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Sumitomo Mitsui Banking Corporation Europe
Svenska Handelsbanken AB
Swedbank AB
Swedbank Mortgage AB
Swedish Export Credit Corporation
Swiss Bank Corporation
Sydbank A/S
Syndicate Bank, London Branch
T.C. Ziraat Bankasi A.S.
Takarek Mortgage Bank Co. Plc.
Tatfondbank
Tatra banka, a.s.
The Co-operative Bank plc
The Royal Bank of Scotland Group plc
Tinkoff Bank
TOTTA (IRELAND) p.l.c.
Transkapitalbank
Turk Ekonomi Bankasi A.S.
Turkiye Garanti Bankasi A.S.
Turkiye Halk Bankasi A.S.
Turkiye Is Bankasi A.S.
Turkiye Sinai Kalkinma Bankasi A.S.
Turkiye Vakiflar Bankasi T.A.O.
UBI Banca International S.A.
UBS AG
UBS AG, Jersey Branch
UBS AG, London Branch
UBS Capital Securities (Jersey) LTD
UBS Limited
UBS Preferred Funding (Jersey) Ltd.
Ukreximbank
Ulster Bank Finance PLC
Ulster Bank Ireland DAC
Ulster Bank Limited
Unicaja Banco
UniCredit Bank AG
UniCredit Bank AG, Paris Branch
UniCredit Bank Austria AG
UniCredit Bank Ireland p.l.c.
UniCredit Int'l Bank (Luxembourg) S.A.
UniCredit Luxembourg Finance S.A.
UniCredit Luxembourg S.A.
UniCredit S.p.A.
UNIFIN
Unione di Banche Italiane S.p.A.
Unipol Banca S.p.A.
UT2 Funding plc
VAB Bank
Valiant Bank AG
VEB.RF
Vneshprombank
Volkswagen Bank GmbH
Volkswagen Financial Services AG
Volvofinans Bank AB
Vontobel Holding AG
Vozrozhdenie Bank
Vseobecna uverova banka, a.s.
VTB Bank (Austria) AG
VTB Bank (Deutschland) AG
VTB Capital plc
VTB Capital S.A.
VTB24
Westfaelische Hypothekenbank AG
Westpac Banking Corp. (London Branch)
Westpac Europe Limited
Westpac Securities NZ Limited, London Branch
WestpacTrust Securities NZ Limited (London)
WGZ BANK AG
Woolwich plc
Yapi ve Kredi Bankasi A.S.
Zuercher Kantonalbank
Related Research
Announcement:

Moody's: Mostly negative European banking system outlooks in 2015 owing to new bail-in regimes, despite improving financial stability

08 Dec 2014

Frankfurt am Main, December 08, 2014 -- In most European banking systems, financial stability is improving, but rising bail-in risks and weak profits pose challenges, says Moody's Investors Service. New EU-wide regulation has enforced higher capital levels, which, through de-risking and better asset-liability matching will improve bank performance, longer term. However, weak macroeconomic conditions weigh on Europe's banking sector, and low overall bottom lines implies that the European banking industry remains structurally vulnerable.

The new report "2015 Outlook - European Banks", is now available on www.moodys.com. Moody's subscribers can access this report via the link provided at the end of this press release.

"Weak macroeconomic conditions will continue to weigh on Europe's banking sector in 2015 and banks' low overall profitability implies that Europe's banking sector remains structurally vulnerable, meaning that we may see banks making further adjustments to their costs and possibly changes to their business models. European banks' bottom lines should benefit from declining provisioning costs in 2015, but conduct and litigation charges will remain high," says Carola Schuler, a Managing Director in Moody's EMEA Financial Institutions Group. Also, given the pending EU bail-in regime, benign funding costs are likely to rise. It remains to be seen whether banks will be able to pass on to their customers the higher cost of regulation and in particular, any bail-in costs.

"What we will likely see in terms of asset quality is a split between broadly stable conditions for banks in core euro area countries, with notable exceptions being German banks' ship financings and Dutch banks that are impacted by the challenged real estate and SME sectors, and a slowing of pressures in the periphery," continues Ms Schuler. "In the periphery, new problem loan formation has slowed, but, the degree to which we will see a bottoming-out of this trend will depend on a more sustained improvement in still-difficult economic conditions," explains Ms Schuler.

Moody's also says that ECB funding dependence for banks in periphery countries has fallen significantly. Gradual improvement in investor sentiment towards periphery banks has widened market access also for medium-sized or smaller firms and the cost of funding has decreased; but, with the recovery still fragile, these improvements could be subject to sudden change.

Moody's notes that of the non-euro area EU countries, the UK's banks are benefitting from economic recovery and prudential regulatory measures and improving bank fundamentals shield against remaining housing market risks. However, creditors face headwinds from the finalisation of the UK resolution and bail-in regime. Furthermore, low interest rates and economic growth support the performance of the Nordic banking systems, whose banks rank among the highest-rated in Europe. Although Moody's says that banks in these sectors are exposed to the risk of corrections to currently high house prices, particularly in Norway and Sweden which may pressure bank performance.

Central and Eastern European (CEE) economies and banking systems are on a recovery trend, despite the key downside risk posed by CEE's significant trade linkages with the core EU countries which are facing weak macroeconomic conditions. CEE banking systems with a high share of foreign currency lending (Hungary and Romania) are likely to be more exposed to FX volatility in 2015, exacerbated by reduced funding levels from parent banks since the financial crisis. CIS banks face strong headwinds in 2015 owing to the Ukraine crisis and geopolitical risks, which will result in CIS banks' asset quality and capital remaining under pressure in 2015. For example, in Ukraine, massive loan restructurings understate the level of problem loans, and Moody's expects total problem loans to rise to ca. 55% of gross loans into 2015 (YE 2013: 35%). Furthermore, in Russia, banks' problem loan ratio will likely deteriorate to 9.5% (YE 2013: ca. 7%).

Subscribers can access this report via this link: http://www.moodys.com/viewresearchdoc.aspx?docid=PBC_177831.

NOTE TO JOURNALISTS ONLY: For more information, please call one of our global press information hotlines: London +44-20-7772-5456, New York +1-212-553-0376, Tokyo +813-5408-4110, Hong Kong +852-3758-1350, Sydney +61-2-9270-8141, Mexico City 001-888-779-5833, São Paulo 0800-891-2518, or Buenos Aires 0800-666-3506. You can also email us at mediarelations@moodys.com or visit our web site at www.moodys.com.

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

Katharina Barten
VP - Senior Credit Officer
Financial Institutions Group
Moody's Deutschland GmbH
An der Welle 5
Frankfurt am Main 60322
Germany
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454

Carola Schuler
MD - Banking
Financial Institutions Group
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454

Releasing Office:
Moody's Deutschland GmbH
An der Welle 5
Frankfurt am Main 60322
Germany
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454

No Related Data.
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