24 European Banks Facing Bad Financial Condition

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Brussels: European Banking Authority has announced that 24 banks are failed in test which was taken to ascertain its’ financial position, banks must have to better its financial position in nine months otherwise they may have to suspend their businesses. According to media reports, the banking authority states that the banks which failed in this test are, 9 Italian, 3 Greek and 3 belong to Cyprus.

The European Banking Authority tested the 123 banks’ financial position to make evaluation, are these banks capable of facing any financial crises or not? This overview was performed at the end of year 2013 to ascertain financial position based on available data. During this judgment test, 10 of the banks have somewhat improved their financial position, 4 British banks as Royal Bank of Scotland, HSBC, Lloyd’s Banking Group and Barclays were also included in this overview, four of these banks were considered successful in this judgment.