Fitch Ratings confirms the ratings of Banco BPM and Banca Akros in the Investment Grade area

The agency’s opinion reflects a positive assessment on various factors, including: revenues, risk profile, funding, liquidity and capitalisation.

Milan, 5 April 2023 – At the conclusion of the annual review process, it is announced that, on today, the rating company Fitch Ratings (hereinafter “Fitch”) confirmed Banco BPM’s ratings in the investment grade area, with a “Stable” Outlook.

Long Term Issuer Default Rating (IDR): “BBB-”/ “Stable”

Short Term IDR: “F3”

Viability Rating (VR): “bbb-”

Long-term deposit rating: “BBB”

Short-term Deposit rating: “F3”

The ratings are based on the analysis of Banco BPM’s profile which leverages its solid, well-established franchise in Northern Italy and take into account the good diversification of the business, the improvement of profitability and asset quality, a disciplined approach to risk and adequate reserves capital, a stable and diversified funding profile and solid liquidity parameters.

Banco BPM’s ratings also reflect its stable, activity-oriented business model commercial banking, but also diversified into wealth management, insurance and of corporate & investment banking.

The ratings assigned to the subsidiary Banca Akros, specialized in the CIB, are equivalent to those of Parent company Banco BPM.

For further information, see the Rating Report published by Fitch.