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Banco Popular Espanol, S.A.
Standard & Poors, Feb 2005
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
Strong, above-average profitability track record; Sound asset quality throughout a complete economic cycle; and Coherent, focused, and sound strategy. Only adequate capitalization, following a rapidly declining trend in recent years; and More limited degree of business and geographic diversification than the other 'AA' rated European banks. The ratings on Banco Popular Espa-ol S.A. (Popular), the highest assigned to a private bank in Spain, reflect the bank's strong financial fundamentals--in particular its solid earnings record and asset quality--as well as management's coherent, focused and sound strategy. They also factor in the bank's only adequate capital position, following the rapidly declining trend experienced over the past few years, and its limited degree of business and geographic diversification. Popular's strong profitability track record...
Companies mentioned in this report are: Banco Popular Espanol, S.A.,Allianz SE
Action: Review
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