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Bank Industry Risk Analysis: Germany (Federal Republic of) Jan 06
Standard & Poors, Jan 2006
Abstract
2005 saw the health of the German banking system continue to improve on the back of reduced credit risk and significant restructuring efforts. Expectations of just such a gradual recovery after the trough in 2002/2003 have been underpinning the ratings on many German banks over the past four years. Helped by the more promising economic outlook for Germany in 2006, Standard & Poor's Ratings Services expects further positive momentum in the strengthening of German banks' financial profiles in the short term. Yet doubts remain about the sustainability of higher growth rates as the need for further economic reforms remains high. Overall economic and industry risk is still higher than in other Western European banking systems, and continues to constrain profitability...
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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