DBRS stabilizes Banco Montepio trend

DBRS said it confirmed the ratings of Caixa Economica Montepio Geral, SA (Banco Montepio), including the long-term issuer rating of B and revised the trend to stable from negative.

The ratings confirmation and stable trend consider the progress Banco Montepio made in 2021 in strengthening its regulatory capital ratios and de-risking its balance sheet, the agency noted.

“The bank continued to reduce its stock of non-performing loans (NPLs) and non-core assets, mainly through the disposal of legacy problem loans. However, the ratings continue to reflect the bank’s weak profitability, the still large stock of non-performing loans (NPLs) and the modest capital cushions,” DBRS said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.