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Barclays Bank S.A. Nov 09
Standard & Poors, Nov 2009
Abstract
Ownership by and core status within Barclays Bank PLC Increasing geographic diversification in Spain Resilient asset quality in its prime residential mortgage portfolio Limited market risk Rapid asset quality deterioration in real estate developer and small and midsize enterprise portfolio Weak operating efficiency Somewhat high single-name concentration Lower market share and diversification than larger nationwide players The ratings on Spain-based Barclays Bank S.A. (BBSA) are underpinned by the bank's core status within U.K.-based Barclays Bank PLC (Barclays, AA-/Negative/A-1+), its increasing presence across Spain, and limited market risk. Negative rating factors include the rapid deterioration in the bank's commercial loans portfolio, low efficiency, high single-name concentration, and a weaker market position than for larger domestic players. Standard & Poor's Ratings Services...
Companies mentioned in this report are: Barclays Bank S.A.,Barclays Bank PLC,Absa Bank Ltd. (Unsolicited Ratings),Barclays Private Clients International Ltd.,Barclays Bank Ireland PLC,Barclays Bank Mexico S.A. ,Barclays PLC
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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