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Bank Industry Risk Analysis: Portugal (Republic of) Apr 04
Standard & Poors, April 2004
Abstract
The tables in this article are designed for exporting in certain Standard & Poor's products; therefore, printing quality may vary. Changing your page orientation to landscape mode, reducing your page margins, and/or reducing the text size in your browser may improve the printed output. The Republic of Portugal currently enjoys a financial industry that is fairly concentrated, majority owned and managed by the private sector, competitive, efficient, sophisticated, and resilient. Nevertheless, Standard & Poor's considers that the industry and economic risks of the Portuguese financial system are higher than those of most other Western European countries, with the exception of Greece. This is reflected in the current ratings of major Portuguese groups, which, except for those that benefit from parental...
Companies mentioned in this report are: Credit Agricole S.A.,Portugal (Republic of),Banco Santander S.A.,Banco Espanol de Credito S.A.,Allianz SE,Banco Totta & Acores, S.A.,Banco Espirito Santo S.A.,Caixa Geral de Depositos S.A.,Banco Comercial Portugues S.A.,Caja de Ahorros y Pensiones de Barcelona,Banco de Sabadell S.A.,Intesa Sanpaolo SpA,Banco Bradesco S.A.,Unibanco-Uniao de Bancos Brasileiros, S.A.,Banco de Portugal,Banco Popular Espanol S.A.,Banco BPI S.A.,Itau Unibanco Holding S.A.,Banco Bilbao Vizcaya Argentaria S.A.
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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