The rating reflects Intesa’s bancassurance business model, leading market position in Italy, and strong financial fundamentals. Geographic diversification is limited compared to peers.

The rating reflects the group’s diversified business model, strong liquidity and sustainability management focus. Buffers to prudential requirements are adequate.

The rating is supported by BNP’s very resilient business model, with strong geographic and business diversification. While profitability is supportive of the rating, buffers to prudential requirements remain adequate.

The rating reflects the group’s resilient business model, underpinned by its best-in-class approach to long-term sustainability. Profitability supports the rating; buffers to prudential requirements are considered adequate.

The rating reflects the bank’s solid capital position, conservative risk profile and highly resilient bancassurance business model in France and Italy. Profitability is relatively modest compared to peers but supported by a strong credit risk profile.

The rating benefits from the groups’ geographical diversification, with solid franchises in several European countries and sound financial fundamentals. Well executed M&A activity could lead to rating upside.

The rating reflects the bank’s strong market position, improved earnings capacity and adequate financial metrics. The Outlook revision reflects progress in enhancing the earnings mix and cost base.

The rating reflects sustained and improved earnings capacity, and solid and stable financial metrics. Weak economic performance in Germany and FX-related legal risks for the Polish subsidiary pose challenges.

Following the recent affirmation of the BB- issuer rating with the revision of the Outlook to Stable from Positive, Scope has updated its analytical report on 4iG Nyrt.

The rating is supported by the guarantee of the German Federal State of Baden-Württemberg (AAA/Stable) for L-Bank's existing and future obligations with respect to money borrowed, bonds issued, and derivative transactions entered into by the bank.