BANCA POPOLARE DI SONDRIO S.P.A (Alliance News) - Banca Popolare di Sondrio Scpa reported that DBRS Morningstar has confirmed all ratings assigned to the institution.
The bank had its long-term investment grade rating confirmed at 'BBB(low),' with outlook improved to Positive from Stable.
"The improved outlook reflects the rating agency's assessment of the positive evolution of BPS's financial fundamentals: the asset quality profile expresses metrics now more in line with European peers, and core profitability has strengthened, not only due to the significant increase in net interest income but also due to solid fee growth," the bank said.
"The ratings currently assigned also find solid support in the bank's ample capital buffers against regulatory requirements, robust funding base from retail customers and positive track record in terms of operational efficiency."
BPS stock is up 2.8 percent at EUR5.98 per share.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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