Europe's Largest Banks Stash Their Cash in Central Banks
The Paragon Report Provides Stock Research on National Bank of Greece SA and Banco Santander SA
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 05/10/12 -- After a surprising start to the year European financial stocks have fallen sharply. Recent political election results in Greece and France have threatened Europe's plan for economic recovery. The iShares MSCI Europe Financials Sector Index Fund (EUFN) -- which is designed to measure the combined equity market performance of the financial sector of developed market countries in Europe -- has dropped over 13 percent in the last three months. The Paragon Report examines investing opportunities in the Foreign Banking Industry and provides equity research on National Bank of Greece SA (NYSE: NBG) and Banco Santander SA (NYSE: STD).
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With concerns that Europe's problems could intensify, the nation's largest banks have been hoarding their cash at central banks. According to analysis done by the Wall Street Journal, Europe's largest banks have stored roughly $1.2 trillion in cash at central banks around the world, a 66 percent increase from the end of 2010. Banks have decided to store their money in central banks to allow them easy access to funds just in case they are faced with emergency situations.
Paragon Report releases regular market updates on the Foreign Banking Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
Banco Santander, S.A. (Santander) is a financial group operating principally in Spain, the United Kingdom, Portugal, other European countries, Brazil and other Latin American countries and the United States, offering a range of financial products. Santander registered net attributable profit of EUR 1,604 million in the first quarter of 2012, a decline of 24% from the same period in 2011.
National Bank of Greece SA (the Bank) is a Greece-based financial institution. It offers a range of integrated financial services, including corporate and investment banking, retail banking (including mortgage lending), leasing, stock brokerage, asset management and venture capital, insurance, real estate and consulting services.
Paragon Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Paragon Report has not been compensated by any of the above-mentioned companies. We act as independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Datum: 10.05.2012 - 12:20 Uhr
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