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Barclays Bank PLC Jan 10
Standard & Poors, Jan 2010
Abstract
Diversified profile by business line and geography. Relatively resilient performance through the economic and market downturn. Solid funding base underpinned by strong U.K. deposit franchise. Material residual exposure to legacy credit market assets. Relative earnings volatility and confidence sensitivity of substantial investment banking activities. Elevated loan losses arising from economic deterioration in core markets such as the U.K., South Africa, and Spain. We consider that U.K.-incorporated Barclays Bank PLC (Barclays) has a broadly diversified business profile, with a strong franchise across retail, commercial, and investment banking. It has progressively expanded outside its domestic market through acquisitions and organic growth. For example, non-U.K. customer lending represented 54% of the group total at June 30, 2009. Excluding nonrecurring gains and a loss...
Companies mentioned in this report are: Barclays Bank PLC,Barclays Bank S.A.,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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