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PARIS, July 4: European banks may find it necessary to raise between 60 and 90 billion euros ($94-141 billion) to shore up their finances in the face of a nearly year-long credit crisis, analysts at Goldman Sachs said in a note Friday.
They said that European banks followed by Goldmans have sustained asset write-downs of $134 billion, offset by capital increases of about $115 billion.
Big banks and finance institutions around the world have suffered losses and write-downs stemming from a near-collapse last year in the US subprime high-risk mortgage market, which undermined the value of billions of dollars in mortgage-backed securities.—AFP
