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Foreign Banking Stocks Falter as Financial Concerns in Europe Continue to Grow

NEW YORK, NY -- (Marketwire) -- 05/30/12 -- Shares of foreign banks have fallen sharply in the last month on concerns of Greece's economic problems and Spain's banking systems. "Pressure on the Spanish banks is continuing to mount as remaining confidence is sucked out of the country, so investors are understandably content in sitting on their hands," Mike McCudden, head of derivatives at Interactive Investor, said. The Paragon Report examines investing opportunities in the Foreign Banking Industry and provides equity research on Bank of Ireland (NYSE: IRE) and Lloyds Banking Group PLC (NYSE: LYG).

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Spain announced last Friday plans to inject EUR 19 billion ($24 billion) into Bankia SA, the country's third-largest bank. The bank last week requested rescue funding to help cover write-downs on residential mortgages, which have plagued Spain's banking system.

On Monday, Greece's bank support fund has disbursed EUR 18 billion in temporary aid to the country's top four biggest banks. The injection of funds will help boost the capital base and will allow National Bank, Alpha, Eurobank and Piraeus Bank to regain access to National Bank, Alpha, Eurobank and Piraeus Bank.

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.

The Governor and Company of the Bank of Ireland provides banking and other financial services to small and medium-sized commercial and industrial companies in Ireland and internationally. The Bank of Ireland believes it is in a better position this year. By the end of December 2011, it had fully exited the costly emergency liquidity assistance (ELA) offered by Ireland's central bank and reduced its dependency on European Central Bank funding to 23 billion euros from 33 billion a year earlier.

Lloyds Banking Group plc provides various banking and financial services to personal and corporate customers primarily in the United Kingdom. The company posted a full-year net loss of $4.41 billion as it pushed back a key earnings target, citing a gloomy U.K. macroeconomic outlook and increased regulatory uncertainty. HSBC has recently agreed to acquire Lloyds' operations in the United Arab Emirates.

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