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Bank Industry Risk Analysis: Germany (Federal Republic of) Dec 03
Standard & Poors, Dec 2003
Abstract
Standard & Poor's expects a gradual recovery in the earnings of German banks in 2003 and into 2004, helped by lower risk charges and expense levels, after extremely low earnings levels seen in 2002, when most of the largest private and public law credit institutions recorded operating losses. Further progressive improvements are expected in 2004, as benefits from strategic initiatives to reposition and strengthen the banks are yet to be fully realized. However, German banks' profitability levels are expected to continue to be lower than in other European countries. The operating environment remains fragile as the fundamental structural weaknesses of the German economy and its banking industry are expected to remain in place in the short to medium term and...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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