Russia's Sberbank says its unit well placed for ECB stress tests
MOSCOW, May 7 (Reuters) - Russia's top lender Sberbank said on Thursday its Austrian unit, Sberbank Europe, was well placed to pass the European Central Bank's stress tests.
"As to Sberbank Europe's capital adequacy, taking into account the recent capital increase and a subordinated loan from the parent bank, it significantly exceeds the regulator's requirements," Sberbank said in emailed comments.
The ECB said on Wednesday it would carry out stress tests and balance sheet reviews on the Austrian units of Sberbank and its rival state-controlled lender, VTB.
(Reporting by Alexander Winning; Writing by Maria Kiselyova, editing by Elizabeth Piper)
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