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Bank Handlowy w Warszawie S.A. Oct 05
Standard & Poors, Oct 2005
Abstract
The public information ('pi') rating on Poland-based Bank Handlowy w Warszawie S.A. (Bank Handlowy) reflects strong shareholder support from Citibank N.A. (AA/Stable/A-1+), robust capitalization, a good position in the Polish banking market, and solid funding. The bank's weak asset quality and a hardening competitive environment offset these factors. Bank Handlowy is the fifth-largest bank in Poland by assets, and a traditional leader in the corporate and affluent customer segments, with total consolidated assets of Polish zloty (PLZ) 34.8 billion (-8.6 billion, at PLZ4.03 to -1) at June 30, 2005. Franchise diversification into small and midsize enterprises (SME) and consumer finance, organizational restructuring, and ongoing efficiency improvements have benefited profitability, which has been increasing, but still lags peers. The majority shareholder,...
Companies mentioned in this report are: Bank Handlowy w Warszawie S.A. (Unsolicited Ratings),Citigroup Inc.,Citigroup Global Markets Holdings Inc.,Citigroup Capital II,Citigroup Capital III,Citigroup Capital V,Citigroup Capital IV,Citigroup Capital VI ,Citigroup Capital VII,Citigroup Capital VIII,Citigroup Capital X ,Citigroup Capital XI,Citigroup Capital XII,Citigroup Capital XIII,Citigroup Capital I,Citibank Securities (Taiwan) Ltd.,Citigroup Funding Inc.
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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