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      Deutsche Bank: Improved profitability outlook on non-operating cost normalisation

      18/2/2025 Research EN

      Deutsche Bank: Improved profitability outlook on non-operating cost normalisation

      We expect Deutsche Bank’s performance to be more predictable this year but focus on cost efficiency is needed to avoid cost slippage. Frontloading non-operating costs weighed on 2024 results but should help bridge the gap to 2025 strategic targets.

      Italian Bank Quarterly: Amid surging M&A, banks project another record year but caution is warranted

      17/2/2025 Research EN

      Italian Bank Quarterly: Amid surging M&A, banks project another record year but caution is warranted

      With valuations at their highest in years and interest rates falling, Italian banks are seeking new levers of value creation, which has led to a surge in M&A and upbeat financial forecasts. In this context, increased risk-taking could pose challenges.

      Italian NPL collections: December volumes surge but still 23% below two-year average

      11/2/2025 Research EN

      Italian NPL collections: December volumes surge but still 23% below two-year average

      Italian NPL collections surged by 81% month-on-month in December 2024 to EUR 339m, reaffirming the trend that this month typically sees the highest collections of the year. But even then, volumes were 23% lower than the 2022/2023 December average.

      BPER’s new bid a defensive move to create a stronger group

      10/2/2025 Research EN

      BPER’s new bid a defensive move to create a stronger group

      BPER Banca’s all-share bid for its smaller rival Banca Popolare di Sondrio could be beneficial for both banks, although the risks of sub-optimal tie-ups are increasing in the current market environment.

      Scope complements the RMBS Rating Methodology by publishing the Country Addendum of Netherlands

      6/2/2025 Research EN

      Scope complements the RMBS Rating Methodology by publishing the Country Addendum of Netherlands

      The introduction of Dutch-specific assumptions strengthens transparency and standardisation in the RMBS rating methodology. Scope is calling for comments until the 7 March 2025.

      Georgia: microbank law to enhance financial-sector competitiveness and support growth

      6/2/2025 Research EN

      Georgia: microbank law to enhance financial-sector competitiveness and support growth

      Georgia’s microbank framework is designed to enhance financial-sector competitiveness, expand the range of product offerings and services, and support entrepreneurs and the self-employed, driving economic growth.

      Digital euro: a wake-up call for banks to adapt and innovate

      5/2/2025 Research EN

      Digital euro: a wake-up call for banks to adapt and innovate

      A digital euro can strengthen the resilience and autonomy of Europe’s payment ecosystem and preserve the relevance of European banks. But it also has a potential to weaken bank profitability, increase costs, and accelerate runs on deposits in a crisis.

      ING, Goldman Sachs set to exit Russia; RBI faces legal provision related to failed asset swap

      4/2/2025 Research EN

      ING, Goldman Sachs set to exit Russia; RBI faces legal provision related to failed asset swap

      ING and Goldman Sachs’s decisions to sell their Russian subsidiaries marks a key step in mitigating reputational, legal, and financial risks. But finalising sales still presents challenges due to stringent local legislation and multi-stage approvals.

      Structured Finance Activity Report: Ratings drift tracks below neutral

      30/1/2025 Research EN

      Structured Finance Activity Report: Ratings drift tracks below neutral

      Scope assigned new ratings to 78 instruments on 49 structured finance transactions in 2024, raising rated new-issue volume by 7.2%. On monitoring activity, heavy downgrades in Q1 pushed the 12-month ratings drift below neutral despite a strong Q4.

      MPS bid for Mediobanca could reshape Italy’s financial landscape but faces hurdles

      24/1/2025 Research EN

      MPS bid for Mediobanca could reshape Italy’s financial landscape but faces hurdles

      MPS’s hostile all-share bid for Mediobanca to form Italy's third-largest financial institution faces high execution risk due to differing business models and challenges in achieving sustainable synergies.