SECTOR BANCOS EUROPA: TEST DE ESTRES 2021 (ANÁLISIS BANCO SABADELL)
TEST DE ESTRÉS.Los test de estrés del sector bancario publicados en viernes realizados a 50 entidades (70% de los activos totales bancarios en Europa) reflejan una erosión en escenario adverso de CET1 FL 2023 de -485 p.b. desde 10,2% de media’20. De todo universo de cobertura, a excepción de Société Générale el ratio se mantiene >8%. Bankinter y Santander son de los que mejor salen parados (-104 p.b. y - 258 p.b., respectivamente y vs -450 p.b. de media del resto en cobertura). Además, Bankinter presenta la referencia final de CET1 FL’23 superior (11,25%), seguido de ING Groep (10,99%) e Intesa SanPaolo (9,38%). El resto oscila desde un 9,31% de Santander a un 7,54% de Société Générale. Dado que en el escenario base (con recuperación de las economías) todos generan capital, nada hace atisbar limitaciones específicas en el pago del dividendo.
Banco Bilbao Vizcaya Argentaria is an international financial group, engaged primarily on providing banking services and consumer finance to private individuals and businesses in Spain and Portugal; providing real estate activity in Spain; providing services to international companies and investment banking, capital markets and treasury management services to clients; and providing the banking, insurance and pension businesses in Mexico and the U.S., as well as in South America.
Banco Santander is a holding company, providing a range of financial products. Co.'s products and services include: retail banking business that covers all customer banking businesses; wholesale banking business; as well as asset management and insurance business. Co.'s principal operations are in Spain, the U.K., Portugal, Germany, Italy and Latin America. As of Dec 31 2014, Co.'s total assets amounted to Euro1,266,296,000,000 and total customer deposits amounted to Euro647,627,000,000.
Bankinter is the parent company of a group engaged in banking activities. Services provided include: investment banking; capital market services; financial services insurance; international services such as foreign exchange transactions and travelers' checks; wholesale corporate banking; and retail and private banking services. Co. offers its products and services through the following channels of distribution: branch network; telephone banking, interactive (software) banking; agents; and Internet banking. As of Dec 31 2014, Co. had assets totalling Euro57,332,974,000 and deposits totalling Euro29,966,129,000.
Societe Generale is a universal banking and financial services group based in France. Co. is engaged in operations in areas such as retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. Co.'s three segments are: French Retail Banking (FRB); International Retail Banking & Financial Services (IBFS); and Global Banking and Investor Solutions (GBIS). FRB offers products and services to individual, professional and business customers; IBFS comprises banking networks and consumer finance activities; and GBIS covers global activities of Corporate and Investment Banking. Co. maintains operations across 76 countries globally.
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