DBRS changes Abanca view

DBRS said it confirmed Abanca Corporación Bancaria, SA’s ratings, including the long-term issuer rating of BBB (low) and the short-term issuer rating of R-2 (middle).

The trend was changed to positive.

The bank’s intrinsic assessment remains at BBB (low) and the support assessment remains SA3.

“The confirmation of the ratings and the change of trend to positive reflects Abanca’s progress in improving core revenues and reducing non-performing assets (NPAs) in the last two years,” the agency said in a news release.

“In particular, Abanca has managed to consistently grow net interest income (NII) through new lending growth, and despite the ongoing pressure from the low interest rate environment.”

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