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Banca di Credito Cooperativo dell'Alta Padovana SCaRL Apr 09
Standard & Poors, April 2009
Abstract
Long-standing local franchise in the economically dynamic Veneto region in northeastern Italy Larger capital base than for other rated Italian cooperative banks Potential external support from the Italian cooperative banking system Weaker-than-peers credit risk profile, due to high loan concentration in the real estate and construction sector and low nonperforming assets coverage Modest bottom-line profitability, constrained by higher-than-peers credit provisions Weak risk management The ratings on Italian cooperative bank Banca di Credito Cooperativo dell'Alta Padovana SCaRL primarily reflect its consistently weak asset quality, given the high level of nonperforming assets (NPAs) in its customer loan portfolio, meaningful sector lending concentration, low NPA coverage, and weak risk management. These weaknesses are offset by the bank's long-standing local franchise in Italy's economically...
Companies mentioned in this report are: Banca Padovana Credito Cooperativo S.C.
Action: Review
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
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