|2023/01/26 / Erste Group Research|
Hypo Tirol Bank AG
Hypo Tirol operates as a regional universal bank in its core market Tyrol. The Vienna location complements the core market. The province of Tyrol has a 100% ownership in the company. The bank generated a profit after tax of EUR 22.6mn in the financial year 2021, and a profit after tax of EUR 13.1mn was reported in 1H 2022.
The main source of refinancing on the capital market is the mortgage covered bond programme. Both programmes (public sector and mortgage) are rated 'Aa1' by Moody's. Hypo Tirol itself is currently rated by S&P ('A' / negative) and Moody's ('Baa1' / stable). Since 2021, the bank has been a social covered bond issuer. In 2023, a green covered bond was issued.
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|Author||Erste Group Research|
|Product name||Credit News|
|Topic in focus||Credits/ Corporate bonds|
|Economy in focus||Austria|
|Currency in focus||Euro|
|Sector in focus||-|
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