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Bank Industry Risk Analysis: New Zealand Apr 03
Standard & Poors, April 2003
Abstract
A resilient domestic economy continues to support the performance of New Zealand banks despite the presence of some structural issues that heighten the level of bank industry risk in that country. These risks include a high level of private sector indebtedness and the low savings rate in the New Zealand economy. The strong ratings on New Zealand banks are underpinned by the high level of ownership by highly rated offshore banks, and the strong recent profit performance of most banks. The ratings remain very stable due, in part, to the sound level of economic growth. Some moderation in economic growth is expected from recent levels, but a sustained economic downturn appears unlikely. However, the occurrence of a persistent and material...
Companies mentioned in this report are: Deutsche Bank AG,Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland),The Royal Bank of Scotland N.V.,Citibank N.A.,Westpac Banking Corp.,Commonwealth Bank of Australia,Bank of New Zealand,ASB Bank Ltd.,National Bank of New Zealand Ltd. (The),ANZ National Bank Ltd.,Kookmin Bank,Bank of Tokyo-Mitsubishi (Australia) Ltd.,New Zealand Post Ltd.,Kiwibank Ltd.,TSB Bank Ltd.
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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