Germany-Based DekaBank Outlook Revised To Positive On Stronger Group Support Capacity; 'A/A-1' Ratings Affirmed

German savings banks show improved earnings and cost efficiency. Additionally, a strengthened institutional protection scheme limits tail risks from Landesbanks. Germany-based DekaBank maintains its strategic relevance to the savings bank sector, and continues to build-up capital. Consequently, we revised our outlook on DekaBank to positive from stable and affirmed our 'A/A-1' long-term and short-term issuer credit ratings on the institution. We also revised our stand-alone credit profile on the bank to 'bbb+' from 'bbb'. The positive outlook reflects the potential for an improving group credit profile for the German savings banks sector, implying an even stronger capacity to support DekaBank, which we see as core subsidiary. FRANKFURT (S&P Global Ratings) Sept. 10, 2024--S&P Global Ratings today revised its outlook on

...September 10, 2024 - German savings banks show improved earnings and cost efficiency. Additionally, a strengthened institutional protection scheme limits tail risks from Landesbanks. - Germany-based DekaBank maintains its strategic relevance to the savings bank sector, and continues to build-up capital. - Consequently, we revised our outlook on DekaBank to positive from stable and affirmed our 'A/A-1' long-term and short-term issuer credit ratings on the institution. We also revised our stand-alone credit profile on the bank to '###+' from '###'. - The positive outlook reflects the potential for an improving group credit profile for the German savings banks sector, implying an even stronger capacity to support DekaBank, which we see as core subsidiary. FRANKFURT (S&P Global Ratings) Sept. 10, 2024--S&P Global Ratings today revised its outlook on DekaBank Deutsche Girozentrale to positive from stable. At the same time, S&P Global Ratings affirmed its 'A/A-1' long- and short-term issuer credit...

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