Ax Bank Gets $284 Million Capital Increase
October 24 2014 - 8:55AM
Dow Jones News
By Frances Robinson
BRUSSELS-- Axa Bank Europe, the Belgian unit of French insurer
Axa S.A. received a capital injection of EUR225 million ($284
million) last month, a spokesman for the Belgian unit confirmed
Friday.
Spokesman Wim Pauwels declined to comment further, but said the
increase took place "during the course of the month of
September."
On Sunday, the European Central Bank and regulators will reveal
stress tests into the resilience levels of European banks.
Supervisors have been checking how valuable the assets are on
banks' balance sheets, how much of that value those assets--ranging
from mortgages, to bond investments and corporate loans--would lose
amid simulated financial and economic shocks.
Write to Frances Robinson at frances.robinson@wsj.com
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