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Bank Industry Risk Analysis: Canada Jan 09
Standard & Poors, Jan 2009
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
Canada has a relatively low-risk consumer credit culture Canadian banks' risk practices reflect their credit quality strength Relatively small nonprime mortgage market in Canada Current levels of capital Well-established customer deposit franchises and access to federally insured deposits Prevalence of government guarantees on mortgages, small business loans, and farm loans The large Canadian banks dominate the wealth management and securities businesses Highly competitive and concentrated banking market affecting lending margins and profitability Modest success in expansion strategies outside of Canada Tendency to depend on market sources of funds In Standard & Poor's Ratings Services' opinion, the Canadian banking industry is among the healthiest in the world, reflecting what we view as a relatively lower-risk system compared with its global peers....
Companies mentioned in this report are: 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
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