June 2, 2020 / 8:12 AM / a month ago

Slovak banks have twice more capital than in last crisis, central bank says

PRAGUE, June 2 (Reuters) - The Slovak banking sector’s capital adequacy is nearly double what is was before the last global crisis in 2008 and banks can manage the coronavirus crisis despite a big profitability hit, the central bank said on Tuesday in a financial stability report.

The central bank said some banks could suffer losses in the crisis while the sector’s average capital adequacy would fall around 3 percentage points from 19.7% under its stress testing scenario.

The bank regulator also said banks should act conservatively towards dividends from 2020 earnings after the sector largely did not pay out 2019 profits. (Reporting by Jason Hovet)

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