25 eurozone banks fail ECB financial health check

London: Twenty-five eurozone banks out of a total 130 failed a crunch new financial health check by the European Central Bank, data showed on Sunday.

The banks showed a combined capital shortfall of 25 billion euros (about $31 billion), according to the ECB audit or Asset Quality Review, which also showed that the book value of banks` assets needed to be adjusted by 48 billion euros.

"This unprecedented in-depth review of the largest banks` positions will boost public confidence in the banking sector," said ECB vice president Vitor Constancio, adding that "this should facilitate more lending in Europe, which will help economic growth".