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Banca Popolare di Intra SCPA Dec 08
Standard & Poors, Dec 2008
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 Still weak asset quality metrics High geographic and single-name concentration Modest profitability, although improving The ratings on Italy-based Banca Popolare di Intra SCPA (Intra) reflect the support the bank receives from parent Veneto Banca Holdings S.C.P.A. (BBB+/Stable/A-2) as a core entity of the group, the bank's leading market position in its home province of Verbano-Cusio-Ossola (VCO), and its resilient customer deposit base. These credit strengths are offset by Intra's still weak asset quality metrics, high geographic and single-name concentration, and modest profitability. With total assets of -4.8 billion as of Sept. 30, 2008, Intra is a midsize commercial bank operating in northwestern...
Companies mentioned in this report are: Banca Popolare di Intra SCPA,Veneto Banca S.C.P.A.
Action: Review
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