Credit rating agency Fitch warns that the corona crisis could have adverse consequences for the creditworthiness of Dutch banks. The company is more gloomy about ING, Rabobank and NIBC, as those banks have a lot of credit outstanding in sectors that are highly sensitive to the economic cycle.
Fitch has set ING’s credit rating (A +) to credit watch negative. This means that there is a high probability of a reduction in the short term. This also applies to the credit opinion on Rabobank (AA-), and that on NIBC (BBB).
ABN AMRO (A +) and Volksbank (A-) appear to be better prepared for a crisis, according to Fitch, thanks in part to a large proportion of low-risk mortgages in their loan portfolios. Nevertheless, the rating outlook for both banks has been lowered from neutral to negative. This can lead to a reduction in the short to medium term.
Fitch also sees risks in the short to medium term at asset manager Van Lanschot Kempen (BBB +). Therefore, the prospect for the rating has also been lowered from neutral to negative.