Commerzbank assets take 1.5 billion euro hit at end-2013 in ECB test

Berlin-Germany (Oct 26)   The value Commerzbank's assets was 1.52 billion euros less at end-2013 than the value stated by the bank itself, according to the results of a balance sheet quality review led by the European Central Bank.

The ECB examined valuations used by euro zone banks in its comprehensive assessment and published the results on Sunday.

The assessment results show that Commerzbank's corporate loan book to be worth 1.19 billion euros less than stated by the bank itself a the end of last year, making it the biggest single asset class at Commerzbank to suffer under the ECB's review.

Commerzbank passed the overall stress test by a comfortable margin, posting a common equity tier 1 ratio of 7.96 percent in the hardest part of the assessment, compared to a minimum requirement of 5.5 percent.

Source: Reuters