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Bank Industry Risk Analysis: Irish Banks In Good Health, But More Testing Times Lie Ahead Sep 07
Standard & Poors, Sep 2007
Abstract
Broadly favorable economic prospects and high degree of government fiscal flexibility Good profitability, efficiency, and asset quality Improving risk management and compliance culture High concentration of property and construction-related lending against a backdrop of a slower property market The combination of the high level of household indebtedness and rising interest rates Capital and funding pressures The Irish banking system is in good health, thanks to a decade of easy banking arising from the buoyant economy. While prospects remain good overall, a weaker property market, slowing economic growth, and more genuine competition will create a more testing environment. The coming years will see the winners emerge more clearly. Ratings on Irish banks compare quite well with those on the top-50 banks...
Companies mentioned in this report are: Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland),Bank of Scotland PLC,Bank of Ireland,Allied Irish Banks PLC,Britannia Building Society,Northern Rock (Asset Management) PLC,Ulster Bank Ltd.,Helaba Dublin Landesbank Hessen-Thueringen International,Commerzbank Europe (Ireland),KBC Bank Ireland PLC,Hypo Public Finance Bank,DZ Bank Ireland PLC,Irish Life & Permanent PLC,Irish Bank Resolution Corporation Limited,HBOS PLC,Depfa Bank PLC,Depfa ACS Bank,EAA Covered Bond Bank Public Ltd Co.,Barclays Bank Ireland PLC
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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