Frankfurt, Garmany — Dagong Global has affirmed the long-term credit rating of Banca Popolare di Sondrio S.c.p.A. (BPS) at “BBB”, with outlook “Stable”.
BPS has a long history in Italy. It was established in 1871 in the Italian town Sondrio and incorporated as a ‘banca popolare’. It has a network of 350 branches, located in 8 regions and 31 provinces, mainly in Northern Italy and Rome.
BPS focuses on traditional banking services for local households and local small and medium-sized enterprises. The bank is grouped within the medium-sized banks in Italy, with 27.6 billion euro in consolidated gross loans and 40.0 Billion euro consolidated assets as of 3Q17.