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Banca Popolare di Intra SCPA Dec 07
Standard & Poors, Dec 2007
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
Core subsidiary within the Veneto Banca group Leading market position in the home province Resilient customer deposit base Very weak asset quality metrics High geographic and single-name concentration Modest profitability and capitalization The counterparty credit ratings on Italy-based Banca Popolare di Intra SCPA (Intra) reflect the support it receives as a core entity from parent Veneto Banca SCPA (BBB+/Stable/A-2), and a leading market position in its home province of Verbano-Cusio-Ossola (VCO). These credit strengths are offset by the bank's still very weak asset quality metrics, high geographic and single-name concentration, and modest profitability and capitalization. With total assets of -4.3 billion and an expected 85 branches at year-end 2007, Intra is a midsize bank, operating in Northwestern Italy. The network...
Companies mentioned in this report are: Banca Popolare di Intra SCPA,Veneto Banca S.C.P.A.
Action: Review
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