Hard times for the San Marino’s Bank System.
After the lowering of the market rating done by the Fitch Agency, now the most important bank institute of the little state, sees its titles go down in the group of BB. How to say “Waste”.
The Fitch agency was worried about the hemorrhage of deposits begun in the 2009 and the crisis of the industries controlled by the bank, like Delta SPA. The market ambient says that “it rain always on the wet”, and also in that case the proverb was right. In fact, the tax shield done by the Italian State, has been a hard lesson to the system, making real the possibility of a system default in the end of 2010.
Someone tell that this is a severe behavior done by the agency of rating. Perhaps. But we must not forget that also in the 2009, the bank system closed the annual budget with a lose of 17 millions of euro.
Despite this, the slogan of the bank was “One strong Bank for the faith of the people”.
We attempt ideas for the new slogan.