Review Of Italian Banks On Implementation Of Credit Loss Assumptions And Reappraisal Of Earnings Leads To Rating Action Apr 10

  • ID: 1857022
  • April 2010
  • Region: Italy
  • Standard & Poors
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  • Banca Akros SpA
  • Banca Fideuram
  • BancaSai SpA
  • Dexia Crediop SpA
  • Iccrea BancaImpresa SpA
  • Mediobanca SpA
  • MORE

Following the rapid and intense economic downturn in 2008-2009, we believe that a period of very low economic growth between 2010 and 2011 will test Italian banks' asset quality at levels comparable with those experienced during the crisis at the beginning of the 1990s. We expect inflows of nonperforming assets to continue at high levels in 2010 and 2011, and credit losses related to the Italian banking sector in the 2009-2011 period to reach about 3.8% of customer loans as at end-2008. While we expect the banking system to remain profitable in 2010 and 2011, some banks could post losses during the period as credit losses should absorb a large part of operating income. As a consequence of our updated...

Action: Downgraded

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- Intesa Sanpaolo SpA
- UniCredit SpA
- Banca Monte dei Paschi di Siena SpA
- Dexia Crediop SpA
- Compagnie Monegasque de Banque SAM
- MedioCredito Centrale SpA
- Banca Popolare dell'Emilia Romagna S.C.
- Banca Carige SpA
- Banca Popolare di Milano SCRL
- Credito Bergamasco
- Mediobanca SpA
- Banca Fideuram
- Cassa di Risparmio in Bologna SpA
- Iccrea BancaImpresa SpA
- Cassa Centrale Raiffeisen dell'Alto Adige SpA
- Banca Popolare di Vicenza ScpA
- Iccrea Banca SpA
- Credito Emiliano SpA
- UniCredit Leasing SpA
- Cassa di Risparmio di Cento SpA
- Banca Carim - Cassa di Risparmio di Rimini SpA
- Banca Mediocredito del Friuli-Venezia Giulia SpA
- Istituto per il Credito Sportivo
- Unione di Banche Italiane Scpa
- Iccrea Holding SpA
- UniCredit Corporate Banking SpA
- Banca Akros SpA
- Eurofidi Scpa
- Banca Aletti & C. SpA
- Banco Popolare Societa Cooperativa SCRL
- Banca Nazionale del Lavoro SpA
- Banca Infrastrutture Innovazione e Sviluppo SpA (BIIS)
- UniCredit Family Financing Bank SpA
- BancaSai SpA
- Banca IMI SpA
- Cassa Centrale Banca- Credito Cooperativo del Nord Est SpA
- Cariprato-Cassa di Risparmio di Prato SpA
- Banca Valsabbina SCpA
- Cassa di Risparmio della Provincia di Teramo SpA
- Banca di Credito Cooperativo San Marzano di San Giuseppe S.c.r.l.

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