(Finance) – Fitch has confirmed the ratings Of BPM desk in the investment grade area, with “Stable” outlook. In particular, the Long Term Issuer Default Rating (IDR) is “BBB-“. The ratings assigned to the subsidiary Banca Akros, specialized in the CIB, are equivalent to those of the parent company Banco BPM.
Banco BPM’s ratings, reads the rating agency’s note, reflect its franchise, “with a stronger presence in wealthy northern Italy, a good diversification of business by product and a gradual profitability improvement core and asset quality”.
In addition, they reflect “his model of stable businesswhich is oriented towards the commercial banking sector but quite diversified in the asset management and insurance businesses”. The strategy is described as “clear and consistent with the business model”, although “may be subject to change if growth opportunities materialize of the value of inorganic growth”.