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Caja de Ahorros y Monte de Piedad de Zaragoza, Aragon y Rioja (IBERCAJA)
Standard & Poors, July 2004
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
Dominant position in its traditional markets; Low-risk business profile, which underpins healthy asset quality; Conservative, skilful risk management; and Sound financial profile, characterized by solid solvency, a healthy funding profile, and strong core profitability. Lower geographical and business diversification compared with that of large domestic universal competitors; Exposure to the cyclical residential real estate development and construction segments; and Market risk from exposure to equities. Caja de Ahorros y Monte de Piedad de Zaragoza, Arag-n y Rioja (iberCaja) enjoys a solid position in its traditional markets of Arag-n, La Rioja, and Guadalajara. Despite an expansion strategy, the bank's overall market position in the Spanish banking market is, however, significantly smaller than that of leading nationwide players. The savings bank has...
Companies mentioned in this report are: Caja de Ahorros y Monte de Piedad de Zaragoza, Aragon y Rioja (IBERCAJA)
Action: Review
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