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2021/09/13 / Erste Group Research

Luminor Bank AS - Rating Upgrade

Die Senior Unsecured Verbindlichkeiten der Luminor Bank wurden heute von Moody’s auf ‚Baa1‘ von ‚Baa2‘ heraufgestuft. Der Ausblick ist stabil.

Luminor Bank AS ist die drittgrößte Bank im Baltikum. Die Bank hat ihren Hauptsitz in Estland und betreibt Zweigstellen in Litauen und Lettland. Zum Jahresende 2020 hatte die Bank eine Bilanzsumme von EUR 14,9 Mrd. Der Geschäftsfokus der Bank liegt auf Privatkunden sowie kleineren und mittleren Unternehmen.

Im abgelaufenen Geschäftsjahr sorgte ein geringerer Zins- und Provisionsüberschuss sowie außerordentliche Aufwendungen im Zusammenhang mit der Erfüllung regulatorischer Anforderungen sowie dem Geschäftsumbau zu einem Rückgang des Vorsteuerergebnises um 39,6%. Im ersten Halbjahr 2021 konnte die Bank ein Vorsteuerergebnis von EUR 29,6 Mio. erreichen, was eine deutliche Verbesserung gegenüber dem ersten Halbjahr 2020 (EUR -7,6 Mio.) darstellt.

Luminor Bank begibt hypothekarische Covered Bonds unter dem estnischen Covered Bond Gesetz. Die Covered Bonds besitzen seit Januar 2020 ein ‚Aa1‘ Rating von Moody’s. Seit Februar 2021 hat das Covered Bond Rating einen positiven Ausblick.

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General information

AuthorErste Group Research
Product nameCredit News DE
Topic in focusCredits/ Corporate bonds
Economy in focus-
Currency in focus-
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