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Banca Intesa SpA Jul 04
Standard & Poors, July 2004
Abstract
Leading domestic banking franchise; Management focus on reducing bank's risk profile; and Strong ongoing earning recovery. Weaker credit risk profile than average, reflecting high level of nonperforming assets and some concentration risk on large Italian corporates; Lack of commercial dynamism in recent years; and Poor track record in managing subsidiaries in past years. The ratings on Banca Intesa SpA (Intesa) reflect the bank's leadership in Italian retail banking; improvement in asset quality, profitability, and capitalization; adequate liquidity; and contained market risks. The ratings also take into consideration Intesa's successful, ongoing reorientation toward its core domestic franchise and reduced risk profile. Intesa's business and financial profile is now much more balanced than it was a few years ago. Standard & Poor's...
Companies mentioned in this report are: Intesa Sanpaolo SpA,Credit Agricole S.A.,Commerzbank AG,Assicurazioni Generali SpA,Intesa Bank Overseas Ltd.,Intesa Preferred Securities Investors Trust,BCI U.S. Funding Trust I,BCI U.S. Funding Trust II,BCI U.S. Funding Trust III,Intesa Preferred Securities Investors Trust II,Intesa Sanpaolo Bank Ireland 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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