The variation in the outlook from Stable to Positive is driven by the continuous improvement in the diversification of revenue sources and reflects the expectation of further enhancement in capitalization, already at the highest levels among peers.
Trento, 20.12.2024 – The agency Fitch Ratings (Fitch) improved the outlook of Cassa Centrale Banca from Stable to Positive, confirming the ratings assigned as follows:
|
Rating type |
Rating |
|
Long-Term Issuer Default Rating / Senior preferred debt |
BBB- |
|
Short-Term Issuer Default Rating |
F3 |
|
Long-Term Deposits |
BBB |
|
Short-Term Deposits |
F3 |
The Cassa Centrale Group has demonstrated further improvement in the ability to diversify its revenue sources and in profitability as a result of the initiatives implemented in the Strategic Plan aimed at delivering growth in revenues from commissions and continuous cost efficiency.
The confirmation of the ratings (with a Long term Issuer Default Rating of BBB-) and the upgrade in the rating outlook reflect a capitalization which remains at the highest levels among peers and that is further supported by a high degree of internal capital generation. Asset quality has remained under careful consideration with an extremely prudent NPL coverage ratio.
Sandro Bolognesi, Chief Executive Officer of Cassa Centrale Banca, stated "The rating outlook improvement by Fitch, along with the recent rating upgrade by Morningstar DBRS, are a demonstration of the financial and economic progress made by the Group during these years".
For further details on the rating action, please refer to the Fitch press release.