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    Degroof Bank next in line for stress-tests

    ©Belga
    ©Belga

    This Tuesday the European central bank decided it would test the resistance and the balance sheets of Degroof Bank in 2015, reveals Trends magazine on its website. After the bank sector supervising role was handed over to the ECB, 6 Belgian institutions saw stricter procedures imposed on them: Argenta, Axa Bank, Belfius, Dexia, KBC and BNY Mellon. Belgian subsidiaries of BNP Paribas and ING were tested via their parent company.

    Degroof Bank will be submitted to a series of tests at some point in 2015. The decision is not linked to the announced merger with Petercam.

    Degroof Bank has subsidiaries in Luxemburg and in France, and is one of 15 European institutions that escaped stress-testing in 2014 and which therefore need to be in 2015, explains the Belgian National Bank.  They are mostly financial firms with trans-border activities.

    Christopher Vincent (Source: Belga)