The European Banking Authority’s (EBA) 2023 EU-wide stress test results identified Poland’s Pekao as the most durable bank in Europe in adverse situations. The stress test involved 70 banks from 16 countries within the EU and EEA, covering three-quarters of total EU banking assets, and examined banks’ ability to withstand varying conditions over a three-year period. Only two banks, including Pekao, maintained their capital ratios during the stress scenario. Leszek Skiba, CEO of Pekao, credited their robust risk management strategy and high liquidity levels for the bank’s outstanding performance. As per the test results, Pekao’s consolidated Tier 1 common equity (CET 1) ratio would stand at 18.6% in a normal scenario and 15.4% in an adverse scenario by 2025. Pekao, established in 1929, is one of Central and Eastern Europe’s largest financial establishments, serving over 6.4 million clients and managing assets valued at EUR 66.36 billion.
Source: tvpworld.com
