Intesa Sanpaolo : Stable credit opinion and Buy recommendations maintained on good fundamentals and alleviated short-term political risk
The agreement between the Democratic Party and the Five Star Movement to form a new coalition has alleviated short-term political risk in Italy and markets have strongly responded to this development. As the largest bank in Italy with leading positions in several segments, Intesa Sanpaolo is substantially exposed to Italy. The country's political situation remains fragile with a new coalition government made up of parties that have often been rival, and volatility could resume if...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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