November 2, 2018 / 5:57 PM / 15 days ago

BNP Paribas says stress tests show its balance sheet is strong

FILE PHOTO: The logo of French bank BNP Paribas is pictured during the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS/Charles Platiau/File Photo

PARIS (Reuters) - French largest listed bank BNP Paribas (BNPP.PA) said on Friday that stress tests carried out by the European Banking Authority confirmed the strength of its balance sheet and the quality of its risk policy.

The French bank said the test results show that it is capable to “withstand a scenario of major stress based on extremely severe assumptions of economic and market evolutions.”

The regulator tested how well capital buffers of the 48 main European banks would withstand a combination of theoretical market and economic shocks. The ratio of BNP Paribas’ core capital to its weighted risk assets stood at 8.64 percent, the ninth-lowest among the 48 banks.

The test is the toughest one imposed on banks since 2009.

Reporting by Inti Landauro; Editing by GV De Clercq

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