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Caisse Centrale de Reescompte Jul 06
Standard & Poors, July 2006
Abstract
The bank has a niche position as a key asset manager within the Commerzbank group. A low risk profile is being maintained and profitability is gradually benefiting from improved diversification, despite market volatility in recent years. The bank has limited growth opportunities in its core asset class, cash funds, in its domestic market. It partly depends on the Commerzbank group for international development. Business remains concentrated in low fee-generating money market assets. The ratings on France-based Caisse Centrale de R-escompte (CCR) reflect its position as an important asset management unit of its shareholder, Commerzbank AG (A-/Stable/A-2), as the continued development of synergies between the two banks has reinforced CCR's successful integration into the Commerzbank group. The ratings on CCR also...
Companies mentioned in this report are: Caisse Centrale de Reescompte,Commerzbank 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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