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”.