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Fitch affirms United Bulgarian Bank at A- , revises outlook to positive UBB/All rights reserved
SOFIA (Bulgaria), March 2 (SeeNews) - Fitch Ratings said it affirmed United Bulgarian Bank s (UBB) Issuer Default Rating (IDR) at A- and revised its outlook to positive from stable.
The outlook revision reflects a similar action on Bulgaria s rating outlook earlier this month, Fitch said in a statement on Monday.
UBB s Viability Rating was unaffected by the rating action.
Fitch also said in a statement: KEY RATING DRIVERS
IDR and Support Rating
UBB s IDRs and Support Rating (SR) reflect the extremely high probability that the bank would be supported by its parent, KBC Bank (KBC, A+/Negative/a), in case of need. UBB s IDR is capped by Bulgaria s Country Ceiling of A- , two notches above the Bulgarian sovereign rating (BBB/Positive). The Positive Outlook on UBB s IDRs reflects that on the Bulgarian sovereign IDR.
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Sampo Group’s results for 2020
Sampo Group’s largest business area If had an extremely strong year 2020 in all respects. The combined ratio for the full-year 2020 was 82.1 per cent (84.5). This is the strongest combined ratio If has ever reported. Because of the impairment loss of EUR 899 million and the sales loss of EUR 262 million on Nordea shares, Group’s reported profit before taxes for 2020 decreased to EUR 380 million (1,541). Without the extraordinary items relating to the Nordea holding, the profit before taxes would have been EUR 1,541 million for 2020 and EUR 1,696 million for 2019. The total comprehensive income for the period, taking changes in the market value of assets into account, amounted to EUR 434 million (1,565).
Sampo plc: Final Results
Sampo Group s results for 2020
Sampo Group s largest business area If had an extremely strong year 2020 in all respects. The combined ratio for the full-year 2020 was 82.1 per cent (84.5). This is the strongest combined ratio If has ever reported. Because of the impairment loss of EUR 899 million and the sales loss of EUR 262 million on Nordea shares, Group s reported profit before taxes for 2020 decreased to EUR 380 million (1,541). Without the extraordinary items relating to the Nordea holding, the profit before taxes would have been EUR 1,541 million for 2020 and EUR 1,696 million for 2019. The total comprehensive income for the period, taking changes in the market value of assets into account, amounted to EUR 434 million (1,565).