Moody's withdraws Unione di Banche Italiane S.p.A.'s ratings and assessments
Rating Action: Moody's withdraws Unione di Banche Italiane S.p.A.' s ratings and assessments. Global Credit Research- 21 Apr 2021. Senior unsecured rating affirmed at Baa1 with negative outlook.Intesa Sanpaolo is a commercial bank. Co. is engaged in lending and deposit collection operations in Italy and associated financial services, serving Households, Personal, Small Business, Private and Small and Medium Enterprise customers. Co. provides medium-term credit, leasing, factoring and agribusiness (Mediocredito Italiano), consumer credit (Intesa Sanpaolo Personal Finance), management of electronic payments (Setefi), and trust services (Sirefid). Co. has approximately 4,300 branches, including Retail and Business branches, distributed broadly throughout Italy. At Dec 31 2014, Co. had total assets of Euro646.43 billion.
Unione Di Banche Italiane provides banking and financial products and services to its customers. Co. is involved in the implementation of the Private & Corporate Unity project, the union of the private and corporate banking commercial networks designed to develop synergies between the two customer segments. This service model is able to address financial issues relating to families, businesses, and the relationship between personal and business finance in a unified manner. Commercial operations are primarily focused on existing customers, which are provided by the branch network.
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