Europe’s Banks in Brexit Danger

Europe’s Banks in Brexit Danger

Twenty-two of 38 large commercial banks headquartered in the Eurozone merit a Weiss Safety Rating of D+ or lower, making them vulnerable to Britain’s exit from the European Union, with potentially widespread global repercussions. Among the 38 Eurozone banks covered, none are rated higher than a C+.

These are the conclusions of the 2016 Global Bank Ratings released today by Weiss Ratings, the nation’s leading provider of independent financial safety and investment ratings.

The report, including the first and only completely independent ratings on global banks, covers 280 of the world’s largest banks (with at least $3 billion in assets), rating them with letter grades ranging from A+ (strong) through E- (very weak).

The Eurozone Crisis report can be downloaded separately, for free by visiting http://offers.weissratings.com/eurozonecrisis/.

22 Large Eurozone Banks Vulnerable to Brexit

(with assets of $3 billion or more)

Bank Name

Total

Assets

($B)

Country

Weiss

Safety

Rating

Alpha Bank AE

75.3

Greece

D+

Banca Carige SpA

32.1

Italy

D-

Banca Monte dei Paschi di Siena SpA

197.6

Italy

D-

Banca Popolare dell’Emilia Romagna SC

69.9

Italy

D-

Banco BPI SA

44.2

Portugal

D

Banco Comercial Portugues SA

86.8

Portugal

D

Banco de Sabadell SA

232.2

Spain

D+

Banco Popolare SC

139.0

Italy

D-

Banco Popular Espanol SA

184.4

Spain

D

Bank of Cyprus Pcl

25.3

Cyprus

D+

Bankia SA

232.7

Spain

D+

CaixaBank SA

388.5

Spain

D

Credito Valtellinese SC

29.2

Italy

D-

Dexia SA

270.3

Belgium

D+

Eurobank Ergasias SA

83.0

Greece

D

IKB Deutsche Industriebank AG

64.1

Germany

D-

Intesa Sanpaolo SpA

796.9

Italy

D+

Mediobanca SpA

79.9

Italy

D+

National Bank of Greece SA

120.9

Greece

D

Piraeus Bank SA

95.1

Greece

D+

UniCredit SpA

1,015.4

Italy

D

Unione di Banche Italiane SpA

132.8

Italy

D

Weiss Ratings Scale: A = excellent, B = good, C = fair, D = weak, E = very weak.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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