Outlooks Reviewed On Six Leading European Banks; One Revised To Positive, Three Revised To Stable, Two Remain Negative

We have reviewed our ratings on six large European banks. The review considered the banks' likely balance sheet resilience in the face of the pandemic, as well as their medium-term profitability outlook. We revised our outlooks on Nordea Bank Abp and Barclays PLC to stable from negative because we anticipate resilience, aided by previous or ongoing efforts to reshape their operations. We revised our outlook on Deutsche Bank AG to positive from negative because we anticipate resilience, but also because we see tangible progress in the deep restructuring that could bring the bank's performance into line with many European peers. We affirmed our long- and short-term ratings on ABN AMRO Bank N.V. on balance-sheet strengthening, but lowered the issue ratings

...February 26, 2021 - We have reviewed our ratings on six large European banks. The review considered the banks' likely balance sheet resilience in the face of the pandemic, as well as their medium-term profitability outlook. - We revised our outlooks on Nordea Bank Abp and Barclays PLC to stable from negative because we anticipate resilience, aided by previous or ongoing efforts to reshape their operations. - We revised our outlook on Deutsche Bank AG to positive from negative because we anticipate resilience, but also because we see tangible progress in the deep restructuring that could bring the bank's performance into line with many European peers. - We affirmed our long- and short-term ratings on ABN AMRO Bank N.V. on balance-sheet strengthening, but lowered the issue ratings on its hybrids on weaker earnings prospects, both in absolute and relative terms. - We affirmed our ratings on Banco de Sabadell S.A. and Commerzbank AG. The outlooks on both remain negative, but acknowledge the...

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