Scope Ratings has updated its rating report on UniCredit, rated A with Stable Outlook.

The rating is supported by BNP Paribas’s very resilient business model, supportive profitability and asset quality, and adequate buffers to prudential requirements based on the lighter risk intensity of the balance sheet.

The rating reflects the bank’s very resilient business model that combines banking, wealth management and insurance. Profitability is relatively modest compared to peers but supported by strong asset quality and a solid capital position.

The upgrade reflects structural progress in strengthening the earnings mix and cost base, pointing to a more balanced business model. The rating is underpinned by the bank’s strong market position, improved earnings capacity and adequate financial metrics

Scope Ratings has updated its issuer report on ING Groep N.V., rated AA- with Stable Outlook.

The rating reflects the group’s resilient and diversified business model, supportive earnings capacity and adequate buffers to prudential requirements.

The rating continues to benefit from the groups’ well-executed geographical diversification, with solid franchises in several European countries and strong financial fundamentals.

The rating reflects the bank’s well-established regional banking model, robust capitalisation and solid profitability metrics. Some asset quality risk, amid a weak macro-economic environment, is the main credit challenge.

The rating reflects the group’s well diversified business model, solid fundamentals, and capital optimisation in line with the adjusted CET1 ratio target.

The rating reflects sustained and improved earnings capacity, and solid and stable financial metrics. Continued weak economic performance in Germany represents the main challenge, although the group has navigated this challenge well so far.