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Bank Industry Risk Analysis: Italian Banking Undergoes Another Wave Of Consolidation Mar 07
Standard & Poors, March 2007
Abstract
Widely diversified, stable Italian economy, part of the EMU High banking intermediation Strong local franchises Solid financial profiles, underpinned by good growth prospects in the retail market Economic growth persistently lower than EU average, with deteriorating competitiveness of small and midsize enterprises Credit risk structurally higher than the European average A still-fragmented banking market with wide disparities in individual banks' risk management practices In a global context, Standard & Poor's Rating Services considers the banking industry of the Republic of Italy (A+/Stable/A-1+) to be low risk. We rank the Italian banking industry in group 2 of our global Banking Industry Country Risk Assessment framework (BICRA; out of 10, 1 is the strongest). This reflects the benefits of operating in one...
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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