Banking, finance, and taxes
EU Banks Getting in Trouble Again (BCS, IRE, AIB, NBG, BBVA, STD, RBS, LYG, DB, UBS, CS)
Published:
Last Updated:
Nearly every stock and ADR/ADS of European banking stocks are lower so far on Tuesday over concerns over debt levels and downside levels of recent stress tests not factoring in the right risks in the European banks. The Wall Street Journal has said that the stress tests understated their exposure to European sovereign debt and unclear disclosures by many of those banks make a real gauge impossible.
Barclays PLC (NYSE: BCS) is down after a surprise CEO resignation by John Varley and he will be replaced by investment banking head Bob Diamond in March. We are seeing key drops in the PIIGS: Bank of Ireland (NYSE: IRE); Allied Irish Banks, plc (NYSE: AIB); National Bank Greece AS (NYSE: NBG), Banco Bilbao Viscaya Argentaria (NYSE: BBVA); and in Banco Santander, S.A. (NYSE: STD). Other drops in the U.K include Royal Bank of Scotland Group plc (NYSE: RBS) and Lloyds Banking Group plc (NYSE: LYG). Deutsche Bank AG (NYSE: DB) got hammered in Germany; and even Swiss giants UBS AG (NYSE: UBS) and Credit Suisse Group (NYSE: CS) are having their day in the rain.
We have a spreadsheet snapshot below showing the drops:
| European Bank ADR/ADS | ADR$ | $ Change | % Change | 52-Week Range |
|---|---|---|---|---|
| Bank of Ireland | $3.74 | Down 0.29 | Down 7.20% | $3.10 – $20.18 |
| Allied Irish Banks, plc | $1.99 | Down 0.07 | Down 3.40% | $1.91 – $10.42 |
| National Bk Greece AS | $2.62 | Down 0.17 | Down 6.09% | $2.11 – $8.37 |
| Banco Bilbao Viscaya Argentaria | $12.43 | Down 0.48 | Down 3.72% | $8.65 – $19.78 |
| Banco Santander, S.A. | $12.29 | Down 0.39 | Down 3.08% | $8.65 – $17.89 |
| Barclays plc | $19.17 | Down 1.11 | Down 5.47% | $15.36 – $25.68 |
| Royal Bank of Scotland Group plc | $14.09 | Down 0.46 | Down 3.16% | $10.28 – $14.75 |
| Lloyds Banking Group plc | $4.43 | Down 0.10 | Down 2.19% | $3.10 – $20.18 |
| Deutsche Bank AG | $62.62 | Down 1.99 | Down 3.08% | $54.14 – $84.93 |
| UBS AG | $17.53 | Down 0.52 | Down 2.88% | $12.26 – $19.32 |
| Credit Suisse Group (CS) | $44.77 | Down 1.83 | Down 3.93% | $36.36 – $60.08 |
JON C. OGG
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
