SAN FRANCISCO, June 29, 2016 /PRNewswire/ -- BancWest today announced that the Federal Reserve has completed its review of BancWest's 2016 Comprehensive Capital Analysis and Review (CCAR) and did not object to the company's capital plan.
"BancWest is well capitalized, and these results demonstrate our commitment to our business, disciplined capital management, and maintaining a sound risk profile," said Nandita Bakhshi, CEO of BancWest, and President and CEO of Bank of the West.
BancWest also announced today that it has released the results of its company-run 2016 Dodd-Frank Act Stress Test. This information is available on BancWest's website and can be found here under Regulatory Disclosure.
BancWest's plan included projected capital levels and financial results over a nine quarter forecast horizon, starting January 1, 2016. The results of the planning exercise show that BancWest's capital levels would remain above regulatory capital requirements and above the bank's own capital goals in all hypothetical stress scenarios that were part of the CCAR process.
The Federal Reserve has provided additional information on its website.
Certain statements in this release are forward-looking statements, which involve a number of risks and uncertainties. BancWest cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information.
BancWest represents a group of U.S. entities consisting of Bank of the West and First Hawaiian Bank, and their subsidiaries and holding companies, all of which are owned by BNP Paribas. Effective July 1, 2016, BancWest Corporation will become the holding company for Bank of the West, under BancWest Holding Inc., and First Hawaiian Bank, under First Hawaiian, Inc. BancWest Corporation will be a subsidiary of BNP Paribas USA, Inc. the U.S. Intermediate Holding Company for BNP Paribas.
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 75 countries, with more than 189,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporate and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. www.group.bnpparibas
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