Bank of Italy authorises Credem to use IRB

The Bank of Italy has authorised Credem group to use the internal ratings-based (IRB) approach for its lending programme going forward.

The IRB approach allows banks to use their own estimated risk parameters to calculate regulatory capital.

Credem hailed the news as a potential boost to its lending activities, which have already gone up 5.3% year-on-year according to the group’s results at the end of June.

Credem’s lending activities to support families and SMEs went up 20.3% over the past five years, reaching a total of €21.5bn, the group has reported.

The Italian group has also recently subscribed to the European Investment Fund (EIF) for some €850m targeted to “innovation and internationalisation”.

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