Moody’s ups Italian banks’ outlook

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(ANSA) – MILAN, MAR 25 – Moody’s on Thursday upgraded Italian
banks’ outlook from negative to stable saying the economy would
start growing a gain this year after the strong contraction due
to COVID-19 last year.
    The ratings agency said the Italian banking sector would benefit
from lower International Financial Reporting Standard (IFRS) provisions on losses on loans with respect to last year, although adjustments would remain high.
    It said problematic loans would rise, especially after COVID
moratoria end.
    However, continued government support in the form of guaranteed
loans, together with the continuation of the shedding of
non-performing loans (NPLs), will partially compensate for the
deterioration of the quality of assets, it said. (ANSA).
   

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