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Bank Industry Risk Analysis: Greek Banks Expand In A Supportive Environment, But Long-Term Risks Exist
Standard & Poors, May 2007
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.
Abstract
Increasingly a prosperous, diversified, and modern economy, benefiting from stability within the EMU Sustained economic growth fostering bank intermediation Strengthening profitability building solid and recurrent earnings Maintenance of fairly wide intermediation spreads during a growth period Improved asset quality and risk management Wealth levels still below other countries in Western Europe High public sector debt and weak expenditure discipline Higher credit risk than other EU countries in an environment of strong loan growth and increasing indebtness levels Risk management challenges while expanding in more volatile economies An increasingly prosperous, diversified, and modern economy has provided a very supportive framework for the development of the Greek banking system. Greek banks benefit from a stable macroeconomic environment thanks to membership of the...
Companies mentioned in this report are: Credit Agricole S.A.,Societe Generale,Hellenic Republic,Alpha Bank A.E.,National Bank of Greece S.A.,Emporiki Bank of Greece S.A.,Bank of Greece,EFG Eurobank Ergasias S.A.,Piraeus Bank S.A.,Marfin Egnatia Bank, S.A.
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