trending Market Intelligence /marketintelligence/en/news-insights/trending/aVJWnpc_0ZMo3pYl8MjOQQ2 content esgSubNav
In This List

DBRS upgrades Belgium-based Belfius Banque


Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap


Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future


Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A


Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

DBRS upgrades Belgium-based Belfius Banque

DBRS on March 25 upgraded Belfius Banque SA's long-term issuer, deposit and senior debt ratings to A.

The Belgian lender's long-term critical obligations rating was also upgraded to AA (low).

At the same time, the rating agency confirmed the bank's R-1 (low) short-term issuer, debt and deposit ratings, as well as its R-1 (middle) short-term critical obligations rating. Belfius Banque's intrinsic assessment is now A, while its support assessment remains SA3.

The trend on all ratings is now stable.

DBRS said the long-term issuer rating upgrade reflects Belfius Banque's progress in recent years in strengthening its banking and bancassurance franchise in Belgium, the bank's core market, leading to the improvement of its revenue diversification.

The ratings also take into account the bank's sound asset quality, strong funding and liquidity profile and strong capital position, as well as its limited geographical diversification and some risk concentration to certain sovereign exposures, the agency noted.