and/or their licensors and affiliates (collectively, “MOODY’S”). © 2021 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. Fabio Ianno VP - Senior Credit Officer Financial Institutions Group Moody's France SAS 96 Boulevard Haussmann Paris 75008 France JOURNALISTS: 44 20 7772 5456 Client Service: 44 20 7772 5454 Nicholas Hill MD - Financial Institutions Financial Institutions Group JOURNALISTS: 44 20 7772 5456 Client Service: 44 20 7772 5454 Releasing Office: Moody's France SAS 96 Boulevard Haussmann Paris 75008 France JOURNALISTS: 44 20 7772 5456 Client Service: 44 20 7772 5454 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. This publication does not announce a credit rating action. Non EU rated, non UK rated, non EU endorsed and non UK endorsed ratings may be referenced above to the extent necessary, if they are part of the same analytical unit. This announcement applies only to EU rated, UK rated, EU endorsed and UK endorsed ratings. Please see the Rating Methodologies page on for a copy of this methodology. The principal methodology used for this review was Banks Methodology published in November 2019.
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. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. I am very satisfied with this finding, which sums up the importance these issues cover in a strategy to the level of evolution of ESG governance at Bper Banca also related to At the administrative levels: The ESG Strategy Office has been created which will report directly to the Board of Directors and will support, in a transverse manner, all the Bank’s functions in managing ESG issues The entry into the new Mib Esg Index for Bursa Italiana – concludes Mazzarella – further confirms the quality of the work we do “.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. “We wanted – we explained to Bper Banca Chairman, Flavia Mazzarella – to create an internal board committee that would govern Bper Banca’s position on sustainability issues. The index, launched by Euronext in collaboration with Vigeo Eiris (part of Moody’s Esg Solutions), combines economic performance measurement with ESG assessments in line with the principles of the United Nations Global Compact. Bper Banca is included in the new Mib ESG Index of Bursa Italiana, part of the Euronext Group, dedicated to national mega-companies that brings together the major listed Italian exporters offering ESG best practices. According to a note, the committee is chaired by the president of Bper Banca, Flavia Mazzarella, and consists of bank directors Riccardo Barbieri and Elisa Valeriani. The Bper Banca Board of Directors has established the Sustainability Committee, which undertakes advisory and propositional functions, and supports the Board’s activities on environmental, social and governance (ESG) issues while reflecting on all processes through which Bper ensures the pursuit of sustainable development.
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