing, the German lender's chief executive, said:
The good result of the comprehensive assessment by the ECB is testimony to the successful reorganisation of Commerzbank in the past years and to the strength of our client-centric business model. In this respect the stress test has clearly confirmed the stability and stress resilience of the bank. The strategic orientation is correct; the implementation of the measures from our agenda through to 2016 is proceeding successfully and to schedule.
http://www.ft.com/intl/fastft/226502/commerzbank-climbs-on-ecb-stress-test-pass
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