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Exact(39)
But some officials who failed the tests were later promoted.
Five savings banks, known as cajas, failed the tests.
Shares fell as much as 18% for some Italian lenders that failed the tests.
"In the beginning I was shocked because 50percentt failed the tests," Mr. Holzinger said.
Banca Cívica was among the cajas that failed the tests in results announced Friday.
A total of 24 banks failed the tests and were called upon to raise a total of €25bn more capital.
Similar(21)
I failed the test pathetically.
Not all students failed the test.
But their theory failed the test.
The vast majority, more than 90%, failed the test.
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CEO of Professional Science Editing for Scientists @ prosciediting.com