(Tiper Stock Exchange) – Brooms confirmed the rating “BBB” and the outlook “Stable” on IBL Bank, specialized in the sector of salary-backed loans (CdQ). The rating is determined by its “preferred positioning” in its market niche, “a relatively low-risk business”.
The evaluation of the “support” operational context reflects Scope’s view that the Italian economy is mature and diversified, with a robust legal and regulatory framework. However, the competitive environment for the CdQ sector has “become more difficult recently”.
Scope evaluates IBL as “developing” as for the long-term sustainability (ESG). While acknowledging IBL’s renewed commitment to digitalisation, the assessment also considers key person risk relating to Mario Giordano, the bank’s chief executive who has held the role since 1998 and holds a 50% stake in the institution.
The “Stable” outlook reflects Scope’s view that IBL will “be able to mitigate pressure on margins due to rising financing costs.