Dutch banks pass EU stress test

The four Dutch banks which under went the EU’s stress test all showed they are able to withstand a new financial crisis.


ING, SNS, Rabobank and ABN Amro/Fortis were among the 84 banks which passed the test. Seven failed.
‘This shows confidence in the future,’ caretaker finance minister Jan Kees de Jager said after the results were published.
Criticism
But former Dutch finance minister Onno Ruding told the Financieele Dagblad that while the results were better than expected, ‘they were not criticial enough on some important points’.
‘Fears about European banks will be reduced but have absolutely not disappeared,’ he said.
Of the four Dutch banks, ING performed worst while Rabobank was strongest.
On Friday it emerged that smaller banks NIBC and Van Lanschot also under went the tests, it is thought on a voluntary basis. They both passed as well.

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