Summary: Banco Popular Espanol, S.A.

Standard & Poors, September 2002

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Abstract
The ratings on Banco Popular Espa-ol, S.A. (Popular), the highest assigned to a private bank in Spain, reflect the bank's solid financial fundamentals, in particular its excellent earnings record, sound asset quality, and good capitalization, as well as management's coherent and conservative strategy. Despite the substantial changes undergone by the Spanish financial system (including a wave of consolidation and convergence to low interest rate levels), Popular has managed to maintain consistently strong returns, with return on average assets averaging a high 1.7% during the past six years. Popular's outstanding performance--a combination of the bank's focus on retail domestic banking, superior pricing policies, a comparatively cheaper funding base, and strong operating efficiency--is indisputably one of the bank's major strengths and a...

Companies mentioned in this report are: Banco Popular Espanol, S.A.
Action: Review

Banco Popular Espanol, S.A.

Customers who bought this item also bought

• Defense Expenditure in Spain to 2017: Market Review
• The Spanish Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
• The Spain Defense Industry - Competitive Landscape and Strategic Insights to 2017: Market Profile
• Aerospace (Spain)
• Aerospace (Spain)
• The Spain Defense Industry - Industry Dynamics to 2017: Market Profile
• The Spanish Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
• Homeland Security Expenditure in Spain to 2017: Market Review
• Language Schools (Spain)
• The Spain Defense Industry - Market Entry Strategy to 2017: Market Profile