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Industry Report Card: Major European Banks Set To Maintain Strong Fundamentals In Spite Of Cyclical Softening Ahead Sep 06 Product Image

Industry Report Card: Major European Banks Set To Maintain Strong Fundamentals In Spite Of Cyclical Softening Ahead Sep 06

  • Published: September 2006
  • Standard & Poors

FEATURED COMPANIES

  • Allied Irish Banks PLC
  • Belfius Bank SA/NV
  • Credit Suisse Group AG
  • Dresdner Bank AG
  • Intesa Sanpaolo SpA
  • Pohjola Bank PLC
  • MORE

Abstract
Sustained growth in all business lines feeding interest margins and commissions--together with buoyant capital markets activities, controlled cost growth, and cost of credit risk at cyclical lows--confirmed the trend of increasing profits for the largest European banks during the first half of 2006. In the second half of the year, and even more so in 2007, banks will be confronted with less benign external factors, namely: Continuing increasing interest rates in the Eurozone, A likely slowdown of European GDP growth in 2007, and Gradual weakening of corporate asset quality. Barring marked and prolonged downturns across a range of businesses--which would give rise to higher-than-expected increases in risk charges and a severe earnings slowdown--Standard & Poor's Ratings Services expects European banks...

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 READ MORE >

- Credit Agricole S.A.
- Natixis S.A.
- Deutsche Bank AG
- Dresdner Bank AG
- Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland)
- The Royal Bank of Scotland N.V.
- Banca Nazionale del Lavoro SpA (former)
- BNP Paribas
- Danske Bank A/S
- Landesbank Hessen-Thueringen Girozentrale
- Norddeutsche Landesbank Girozentrale (Unsolicited Ratings)
- Skandinaviska Enskilda Banken AB (publ)
- Societe Generale
- Portigon AG (Unsolicited Ratings)
- Barclays Bank PLC
- Bayerische Landesbank
- Bank of Ireland
- Commerzbank AG
- Sanpaolo IMI SpA
- Pohjola Bank PLC
- Svenska Handelsbanken AB
- BNP Paribas Fortis SA/NV
- DNB Bank ASA
- Banque Federale des Banques Populaires
- UniCredit SpA
- Banca Monte dei Paschi di Siena SpA
- Standard Chartered Bank
- Allied Irish Banks PLC
- Banco Santander S.A.
- The Royal Bank of Scotland Group PLC
- Caja de Ahorros y Monte de Piedad de Madrid
- Credit Suisse Group AG
- ING Bank N.V.
- Caisses d'Epargne Participations
- HSBC Holdings PLC
- Caja de Ahorros y Pensiones de Barcelona (Unsolicited Ratings)
- Caisse Centrale du Credit Mutuel
- Intesa Sanpaolo SpA
- Banco Popular Espanol S.A.
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank
- KBC Bank N.V.
- UBS AG
- Landesbank Baden-Wuerttemberg
- Belfius Bank SA/NV
- Banco Bilbao Vizcaya Argentaria S.A.
- Nordea Bank AB
- HBOS PLC
- Deutsche Postbank AG
- Lloyds Banking Group PLC
- HSH Nordbank AG

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