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28.10.2022
Creditreform Rating (CRA) has affirmed the Long-Term Issuer Rating of Allgemeine Sparkasse Oberösterreich at 'A-'. The short term rating was affirmed at 'L2'. The outlook is stable.
The rating is supported by the bank's robust asset quality, which manifested itself in the past fiscal year in a further decline in the NPL ratio and a favorable write-down ratio. Another positive factor from a credit rating perspective is the extremely strong liquidity position, which continued to grow in the past fiscal year.
Key earnings figures improved significantly in 2021. In addition to moderate revenue growth, earnings for the period benefited strongly from the reversal of risk provisions on a large scale - a special effect which is not expected to recur.
We consider the capitalization on the basis of the values underlying the rating for fiscal 2021 to be good. In the meantime, however, there has been a planned reduction in the capital ratios as part of the ongoing transition to a new ownership structure. Sparkasse Oberösterreich plans to gradually strengthen its capital ratios again in the coming years.
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09.07.2021
Creditreform Rating has upgraded the rating of Allgemeine Sparkasse Oberösterreich Bankaktiengesellschaft from BBB+ to A-. The outlook is stable. The short-term rating was upgraded from L3 to L2. The upgrade is mainly due to the crisis management of Sparkasse Oberösterreich, which exceeded our expectations, and the update of our rating methodology.
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17.07.2020
Creditreform Rating has lowered the rating on Allgemeine Sparkasse Oberösterreich Bankaktiengesellschaft to BBB+ from A-. The outlook is stable. The short-term rating was lowered from L2 to L3. The reason for the downgrade is based on our assumptions regarding COVID-19 and its impact on the direct and indirect banking business, as well as a change in banking methodology.
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28.03.2020
Creditreform Rating has set the rating of all valid bank ratings and bank issues to watch negative due to the currently not assessable impact of the Corona Crisis. Not affected by this rating action are government related banks. We refer to the free available Monitoring Report for a more detailed explanation.
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09.07.2019
Creditreform Rating has set the bank issuer rating of Allgemeine Sparkasse Oberösterreich Bankaktiengesellschaft (Group) to A-, with stable outlook. The short-term rating was set to L2. The solid asset quality and strong market position in Upper Austria are among the factors responsible for the rating and the stable outlook. The earnings situation is stable in the Bank's challenging low-interest environment.
