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Banco Santander-Chile S.A. Jun 05
Standard & Poors, June 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
Extremely strong franchise and competitive position in the Chilean financial system Advantageous economies of scale, and thus, highly profitable operation Ownership by a committed parent Operating in a low-risk environment Margins under pressure as a result of the highly competitive environment and low interest rates Over the medium term, it will be increasingly difficult for the bank to sustain current high growth rates given the degree of maturity of the Chilean financial system The ratings on Banco Santander-Chile S.A. reflect the bank's leading position in the competitive Chilean market, its well-diversified business line, and its good financial profile. The ratings also take into account the bank's ownership and full control by Banco Santander Central Hispano S.A. (SCH), and its operating...
Companies mentioned in this report are: Banco Santander-Chile S.A.,Banco Santander Puerto Rico,Banesto Issuances Ltd.,Banco Santander S.A.,Abbey National Treasury Services PLC,Santander UK PLC,Scottish Mutual Assurance Ltd.,Banco Espanol de Credito, S.A.,Santander Central Hispano International Ltd.,Abbey National First Capital B.V.,Santander Central Hispano Issuances Ltd.,BCH Financial Services, Ltd.,RL LA Ltd.,Banesto Finance Ltd.,BCH International Finance, Ltd.,Abbey National Treasury International Ltd.,Abbey National Funding PLC,Abbey National Capital Trust I ,Banco Santander Brasil S.A.,AN Structured Issues Ltd.,Santander BanCorp,Scottish Provident Ltd.,Banco Santander (Brasil) S.A.,Banco do Estado de Sao Paulo S.A.,Abbey National Capital Trust II,Santander Brasil Asset Management DTVM S.A.,Banesto Banco de Emisiones S.A.,Santander Issuances S.A. Unipersonal,Santander International Debt, S.A. Unipersonal,Santander Totta SGPS,Banco Santander Totta, S.A.,Banco Santander S.A. (Mexico)
Action: Review
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