Italian banks are slowly climbing out from one of the deepest recessions in the past half century, when GDP declined a cumulative 6% in 2008-2009. However, they are proceeding over difficult and new terrain, featuring persistently slow domestic economic growth, much higher prices for wholesale funding because of sovereign credit worries in the eurozone, and stricter capital rules in the run-up to Basel III. (Listen to the related podcast titled, "Why Italian Banks Face A Tricky Recovery," dated April 18, 2011.) Capital has not been a major factor supporting the ratings on most banks in Italy, and has been a weakness for a few midsize and large banks. We estimate that our risk-adjusted capital (RAC) ratio for the Italian banks...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- UniCredit SpA
- Banca Monte dei Paschi di Siena SpA
- Dexia Crediop SpA
- Intesa Sanpaolo SpA
- Banca Popolare dell'Emilia Romagna S.C.
- Banca Carige SpA
- Banca Popolare di Milano SCRL
- Veneto Banca SpA
- Mediobanca SpA
- Iccrea BancaImpresa SpA
- Banca Popolare di Vicenza ScpA
- Findomestic Banca SpA
- Credito Emiliano SpA
- Banca di Bologna
- Cassa di Risparmio di Cento SpA
- Istituto per il Credito Sportivo
- UBI Banca SpA
- Eurofidi Scpa
- Cassa di Risparmio della Provincia di Teramo SpA
- Banco Popolare Societa Cooperativa SCRL
- Banca Nazionale del Lavoro SpA
- Banca IMI SpA
- Unipol Banca SpA
- Istituto Centrale delle Banche Popolari Italiane SpA
- Cassa di Risparmio di Parma e Piacenza SpA