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2020/09/24 / Erste Group Research


Hypo Tirol Bank AG (Hypo Tirol) operates as a regional universal bank in its core market in the federal province of Tyrol. Corporate customers provides the largest earnings contribution. In fiscal year 2019, the bank generated a profit after tax of EUR 24.2mn. In 1H 2020 a decline in net earnings to EUR 9.3mn resulted above all from higher loan loss provisions. The impact of the COVID-19 crisis is currently reflected in a moderate deviation from original guidance.

S&P assigns an issuer rating of 'A' to Hypo Tirol. In the wake of the COVID-19 pandemic, S&P has revised the rating outlook to negative. Moody's assigns a rating of 'Baa1' with a stable outlook to the issuer. In addition, in July 2020 ISS ESG has awarded a sustainability rating of Prime C to the bank.

As an Austrian Pfandbrief issuer, Hypo Tyrol has both a public sector and a mortgage cover pool. Both covered bond programs are rated 'Aa1' by Moody's.

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General information

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


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