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National Bank of Greece and Lloyds Bank -- Sound but MistrustedThe Paragon Report Provides Equity Research on National Bank of Greece & Lloyds Banking Group (October 19, 2011)
NEW YORK, NY -- (Marketwire) -- 10/19/11 -- Despite signals from the European Commission that solutions to the debt crisis are on the way with a possible round of bank recapitalizations, European and UK banks remain firmly on the downswing as investors continue to worry about their exposure to peripheral euro-zone debt. The Paragon Report examines investing opportunities in the Foreign Banking Industry and provides equity research on National Bank of Greece SA (NYSE: NBG) and Lloyds Banking Group PLC (NYSE: LYG) (LSE: LLOY). Access to the full company reports can be found at:
French Budget Minister Valerie Pecresse reiterated that all European banks must strengthen their capital equity in the face of the current crisis. European banks will be asked to obey a 9 percent capital ratio by the end of 2013, according to the French budget minister.
International Monetary Fund (IMF) Chief Christine Lagarde stressed the need to reinforce European banks to enable them to continue financing economy and survive the ongoing financial crisis. European banks must first seek recapitalization by themselves before enlisting public help because "there are many banks today that can appeal to their shareholders," she said.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Foreign Banking industry register with us free at www.paragonreport.com and get exclusive access to our numerous stock reports and industry newsletters.
Recapitalization terms are still under consideration as volatile markets await concrete measures to end a series of choppy trading sessions and restore confidence in the region's financial systems.
European Commission President Jose Manuel Barroso told the European parliament that the region "must urgently strengthen the banks." He said European Union member governments, the European Central Bank and the European Commission must coordinate efforts to recapitalize banks through private and state injections. Barroso added over the weekend that "European banks for the most part are sound but there is mistrust because of their holdings of sovereign debt." Barroso argues that banks needing to recapitalize should go to private markets, to their national government, and to European rescue funds, in that order.
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