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Bank Industry Risk Analysis: Greece Mar 98
Standard & Poors, March 1998
Abstract
SOVEREIGN RATINGS Hellenic Republic of Greece Local currencyA-/Positive/A-1 Foreign currencyBBB-/Positive/A-3 BASIC DATA Number of banks 56 System deposits Greek drachma (Dr) 28,218 billion (US$99.8 billion at Dr282.61 to US$1) based on exchange rate at Dec. 31, 1997. Deposits per capita Dr2.6 million (US$9,420) Exchange rate Dr282.61 to US$1 Form of regulation The Bank of Greece is responsible for the supervision and regulation of all credit institutions in Greece. As the country's central bank, the Bank of Greece has, in line with the Treaty of the Economic and Monetary Union, undergone changes during 1997, including receiving independence in conducting monetary policy. Bank Superintendent Lucas Papademos, the governor of the Bank of Greece, was reappointed in February 1998 for another six-year term....
Companies mentioned in this report are: Athens,Bank of America Corp.,The Royal Bank of Scotland N.V.,Credit Lyonnais,Societe Generale,Barclays Bank PLC,Bank of England,American Express Bank Ltd.,Prudential PLC,Greece (Hellenic Republic),Agricultural Bank of Greece S.A.,National Bank of Greece S.A.,Bank of Greece
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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