A group credit profile based on the regional savings bank sector's cohesiveness and regional protection scheme. A solid retail market position in two of Germany's comparably stronger and well-diversified economic regions. Strong capitalization from high earnings retention. Landesbank Hessen-Thueringen Girozentrale (Helaba), the group's central bank, has only modest preprovision earnings and capital buffers to absorb tail risk from its wholesale-centered business model. The regional savings banks have high cost bases. Traditional core products continue to face margin pressure. The core member banks of Germany-based Sparkassen-Finanzgruppe Hessen-Thueringen (SFHT) include the regional savings banks and their central bank Landesbank Hessen-Thueringen Girozentrale (Helaba). The stable outlook on these banks reflects Standard&Poor's Ratings Services' assessment that the financial profiles of SFHT and
