Sound processes are in place for the assessment and control of capital, and robust mechanisms apply for managing risk and the level of liquidity, the latter in line with previous years and with no additional adjustment measure required. These are the main elements at the heart of the decision struck by the European Central Bank (ECB) and communicated to Credem regarding capital requirements to be met within the Supervisory Review and Evaluation Process (SREP). The CET1 Minimum Ratio assigned to the Group for 2019 is 8% and includes the Pillar 2 requirement which was confirmed at 1%, the lowest level among Italian banks under direct ECB supervision.
The CET1 Minimum Ratio assigned to the Group for 2019 is 8% and includes the Pillar 2 requirement which was confirmed at 1%, the lowest level among Italian banks under direct supervision by the ECB.
Nazzareno Gregori, Credem’s General Manager said: “The ECB decision is a further confirmation of the level of reliability and solidity of our Group, to protect all those who have dealings with the Bank. This result owes much to the professionalism and competence of the people we have working for the Group, because a bank is solid, first of all when it does its job - that is to protect savings and support households and businesses who seek to establish growth and create value. We will continue on this path by investing in people and technology to further improve our internal processes and offer an increasingly advanced and efficient service”.
Complete press release at www.credem.it