EUROPE’S biggest banks could face as many as 63 more giant fines between them over the coming years as regulators continue to comb through their misdeeds, analysts at Berenberg warned yesterday.
There are 15 major issues still outstanding which could lead to fines of more than €100m (£80m) each, per bank.
Those investigations include Libor and forex probes, US mortgage litigation, Swiss taxes and payment protection insurance, among others.
The fines could eat a long way into banks’ equity capital buffers, and Berenberg’s analysts believe Barclays and Credit Suisse are most exposed to this risk, with relatively low buffers.
By contrast, HSBC and UBS are better prepared and more able to absorb any fines and still keep paying dividends.