This document summarizes Moody's view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period. The BCA also reflects the expected positive impact on asset quality and profitability coming from the acquisition of 620 branches from Intesa Sanpaolo S.p.A. The ba2 BCA reflects the bank's ongoing effort in reducing its high level of problem loans, its sound capitalisation and ample liquidity. (BPER) reflect the bank's standalone Baseline Credit Assessment (BCA) of ba2, very low and high loss-given-failure resulting in two notches of uplift and one notch negative adjustment respectively, and our assessment of a low probability of government support resulting in no further uplift. The Baa3 long-term deposit rating and Ba3 issuer rating of BPER Banca S.p.A. Key rating considerations are summarized below. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on for the most updated credit rating action information and rating history. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. BPER Banca SpA was founded in 1867 and is headquartered in Modena, Italy.This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. The company was formerly known as Banca popolare dell'Emilia Romagna s.c. As of February 22, 2021, it operated through a network of 1,820 branches. The company also provides corporate finance, mergers and acquisition advisory, risk management, liquidity and investment management, wealth management, and private and personal banking subsidized loans, credit management, and loans and leasing services receipts and payments import and export financing financing for working capital letters of credit guarantees and Internet banking products and services. It offers loans, mortgages, insurance and retirement planning, current and savings accounts, and other banking related services … More credit, prepaid, and debit cards and investments and savings products and services, such as certificates of deposit, investment services, mutual investment funds and SICAVs that are financial instruments linked to asset management, portfolio management, alternative investments, accumulation plans, and financial insurance products. The company operates through Retail, Private, Corporate, Large Corporate, Finance, Corporate Center, and Other Assets segments. BPER Banca SpA provides banking products and services to individuals, and small and medium enterprises in Italy and internationally.
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