FinecoBank: S&P Global Ratings confirms rating at 'BBB/A-2', raises outlook to positive
Milan, November 24th2021
FinecoBank announces that S&P Global Ratings has yesterday confirmed the 'BBB' long-term and 'A- 2' short-term issuer credit ratings, raising the outlook to positive from stable.
According to S&P Global Ratings, "our positive outlook on Fineco reflect the upside we see to its profitability prospects, capitalization and overall stand-alone creditworthiness." The outlook on the bank also mirror that on Italy.
S&P Global Ratings affirms that, in the base-case scenario, "we anticipate that Fineco's operating performance will remain stronger than most peers", citing the bank's more diversified revenue base, better cost efficiency, owing to its digitally innovative business model, and expected lower credit losses over the next two years.
For further details please see the press release available at the S&P Global Ratings' website
FinecoBank is one of the most important FinTech banks in Europe. Listed on the FTSE MIB, Fineco offers a business model that is unique in Europe, combining the best platforms with a large network of financial advisors. It offers a single account with banking, trading and investment services, on transactional and advisory platforms developed with proprietary technologies. Fineco is a leading bank in brokerage in Europe, and one of the most important players in Private Banking in Italy, offering advanced and tailor-made advisory services. Since 2017, FinecoBank has also been in the UK with an offer focused on brokerage, banking and investment services. Fineco Asset Management was founded in Dublin in 2018, with a mission to develop investment solutions in partnership with top international asset managers.
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Finecobank S.p.A. published this content on 24 November 2021 and is solely responsible for the information contained therein. Distributed by, unedited and unaltered, on 24 November 2021 09:29:00 UTC.