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Bank Industry Risk Analysis: Canada Aug 06
Standard & Poors, Aug 2006
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
Low-risk personal and commercial banking system Sophisticated product offerings Access to federally insured deposits Strong consumer credit culture Wealth management and securities businesses are dominated by the large Canadian banks Highly competitive and concentrated banking market affecting lending margins and profitability Loan portfolios characterized by large single-name concentrations Modest success in expansion strategies outside of Canada Tendency to be dependent on market sources of funds instead of core deposits Standard & Poor's Ratings Services' stable outlook on the Canadian banking system is predicated on the stability of the domestic retail and commercial banking franchises, which form the backbone of the Canadian banks' strong and stable operating performance despite the ongoing effect of margin compression and intense competition, which reflects structural...
Companies mentioned in this report are: Harris Bankcorp, Inc.,Royal Bank of Canada,Toronto-Dominion Bank (The),Bank of Montreal,Bank of Nova Scotia (The),Canadian Imperial Bank of Commerce,National Bank of Canada,RBC Centura Bank,Citigroup Inc.,HSBC Bank Canada,TD Bank US Holding Co.,TD AMERITRADE Holding Corp.,Laurentian Bank of Canada,IGM Financial Inc.
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