All Nordic Banks Will Pass Stress Test, Nordea Says

According to Chief Executive,  Christian Clausen, at the Swedish based Nordea, all Nordic banks will pass the EU bank stress test when the results are made – partly – public on Friday.

“We do not see any problems related to the passing stress tests.”

Christian Clausen

Christian Clausen, CEO, Nordea Bank, Sweden.

Of course not! Nordic bankers usually don’t see any problems at all – ever. And why should they? Most of them have their local governments as major shareholders, and no politician will let their good buddies, former and future employers, down.

The Nordic central banks have even agreed on bailing out the Baltic banks, who have caused the Scandinavian bankers most headache, and losses, so far.

Nordic Central Banks Agree On Baltic Bank Bailout

At the Nordea headquarter they’re also absolutely sure that the tests would strengthen rather than weaken the Nordic banks – in any case.

“We do not see any problems related to the passing stress tests,” Nordea Chief Executive Christian Clausen says in an interview with  Bloomberg Television on Wednesday.

Adding that all the Nordic banks will come out on the upside of the stress tests.

See the interview with Christian Clausen at Bloomberg Television here, where he also talks about the Scandinavian banks Baltic operations.

When similar tests were conducted by the US bank regulators last year, 19 banks were exposed to a hypothetical horror scenario.

The US stress tests uncovered by some banks need more cash, but that most did fine, and bank shares rose sharply in a  period following the stress tests.

Europe leaders are hoping for something of the same effect, but lately many have expressed skepticism about both the health of the European banks,  and how transparent and accurate the tests are.

The following Nordic banks are included in the EU stress tests:

Denmark:

Danske Bank

Jyske Bank

Sydbank

Finland:

OP-Pohjola Group

Sweden:

Nordea Bank

Skandinaviska Enskilda Banken (SEB)

Svenska Handelsbanken

Swedbank

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No Norwegian banks are submitted to the test, as Norway is not a member of the EU.

Guess that’s just as well:

Norway: Most Banks Fail In Stresstest

More related by the Econotwist:

European Bank Stress Tests Are Loosing Credibility

The EU Stress Test: Working The Media

Stress Level Rising In Europe; Some Banks Might Not Survive

EU Stress Test May Trigger Capital Injection Of EUR 85 Billion

European Banks Hunting For EUR 1,65 Trillion

German Banks With More Than 200 Billion Euro In Faul Credits

Swedbank To Merge Baltic Subsidiaries Into The Group

Estonia: Banks Lost USD 23 million in Q1

Morgan Stanley To Buy Bad Baltic Loans?

Swedbank Leaves The State Guarantee Program

Latvia To Split And Sell Nations Leading Bank

The Nordic Superbank Dream

An Estonian Mystery

Swedbank Buy Greek Bonds With Estonian Money

Estonian Company Claims $130mill from SEB

How To Make A Rat Look Like A Puppy

Swedbank In Estonia: “Daylight Robbery”

Swedbank Reports Record Loss of SEK 10,5bn

Baltic losses of Swedish banks at 3.7 billion dollars

How Sweden sent Estonian economy into free fall

East European banks needs $304bn

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