DBRS raises Regions Financial

DBRS said it upgraded Regions Financial Corp.’s, including the company’s long-term issuer rating to A from A (low) and that of its primary banking subsidiary, Regions Bank, including its long-term issuer rating to A (high).

“The ratings upgrade reflects Regions’ strong pre-provision profitability levels and improved risk management practices. Additionally, Regions operates a diversified and strong banking franchise, which includes a retail banking presence in 15 states, along with other businesses with a broader geographic reach. Regions has been investing in its franchise with bolt-on acquisitions gaining additional fee revenue and asset generation capabilities,” DBRS said in a press release.

Regions reported net income of $1.6 billion for the nine months in 2022 and delivered record earnings before provision and taxes for the third quarter of 2022, the agency noted.

The trend is stable.

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