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Caisse Centrale de Reescompte Jun 01
Standard & Poors, June 2001
Abstract
The ratings on Caisse Centrale de R-escompte (CCR) continue to reflect the bank's overall sound financial profile, as well as its strategic importance as an asset management unit of its shareholder, Commerzbank AG (A+/Stable/A-1). The synergies that continue to develop between the two banks, following Commerzbank's acquisition of CCR in 1993, further reinforce the latter's successful integration into the group. CCR continues to focus its business on asset management, mainly for institutional and corporate clients, but also for private individuals. Private individual asset management was further reinforced by the bank's acquisition in 1999 of Chevrillon-Philippe, a private asset manager focused on high-net-worth individuals. Total funds under management of -11.2 billion at year-end 2000 reflects continued growth in CCR's core business....
Companies mentioned in this report are: Caisse Centrale de Reescompte,Commerzbank AG,Commerzbank U.S. Finance Inc.,Commerzbank International S.A.,Commerzbank Europe (Ireland),Hypothekenbank in Essen AG,Rheinhyp Bank Europe PLC,Rheinische Hypothekenbank AG,Commerzbank International (Ireland),Erste Europaeische Pfandbrief- und Kommunalkreditbank AG
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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