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Banco Santander-Chile S.A. Jun 06
Standard & Poors, June 2006
Abstract
Extremely strong franchise and competitive position in the Chilean financial system Advantageous economies of scale resulting in 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 Increasing medium-term difficulties to sustain current high growth rates given the degree of maturity of the Chilean financial system The ratings on Banco Santander-Chile S.A. (BSCh) reflect the bank's leading position in the competitive Chilean market, its well-diversified business lines, 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., and its operating in a banking system that Standard & Poor's Ratings Services considers to have...
Action: Review
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
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