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Caja de Ahorros y Monte de Piedad de Zaragoza, Aragon y Rioja
Standard & Poors, May 2003
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: Full Analysis
Abstract
The ratings on Spain-based savings bank Caja de Ahorros y Monte de Piedad de Zaragoza, Arag-n y Rioja (iberCaja) are underpinned by the bank's low-risk business and sound financial profile, and its dominant position in its traditional markets of Arag-n, La Rioja, and Guadalajara. iberCaja's business remains concentrated in these regions, despite the bank's organic expansion strategy. The ratings take into account iberCaja's smaller overall market share and lower geographical and business diversification compared to large, domestic universal banks. The bank has maintained a solid financial profile despite its strong expansion, which has not negatively impacted its good asset quality and healthy liquidity profile and has strained its solvency only moderately. A low-risk profile, stemming mainly from iberCaja's strong and...
Companies mentioned in this report are: Caja de Ahorros y Monte de Piedad de Zaragoza, Aragon y Rioja (IBERCAJA),Ibercaja Finance Ltd.,Ibercaja Capital Ltd.
Action: Review
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