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We are always interested in speaking to members of the media on news and events affecting the world of corporate credit risk. We look forward to hearing from you.
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Italian Bank Continues Its Efforts at Forefront of Credit-Risk Analysis and Loan Portfolio Enhancement
Source: CBS MarketWatch
Date: September 10, 2004
Author: N/A
Capitalia Works Closely With World's Leading Provider Of Risk Management Tools
Capitalia S.p.A., a leader in the use of credit risk analysis and management software, has recently worked with Moody's KMV in the sponsorship of the latest tool for assessing the credit risk of private companies in Italy, Moody's KMV RiskCalc version 3.1 Italia.
Capitalia is testing the new RiskCalc model on its portfolio data and providing feedback on the forecasting accuracy of the model as well as its new features - such as adjusting credit risk depending on the credit cycle - in anticipation of the product's introduction in the Autumn of 2004. The bank is already a user of earlier versions of RiskCalc and other Moody's KMV credit risk management tools, having integrated them into its Credit Risk Management framework and its Active Portfolio Management unit during the last 24 months. Capitalia uses RiskCalc 3.1 to help assess the credit risk of private companies, and a Moody's KMV technology called CreditEdge to assess counter-party credit worthiness for listed companies. Capitalia is also using a Moody's KMV portfolio management tool, Portfolio Manager, to improve the active management and risk-return performance of its loans portfolio.
"The integration of financial market information (both equity and fixed income) with a credit risk assessment process based on fundamental information is the key to improving the decision-making process of all Capitalia Banking Group Credit Committees," said Matteo Arpe, CEO of Capitalia. "Participating in the testing process of RiskCalc 3.1 Italia has been very rewarding, as it has allowed us to advance significantly the development of our internal rating models. Through our comments and input to Moody's KMV, we believe we have also contributed to the development of better credit assessment tools that will help banks in Italy and around the world minimize losses and improve their performance."
About Capitalia
The Capitalia Group was established on July 1, 2002, following the merger of the former Bancaroma and Bipop Carire Groups. Capitalia, based in Rome and listed on the Milan Stock Exchange, offers a full range of banking services. At December 31, 2003, Capitalia was the fourth largest banking group in Italy, with customer loans of EUR 75.2 billion, assets under management of EUR 31.5 billion and direct funding of EUR 72.9 billion. The Group has more than 1900 branches in Italy and approximately 5 million customers. The Group's activities are organised along 3 business lines: Traditional Banking (Banca di Roma, Banco di Sicilia and Bipop Carire), Merchant and Investment Banking: MCC (formerly Mediocredito Centrale) and Consumer Banking: Finecogroup. Further information is available at www.capitalia.it.
About Moody's KMV Corporation
Moody's KMV, a wholly owned subsidiary of Moody's Corporation, is the world's leading provider of quantitative credit risk analysis tools to lenders, investors, and corporations. Moody's KMV's tools provide current default probabilities, recovery estimates, valuations and correlations, and are widely used to assess portfolio risk/return. Serving over 2,000 clients in 80 countries, including most of the world's 100 largest financial institutions, Moody's KMV maintains the largest database of corporate defaults in the world. In addition to its San Francisco headquarters, Moody's KMV has offices around the world to serve its global customer base.
About Moody's Corporation
Moody's Corporation (MCO) is the parent company of Moody's Investors Service, a leading provider of credit ratings, research and analysis covering debt instruments and securities in the global capital markets, and Moody's KMV, a credit risk management technology firm serving the world's largest financial institutions. The corporation, which employs more than 2,000 associates in 17 countries, had reported revenue of $1.0 billion in 2002. Further information is available at www.moodys.com.
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