The ratings on Dexia Crediop SpA (Crediop) reflect the bank's membership in and strategic importance to the Dexia group, its leading position in lending to public authorities in Italy, excellent asset quality, satisfactory though strained profitability, and strong capital base. With total consolidated assets of €18.3 billion and an estimated 21% market share at year-end 2002, Crediop is the leading private specialized lender to the Italian public sector after the state-owned Cassa Depositi e Prestiti. Crediop is a member of the Dexia group and can be considered its bridgehead in Italy. Its leading position in Italian public finance fits in well with Dexia's strategic goal of becoming the world leader in the market for public sector financial services. Highlighting its...
Companies mentioned in this report are:
- Dexia Crediop SpA
- Dexia Credit Local
- Belfius Bank SA/NV
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